How to Keep Going When It’s Hard
If business was easy, everyone would own one and we would all be millionaires.
According to the Wall Street Journal, only one out of every 20 households in the United States has more than 1M dollars in investable assets.
And, the Millionaire Next door, when featured in the New York Times said, “self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires.”
Why am I telling you this?
Because self employed people who stick with it and keep going have a much higher likelihood of attaining financial security and freedom as long as they don’t give up.
This is why people give up:
1) They don’t understand money and, because they don’t understand how to generate, manage, and invest, they end up in a situation where they have no money and that creates stress which causes them to give up and think that a job is the only solution.
2) They don’t have a plan for their business and, because they don’t have a solid strategy and plan for what to do, they don’t know what to do next. When you don’t know what to do next, you get stuck and when you get stuck, you stop the forward motion of the business and that leads back to reason number one — money.
3) They don’t have a clearly defined business model so they say yes to too many things and end up diluting their brand by becoming the jack-of-all-trades, master-of-none. People become unclear about what they really offer and then customers look elsewhere because they are confused about what products and services you actually provide.
So, what do you do if this is you? What if you feel like stopping and giving up? The first thing you want to ask yourself is, “What can you do?” Where is the problem and how can you address and solve that problem?
- If you don’t understand money, hire a business coach, bookkeeper, accountant, or money coach to teach you so that you understand and have more power.
- Don’t have a plan? Create one.
- Saying yes to too many things? Start saying no.
The beautiful part about being in business is YOU are in control. You can press pause any time and reassess what you are doing, where you are headed, and the financial outcome you desire. Then, YOU can create change.
It is so important to remember that business is an exchange of money for a product or service. If you are trading four quarters for a dollar, you have a hobby, not a business. You cannot be successful if your business is not profitable.
The good news?
It is never too late to change, so it is never too late to change the way you do business.
You can stop and plan the next week, month, quarter, or year anytime. You don’t need to wait for a “New Year” to turn over a new leaf and make your business stronger.
You have the power now to impact the success of your business tomorrow, next week, next month, etc. BUT, change is hard and it will always challenge you for there is no reward without some type of challenge.
Are you ready?