According to the Small Business Administration, 70% of all new businesses survive one year while half survive five years. If you want to be one of the survivors, you have to be physically, mentally and financially ready for the long hours, costs and demands required. It cannot be stressed enough that it is imperative for you to have a joy and passion for what you do. When the inevitable tough times come along, you will be more likely to quit if you do not have that passion. A characteristic critical to success is having the ability to learn from your previous missteps and mistakes as well as the mistakes of those around you. Only by learning and adjusting can you avoid repeating the past.
Plan, organize, schedule and learn…and then do it again. You need to write down your daily, weekly, monthly and annual plans along with the actions necessary for achievement. Chart out what needs to be done and then work diligently at executing on those plans. As unexpected events and distractions will occur, constantly adjust your plan while remaining focused on the critical items. A plan is only a plan if you do nothing to make it a reality.
As you cannot do every job yourself, remember to delegate. You are only as good as your weakest employee so you have to train your people to do what you require of them or hire people with the knowledge, talent and resources to make your business successful. Remember to look in a mirror and assess your weaknesses. Surround yourself with a team that helps you in those weak areas.
No matter the challenge, stay positive. Positivity, drive and determination will put you ahead of most of the competition as these traits breed enthusiasm and excitement in whatever you do.