It's a well-known fact that many small businesses fail during the first few years. However, some succeed. What the difference? Why do some businesses survive and grow while other fall by the wayside?
Characteristics of Failure
To understand success, first it is important to study what is not success. That is the approach taken at the freelanceParent blog where Lorna Doone Brewer has published an article listing ten reasons that business fail.
If you have a business or are considering starting a business, you'll want to use this handy checklist to make sure that you are not making any of these common mistakes.
Characteristics of Success
The topic of success has been an ongoing discussion for the self-employed for quite some time. Over at FreelanceSwitch Shane Pearlman has published the Business Survival Guide: 8 Practices of a Long Term Freelancer. The post lists eight specific practices that you can start implementing in your business today.
One thing that I really like about this particular post is that Shane has listed a related followup post and book for each of the eight practices.
Succeeding When Others Fail
From my own observations I have noted three attributes of successful entrepreneurs. I could, perhaps, list more - but I think that most other characteristics could be categorized under one of these attributes.
Attribute Number One: Successful entrepreneurs make effective plans. They are skilled researchers. They know how to break large problems into smaller pieces. The can anticipate problems and develop solutions.
Attribute Number Two: Successful entrepreneurs take positive actions. Many a dreamer comes up with plans and visions that they never act upon. They don't succeed because they never actually start.
Attribute Number Three: Successful entrepreneurs assume positive attitudes. There is such a thing as a "self-fulfilling prophecy." If you proceed as though you will succeed you are more likely to take the proper steps to build and sustain your business.
Conclusion
Success is not quite so elusive when you break its ingredients down. Through proper planning, actions, and attitudes your business can succeed.
What about you? What advice for success would you give?
Leave a comment and let us know.
Good post. Thanks Laura.
My advice for success would be to be tenacious. See what you want, go after it, and never look back or to either side. It's so easy to get sidetracked by, "If I'd onlys," and, "What ifs." You can learn from the past, true, but it doesn't do to dwell on what would have happened if you'd done this or that. Past is past. The future is where exciting things can happen if you start the wheels spinning in the present.
Lord knows I've had a lot of ideas for start up businesses, but I haven't had the funds to cover the start up costs until recently. If I were to sit around and dream about what would have happened if I'd just had the money to have given this idea or another a shot, I'd never get around to building my business today.
Posted by: Misses E. | October 30, 2007 8:45 PM | Permalink to Comment