Eighty percent of new businesses fail within a year. And 80% of what’s left fail within 5 years. That means that only 4 out of every 100 new business ventures will be around in 5 years time.
The statistics are similar for high margin sales agents who in many ways run their own business.
There are many reasons why businesses go under. Some are psychological and others are more related to business systems.
Action – Here are some systems to help you NOT be in the majority-
- Set goals. No, you may not achieve them all, but when set well, goals give you confidence, direction, a sense of control and focus.
- Make lists, but not too many. Your brain receives 50,000 messages per day and what gets written down gets most of your attention.
- Get input from other people. Pay for professional advice, guidance and consultations. Find mentors and cheerleaders and build your success team.
- See challenges as opportunities. There is something new to learn in every problem.
- Do feared things first. Whatever task you dislike doing, do it first thing in the morning, every single day. From a task-based perspective, this is the most important point.
- And from a mind-set perspective, trust yourself. Invest time and money in lifelong learning about yourself.
And KNOW that you are a fully capable, alive, contributing and evolving individual.