Entrepreneur's Tip of the Week: Challenge Yourself
Posted by Vicki Donlan on Sun, Aug 15, 2010 @ 04:25 AM
Every entrepreneur proves just by starting a business that (s)he has the guts to risk failure. Believing that you have what it takes to beat the odds --- less than 40% of all new businesses make it to the third year --- means you are willing to bet on your business idea and yourself to succeed in business. A business can be started on a shoestring budget, but most likely you have reached deep into your own pocket to fund your startup. And more difficult than that, you more than likely have begged and borrowed money from your family and friends just to open the doors. Making the decision to start your own business also means you have decided NOT to depend on someone else's business acumen in creating a place for you to go to work each day. Every entrepreneur has the realization that once (s)he crosses the line over to small business ownership there is rarely a bridge back.
Therefore my premise is that the shear fact that you are an entrepreneur means that you understand the need to challenge yourself. So why aren't you doing it?
You have risked a lot just to get to where you are now in your business. So what happened to that gutsy person who started the business? What is it about the future that scares you? What is it about new challenges that keeps your head in the sand?
You are up for the task of the economic business cycles that happen in every business -- but you must not allow yourself to become complacent or fearful. This is exactly why 60% of all businesses fail in the first three years.
Write down the challenges you face. Take one at a time and create scenarios for ways you will meet them head on. Challenges do not go away just because you don't face them. They grow into obstacles and then into problems too big to conquer. Meet them now while they are still small enough to master.
The world of business has winners and losers and the difference is found in how each is willing to challenge themselves. Just getting out of bed in the morning is a challenge for some, but then there is no reward without taking a risk.
Challenge yourself today to take on just one new aspect of your business. The adventure itself will give you one more reason to believe in yourself.