It’s True…

It’s True. Persistence Pays!

By Loral Langemeier

As most economists will tell you, entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.  I’ve always believed that. In fact, I’ve been shouting it from the rooftops for years and particularly since the economy started to go south. All the while, the media continually harped on the negative (to put it mildly).

Let me say it again, just to be clear. It is and will always be the entrepreneurs of the world that resurrect our economies and rebuild opportunity for our future.

Count on it.

The most recent government data reports there are 29.6 million small businesses in the U.S. These businesses historically employed just over half of all private sector jobs and they have been bringing in 64% of net new jobs over the past 15 years.

It holds true today.

What’s more, according to the SBA, a whopping 52% of today’s small businesses are home based! It’s also reported that 70% of Americans prefer to be self-employed.

How about you?

Are you convinced you need to ignite your entrepreneurial dreams and finally go for it? I certainly hope so, because I’ve been speaking and writing about the promised land of business for over 10 years now. It’s time for you to listen.

I even know what’s holding most of you back today. It’s not necessarily the economy, even though you may have lost your J.O.B., (Congratulations, if you have!) The time is NOW to take the lead in your life and be responsible for your own future. Stop counting on someone else to provide you with financial independence. That doesn’t work.

You have the skills necessary, right here, right now, to get started. No excuses!

44% of home based ventures started with less than $5,000. Plenty of those started on a shoe string budget nowhere near that amount. Yet home businesses today are a $427 Billion industry.  (Yes, that’s with a “b” as in Billion!) In fact, 20,000 home based entrepreneurs made over $1 million dollars each in 2009.

Now that’s opportunity knocking! What’s holding you back?

Let’s take a quick look at three characteristics studies have shown successful entrepreneurs possess. You’ll see that it’s not as hard as you’re making it out to be. (Stop doing that!)

1. Entrepreneurs Have Self-confidence
This is not a magical power! It’s something you can develop if you don’t already possess it.  Having confidence in yourself and in your strengths and abilities is essential. I’m not talking about bravado or braggadocio, but you need an unshakeable belief in yourself.

2. Entrepreneurs Are Achievement Oriented
Results are gained by focused and sustained effort. You need to be able to concentrate on achieving a specific goal, not just accomplishing a string of unrelated tasks.

3. Entrepreneurs Are Action Takers
While there is risk in reaching for any goal, you have the confidence necessary to take ACTION to overcome obstacles and forge ahead.

So, which one is the most important characteristic?

Without self-confidence, nothing else is possible. If you don't believe in your abilities, then the first challenge that arises may knock you off the path to achieving your goals.

Step One: Positive Thinking

It all starts with a positive attitude! Just believe that something good will happen. That’s the first step.

Negative thinking is not allowed (so stop it right now). You must truly believe that there are no circumstances hard enough to deter you from reaching your goals.

Try the exercise created by French psychotherapist Emile Coue; every morning repeat "Every day, in every way, I am getting better and better." You might be surprised that this simple exercise has been getting results since the early 1900s!

Remember too, that positive thinking can be contagious. When positive thinking spreads, it can open doors to new ideas, customers, friends, etc.

Step Two: Persistent Action

All the positive thinking and believing in the world is useless if it’s not applied towards a goal. You have to take action, no excuses allowed. This action must also be persistent. Trying once and giving up is not enough. Keep at it one step at a time. If you can't get by a certain step, then find a creative way to try again or go around it.

Entrepreneurs are people who make decisions. They take action and control their own destinies. They are often motivated by a spirit of independence, which leads them to believe that their success depends on raw effort and hard work, not luck. (And right they are!)

Look ahead and see yourself where you want to be, maintain a strong belief in yourself and your skills, stick with it, and never give up. If you can do that, you're already half way there!

Before I go, let me remind you of one very important fact: Persistence Pays!

Ready Go!

Loral Langemeier
CEO/Founder of Live Out Loud, international speaker, national best-selling author and money expert. www.liveoutloud.com

Source of statistics:
Office of Advocacy, Small Business Administration

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