Statistically 9 out of every 10 businesses fail. Experts provide reasons for these failures like, failing to listen to the customer, failing to adapt when the market changes, poor accounting practices, operational issues and a multitude of other dysfunctional issues. But if experts provide this clear understanding of eminent failure, why is it that we haven’t conquered these problems?
There are many things that have “point of entry rules” established to only allow the ideal candidate in. Colleges across America set standards for grades, extracurricular activities, and sporting prowess. Corporations require a number of years of experience to be permitted to apply. Amusement parks use cartoon characters to determine if your height is tall enough to safely ride their exciting attractions. Mortgage companies use credit scores to set interest rates for a loan. Everywhere you go, there are standards that must be met to advance oneself to the next level. If you don’t meet these qualifications, there is no need to apply.
However, starting your own business is a different story. All you need is a dream, some energy and poof, you can own your own business. Sadly the pre-qualifications for hanging your own shingle strengthens the statistic that nine out ten businesses fail. The real reason why most businesses fail has nothing to do with the aftermath of problems once the doors are open but everything to do with your lack of skills and conditioning pre-grand opening.
To own a business takes a very special person. It takes commitment, passion, a never ending amount of hustle, and more patients than you could fill the Grand Canyon with. Fortunately it doesn’t take brains but a true business owner knows what he doesn’t know and is willing to search for that information and will expend any amount of time to gain that knowledge. A successful owner works to understand people and what drives them because he knows that he cannot do it on his own
Many don’t realize that owning a business requires buy in from all members of the family, especially your spouse. After all, while you’re sleighing dragons and growing the empire, they are at home or working to keep the family unit together. Without this necessary partnership, daily stress from the business is multiplied exponentially at home.
You see, not everyone can own or operate a business. No different than most people cannot run a 4 minute mile. But the successful business owners understand that every day is a work in progress to better themselves as well as their team. We may not be able to run a 4 minute mile but with enough training and conviction, we can run a pretty great time.
Before you step away and decide you want to follow your dream, realize that being your own boss takes more work, heartache, struggle and sweat than you could have ever imagined. Reality will wear down the excitement quickly and now you’re in the race. Quitting is no longer an option.
There is no punch clock or five o’clock finish line. Sleeping late is always a poor option and TGIF is just another day in the week. Your mind no longer rests but rather takes breaks between nightmares. A consistent diet of books and other literature should be consumed as fast and you can shovel them in. The bowling league will now be in your way for a while and you will have to fold your Thursday night card game at the neighbors.
You see, owning and running a business takes an unbelievable amount of sacrifice. Those that are willing to give it their all without any option of failure have a stronger percentage of success. Those that struggle with anything written above should see that their pre-qualifications do not merit the opportunity to command your own ship.
