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Do You Have The 'Stickability' To Be A Successful Entrepreneur?

Apr 15 2014, 11:05pm CDT | by

It’s no secret that successful entrepreneurs have something special that sets them apart from just the dabblers and hobbyists, but exactly what is it that’s different? Every business venture runs...

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24 weeks ago

Do You Have The 'Stickability' To Be A Successful Entrepreneur?

Apr 15 2014, 11:05pm CDT | by

It’s no secret that successful entrepreneurs have something special that sets them apart from just the dabblers and hobbyists, but exactly what is it that’s different?

Every business venture runs into obstacles, challenges, and setbacks. Sometimes they come from the outside world, and sometimes they come from inside the organization or even ourselves. We all make mistakes from time to time! But the secret ingredient that makes some people succeed when others fail is the ability to keep going even after things go wrong.

Greg S. Reid, well-known and well-respected author and entrepreneur, refers to this quality as “stickability.” Simply put, stickability is the power of perseverance. Greg, like every ambitious entrepreneur, understands that first comes a dream, then a struggle, and finally we gain achievement. The primary situation that separates the champions from others is that the champions are willing to do today what others won’t do so they may have what others won’t have.

The key to successful business people and entrepreneurs is the ability to do, instead of just dream, and some of the best ways to cultivate “stickability” is by following your own desires, rather than chasing others.

Greg was recently telling me that one of the funniest things about late night infomercial ads is that the first thing they share with you is how easy whatever you just purchased will fold up neatly and go under your bed or hide away in the closet. Know why? This is exactly where it’s headed.

We get all fired up watching someone else’s excitement and success and naturally want what they have; yet when we get it home for ourselves, we realize that we don’t share that same passion (or commitment) as they expressed towards what got us caught up in the spur of the moment, so under the bed it goes.

Some of the biggest obstacles we as entrepreneurs face is allowing ourselves or others to talk us out of what we KNOW to be true. The easiest way to overcome this is to be careful of who it is we share our mission with.

Remember this: We are a direct reflection of the people we hang around the most, and our income, attitude and lifestyle is the average of that group. Hang around winners, and we become winners. Surround yourself with dream leaches, and they will suck the life right out you.

Greg shared a story with me that illustrates the concept of stickability, and it couldn’t be truer. When Steve Wozniak, co-founder of Apple, was asked what made him and the other Steve so successful, he simply said, “They embraced what they did not have. They embraced their lack. They looked at obstacles as an opportunity.”

He mentioned when microchips came out; they were expensive and could only afford a single one. Rather than dwelling on that challenge, they embraced it. Steve took a HP device that used 20 chips to go from point A to point B.

He took away five and got it to work. Took away another five and got it to work. Until finally he deduced how to go from point A to point B using his one and only chip.

Not because they were trying to be cool, innovative, or sleek, but because they could only afford one chip. By looking at this situation as an opportunity, they found the quickest, shortest and cleanest path and by doing so, changed the face of personal computing. Where could you be if you embraced what you are seemingly lacking at this moment? How can you turn that into a “win” within your business?

Many of us receive great insights yet very few ever profit from it. Seek resources, like Stickability, to gain the wisdom to help set yourself apart from the 95% who merely fantasize about success. Join the top 5% who actually achieve success.

 
Update
2

4 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of 20,000 by 30 p ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

4 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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