Disasters – everyone fears it. Everyone tries to do all they can to make sure they avoid it. They become “risk-averse”, in stock exchange parlance. No entrepreneur wants their business to fail, but sometimes, no matter how hard we try, we are caught unaware and unprepared for failure.
All successful entrepreneurs and business leaders have had their taste of failure. It’s not that uncommon for them to have gone through several unsuccessful projects. For each company that they successfully nurtured, there are typically several ill-fated or dead end ones.
It is the ability to recover from failure, even the most catastrophic ones, that marks a successful businessman. There are several stories of people who come from challenging background that have successfully built up their own companies. These self-made individuals have one thing in common; they persevered even when everybody thought they would fail.
Determination and perseverance are two qualities that an entrepreneur needs to have. They’re critical for anyone who wants to achieve something in life; whether it’s building a business, writing a book, or graduating from college. Online marketing is a good example of an activity that requires a lot of perseverance. If you see a successful marketer, then you are looking at someone who has had to endure his share of disappointment, loss, and bad decisions.
Aside from perseverance, one other important factor that helps with recovery is preparation. It is key to being able to rise up after a hard fall. Well run companies will have a Business Continuation plan in place for situations where something beyond their control disrupts operations. An online marketer should have more than one channel to sell their wares, a back up website just in case the primary becomes inaccessible. Anyone working on online jobs or businesses should have back up connection and equipment in place.
We have talked about Determination, Perseverance and Preparation as qualities needed for getting back on track. There is one other significant quality that is present in successful entrepreneurs. It is Vision. Without it, it is easy for an individual to lose hope and just call it quits. If there is no overriding reason to continue on, why should waste their time trying to get the business up and running again.
The importance of vision to an enterprise cannot be calculated. It is the spirit and the guiding light. If the only motivation for business is making money, then the 1st instance of loss could completely derail it. If there are insufficient funds to continue, why should a person motivated by profits risk losing more? Unless the payout is guaranteed, no rational person would want to continue wasting time and resources.
In the end it is Vision that carries the day for successful entrepreneurs. Henry Ford did not set out to earn huge profits; he wanted to develop a means of transporting people faster and without relying on horses. Bill Gates didn’t focus on making a profit; instead he wanted to put a pc running on his software in everyone’s home in the US.
A network marketer who’s purely profit oriented will never go beyond wanting to earn. Those who wish to help other people succeed are the ones who can go farther and rise higher than the rest. Always remember to put your vision first before profit – become a contributor to society and profits will follow.