An Entrepreneur Needs to be Determined and Persistent By Galit Zamler
Lee Iacocca: You've got to say, "I think that if I keep working at this and want it badly enough I can have it. It's called perseverance."
One of the most common reasons for entrepreneur failure and business closure is a lack of determination and persistence.
Those who are not determined to persevere until they succeed tend to jump from one idea to another when encountering difficulties. If you don't try to overcome the difficulties none of your ideas will have a chance to mature into something successful.
In contrast, successful entrepreneurs talk about the difficulties and sometimes very creative ways of handling them.
Mental Preparedness for Dealing with Difficulties
An entrepreneur starts with a good idea, continues to the design stage, and then arrives at the performance stage.
Though the entrepreneurial process, people will almost always have to overcome difficulties. To handle these difficulties, an entrepreneur must show determination and persistence. Persistence is also required to continue advancing projects and achieve the desired goals. Otherwise, every little difficulty will vanquish an entrepreneur.
Implementing Entrepreneurship for Kids program and talking to students about these issues helps them to understand the process of entrepreneurship, and enables them to be ready to tackle difficulties. The program also helps students understand that these difficulties are challenges that they have to go through to achieve success.
An Example of an Entrepreneur:
In an interview, the founder of Israeli manufacture Arack Mabrouka described the experience of an entrepreneur who started from scratch:
The entrepreneur's life is full of disappointments and soul-crushing failures. Entrepreneurs have to insist that people listen to their ideas and convince the right people to invest and help them develop the project in order to persevere. The entrepreneurs must be willing to take risks and know that there is a possibility that they will not succeed.
Take the following into consideration: Raising ideas for projects can be misleading initially since, until the actual project, an entrepreneur may not think of all the details required for its implementation.
So, if you have decided to be an entrepreneur, prepare yourself mentally for surprises and difficulties that you may have to handle throughout the entrepreneurial process.
Such mental preparation helps entrepreneurs to handle difficulties and to persevere in the implementation of the project all the way through to success.
The video: How bad do you want it? Expresses this message clearly.
Energy and Excitement
Determination and persistence are accompanied by energy, which pushes entrepreneurs to keep going, even when they encounter inevitable challenges.
An entrepreneur's energy and excitement, from the start of the project, equip him or her with an advantage over others some of whom may copy his ideas.
When an idea is original energy and excitement continue to push the project forward and lead it to success. They motivate an entrepreneur to dedicate himself/herself entirely to the project even when it comes to irregular hours or finding creative ways to solve problems.
Entrepreneurs who can visualize the picture of the success in their head, develop their idea, and put their full efforts into it. However, sometimes, people on the outside do not understand the spirit of entrepreneurial enthusiasm. They do not see what is so special about the project the entrepreneur is working on, or why he/she is developing it. This is where an entrepreneur's faith in the idea, in his/her ability to realize it, and in his/her ability to inspire others to want it is needed. That's exactly what makes an entrepreneur a pioneer. He/she doesn't act the way the environment expects.
Kevin Systrom, one of the founders of Instagram, says that this is how he felt toward Twitter in the beginning. He thought the entrepreneurs behind Twitter were crazy. He believed that no one would use their product and wondered who needed such a social network. The entrepreneurs behind Twitter went on with their dream and the site became a popular social network with hundreds of millions of users.
Perseverance until Success
Every project requires investing energy and resources. When a project fails entrepreneurs must understand and accept failure, but at the same time understand that it does not necessarily mean that they themselves are a failure. Projects can fail and statistics can even show that the rate of success is not as high as it sometimes seems to be.
But if an entrepreneur is able to identify what caused the failure, figure how to fix it as well as improve in the future before continuing on to the next project, then they will likely find success.
This ability to overcome and continue on to the next project is what leads the entrepreneur to success.
Sometimes it seems like everyone around us is successful while only our project fails, but this is not so. It is just that people know about success and want to share it, while minimizing failure. However, before success, most entrepreneurs experience failure. Success comes from a lot of persistence and determination.
Michael Jordan, former NBA star, once said, "I've failed over and over and over again in my life. And that is why I succeed." Watch the clip here:
Max Levchin, the co-founder of PayPal, a successful online payment company, also once explained how determination and persistence help him to succeed:
The Ability to Start Over
Entrepreneurship is the process of starting over. Starting over is the essence of entrepreneurship.
Our natural tendency is to be somewhere safe and familiar, as well as to stay in our individual comfort zone.
However, when we talk about entrepreneurship, it's different. The entrepreneur strives to obtain a comfort zone, but until he/she gets there, he/she will find himself/herself dealing with new things that are not in his/her comfort zone.
When an initiator has a concept, he/she begins to formulate the idea, to prepare a work plan, and to promote it.
Every project is a kind of new beginning. To promote your venture you have to do new things, think outside of the box, develop new skills, get to know new people, etc. All of these tasks are necessary if you want to reach success.
The difficulty begins when the project fails, when an initiator is forced to start again from scratch. This can be compared to hitting the restart button on a computer so that it will start smoothly again. Just like this, an initiator must recognize the failure of one project, close it, and begin a new venture.
This ability to admit a failure and start over again is not obvious, it requires a positive outlook, determination, persistence, and an entrepreneur's faith in his/her ability to succeed.
At Entrepreneurship for Kids Program, we talk about failures, how we feel about them, and how people we know respond to failure. We attempt to understand how we will be able to find the energy to start over once again.
It is possible to develop this ability to start over, and it seems that it is never too late to learn. You can train yourself to try new things and to challenge yourself on an issue which you find particularly demanding. Obviously, it is better to try this with something that interests you.
The more we habituate ourselves to get out of our comfort zone and have new experiences, the more we practice starting over without the anxiety of obstacles and new challenges. These are important qualities for being entrepreneurial.
Entrepreneur skills & entrepreneurship education