In the offline business world over 95% of new businesses fail to last 10 years – in the online world the numbers are probably equally dismal. In most cases the cause of these failures is based more on the mindset of the would-be business owners (‘entreprenewbies’) than on all other causes combined. And the problem starts even before the businesses do…
Ask 20 people why they want to start their own business and chances are 19 of them, if not all, will tell you it’s because they want to make more money. On the surface that sounds good and solid as a reason, as a goal, right? The problem is that ‘making money’ or even ‘making more money’ is a process, not a goal.
One of the common truisms about starting your own business, online or offline, is that everything takes twice as long as you think and costs twice as much as you expect. That small percentage of entreprenewbies that do succeed are the ones who have the perseverance and motivation to keep fighting after most have given up – those whose dreams are strong enough to keep them going when everyone around them tells them to quit because it’s hopeless.
The necessary traits like dedication, perseverance and motivation are fueled by your desires; the stronger your desire and more firmly you see your ideal future, the stronger your motivation. The key differentiation here is that desire is an emotion – a feeling – and money is simply a resource. So while money is certainly important in everyday life at every level, it doesn’t provide the necessary fuel to keep you motivated through the tough, often brutal, initial business start-up years.
So what then is it that fuels that fire? If money’s not the goal then why is it so crucial to success? What is it that successful entrepreneurs dream of, chase and covet most?
Successful business owners know that money is just a tool – a tool they use to buy their freedom. It’s the one universal, though freedom means different things to different people…
For some, it’s the freedom to buy whatever they want whenever they want. Don’t mix that up with ‘paying off all my debts’ – that’s a negative goal because it keeps you focused on your current debt-laden status. Focus instead on the freedom to buy whatever you want since having all your bills paid off is already inherent in that freedom.
For others it’s the freedom to travel the world and go anywhere, any time the mood strikes them. Whether it’s to explore more business opportunities, to meet exciting new people, visit exotic locales, walk the beaches of the earth or scale the highest summits, the freedom to come and go as you please has always been a great motivator to those with wanderlust!
If you have a family it’s the freedom to give them everything you think they deserve and the freedom to ensure your kids get the best head-start in life with all the advantages you never had.
If you’re single it’s the freedom to meet the people you want to date, to sleep with and eventually the person you want to marry. While it’s probably true that your wit and charm will win them over regardless of your financial situation, ladies without financial freedom will have trouble meeting that sexy guy while he’s playing squash at his $50,000-a-year club. And broke guys eyeing those super-hotties in their string bikinis just won’t be able to afford the poolside lounge beside them at that $1,000-a-night vacation resort…
For sports nuts it’s the freedom to dock your offshore race boat where you please to jet off to the Superbowl, for people who love to read it’s the freedom to choose a house big enough for the library to house your 10,000-book collection. For politicians it’s – well, who cares about politicians anyway?
As you visualize these examples and ponder what those freedoms would feel like to you, one or more probably has your desire starting a slow burn in your gut already. If not, they probably already spawned visions of what would turn you on the same way, right?
That desire is the fuel you need to stay motivated and persevere in your new business no matter what you face along the way. You see, the truth is that successful people aren’t out to build a business, they’re out to build a better life for themselves. It’s easy to decide it’s not worth it and give up on building your own business – but you’ll never want to give up the dream of building a better life for yourself and those you love…
So if you’re thinking about starting your own business, be it an offline business or a home-based business online, start by clearly defining what freedoms are most important to you. Envision your life when you’ve removed all the limits – know exactly how it feels, how it tastes, how it sounds and how it smells. Picture where you live, where and how you work, where you vacation and who is around you – your social circle, your co-workers and/or employees, your friends, lovers and family.
Get a REAL sense of just how much achieving that freedom means to you and you’ll be able to stay motivated and persevere through anything you face when starting your own business, seeing every potential setback as a challenge instead of a problem. And when things do seem to all be conspiring against your success, getting back in touch with that vision of your ultimate freedom will keep you moving ahead at full speed long after the other 95% have given up!