In South Africa and the world in general, it is estimated that 80 % of emerging (small) businesses will fail in their first year of operation. Only those that have the ability to weather the tough times have any chances of being in the 20 % that survive the first year. I used to cringe when faced with tough problems in my business. Lately though, as an entrepreneur I have learned to be strong, and I say to myself that as long as I have a head and a brain on my shoulders, I will figure out something to address my challenges and as long as I have done what it takes to create new opportunities for my small business, a situation will soon arise that will help me through the tough times. In other words do not QUIT. Keep pushing your agenda, if you do not, someone else will and eventually make a success of it.
Entrepreneurs that succeed in their small business, typically have very thick skins. They display a certain in-bred confidence that they will eventually overcome whatever obstacles are placed in their way. Some of the characteristics that you need to have as a small business owner are:
Have courage.
Success is derived from your willingness to face adversity head-on. Start every day by tackling the hard issues first and do not procrastinate.
Perceived control.
View your challenges from a position of control. You need to understand life in terms of things that you control and things you cannot control. Always ask yourself, "What can I control in this situation?"
Narrow your focus.
In tough times learn to limit the size and the scope of your problem. Focus on the immediate impact area of the adversity. Learn to separate issues to help you focus narrowly on a workable solution.
Be Creative.
You need to always see a way out of difficulty. You need to be creative and to become more creative you must learn how to think out of the box. Approach the problem differently.
Own the challenge.
You need to take ownership of the problems besetting your business and take action regardless of the cause of the adversity or whose problem it is. You need to say to yourself, "I can do something about this." They would rather fix the problem than fix the blame.
Have A Support group.
You need a support group in the form of family, friends, colleagues etc. Let them know what you are going through and you will be surprised at the amount of assistance you can garner from them
Perseverance.
You need to persist until they win. You need to know, inside, that there is a time limit on tough times. Every downturn in the economy or your particular industry is always followed by a period of expansion.
Optimism.
You have to be a positive thinker, but your optimism cuts deeper than happy thoughts. You have to have a deep belief in your right and ability to live a positive life. This belief gains traction in positive behaviors.
For more small business advice visit www.sendarequest.com
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