Bill Baren is a trusted, well-known coach and speaker. As owner of Bill Baren Coaching, he has helped thousands of entrepreneurs through his online learning programs and live trainings. Recently, Bill wrote a blog article that I found to be particularly insightful, encouraging, and helpful. Here is a except from that blog post:
“It took me more than 4 years and running through all my savings before I could earn enough from my business to afford to live a good and simple life.
That’s a long time to be earning less than I need.
I could have quit.
I could have hedged my bets and not given my business my all.
But, I’m glad I stuck it out. Because, I can honestly say that I owe my current success to those amazing and difficult first 4 years.
And I’ve noticed that there’s a mindset difference between the people who quit, and those who stick it out and make it through the tough times.
From what I’ve seen since talking to small business owners, most businesses fail for 2 simple reasons:
- The business owners quit
- The business owners sabotage their success and thus quit by default.
So, what can you do to not only stay in the game, but also play full out in this game we call business?
Man, I don’t know about you but I had some major “aha’s after reading his article.
Slow and steady can really win the race. Being very deliberate and consistent can be powerful.
Sometimes hearing the stories of how others have built 6-figure businesses in 1 year can be intimidating. I often find myself comparing my starting point to someone else’s midpoint. We don’t always acknowledge the blood, sweat, and tears that it took to get to that point.
Don’t get me wrong—I am not saying that you can’t build a 6-figure income in a short time, but it’s important to define and chart your own course. What does true success mean for you? As Bill noted in his article, it took him 4 years to get to a good and simple life.
What is your definition of a good and simple life?
The most important lesson I took from Bill’s article is not to quit.
Sometimes at the first sign of distress we are ready to throw in the towel. Failure is a part of growth. There will be bumps along the road to the success. They make you stronger. Those bumps help you appreciate the smooth passages.
It doesn’t feel like it—but a breakthrough in your business can just be steps away. You can’t always see it. It’s about being vigilant—learning and growing from those things that you’ve failed at.
Most entrepreneurs quit right before they have the breakthrough needed to ratchet them up to the next phase of their business. It reminds me of what I tell my clients all the time with regards to sales: research says that it takes 4 to 5 touches before a customer will buy—most entrepreneurs will quit reaching out at 3.
Let me repeat that, most customers buy at 4 or 5 touches and most entrepreneurs quit reaching out at 3. That is just one more phone call, email, or LinkedIn message.
Don’t quit. Hang in there. Reach out to your network for support. Continue to do the things that you’ve seen success from. Analyze it. Break it down. Ask yourself, “Why was this particular venture successful?” Then, duplicate it!
I’d love to hear your feedback. How do you identify with Bill’s message? What obstacles have you faced and overcome in your business? What breakthrough have you recently had? Are you one step away from greatness in your business?