Statistically, 9 out of 10 startups fail. Being an entrepreneur is tough, the journey is often fraught with a plethora of challenges and hurdles. You’re likely to encounter numerous setbacks and failures that will test your capability and determination.
As there is no one-size-fits-all guide to success, the road to achieving it is rarely smooth. Inevitably, there will be times when you feel like giving up. However, the ability to keep pushing forward despite this is what sets successful entrepreneurs apart from those who quit easily. This is why perseverance and optimism are crucial for helping your business prosper.
Optimism is the belief that things will turn out well in the end. It’s a positive mentality which can help maintain motivation and inspires others to believe in a project or idea. An optimistic outlook can also help you see opportunities where others see only obstacles and can also keep you focused on your long-term objectives rather than getting bogged down in short-term mishaps.
Whereas perseverance is the willingness to continue working towards a goal and having the grit and determination to keep going, even in the face of adversity. Without perseverance, it’s easy to become discouraged and give in when faced with difficulty.
Although some people are more inclined to have these traits naturally, these are still learned behaviours and are ultimately a mindset choice which can help any entrepreneur on their journey to success.
Failure. This can become a place of fear, but it’s all about perspective. Optimism can significantly change the way you see it. If you think positively, you can see failure as your friend and an opportunity to learn, grow and do things differently.
Maintaining a positive attitude, even when things don’t go according to plan, is essential to build resilience and enables you to bounce back quickly. Running a business is full of ups and downs – you’re bound to face challenges and fall down a couple of times. That’s also where perseverance comes into play too as you must refuse defeat, dust yourself off and keep going.
I had cancer at 16 and it changed my outlook on everything. Although, I’ve always been a naturally positive person (which is what I believe contributed to my recovery) it helped me realise the power of positivity. As a result, I adopted a mindset where I think “what is really the worst thing that can happen?” It doesn’t get more serious than staring death in the face and this helped remove all barriers for me. I now always think “why not?”. I don’t see obstacles just goals. For instance, if you’re not an expert in a particular field or lack a skill you need, it shouldn’t be seen as an issue. Although it’s good to be self-aware, it’s important not to fixate on problems excessively and instead look at them as opportunities. If you are positive and enthusiastic about your purpose, you can upskill yourself and find the right people to bring your vision to life.
It doesn’t matter if you fail, if you get back up and learn from it. I’ve experienced multiple setbacks from losing my first business, being jobless for months and being exploited as an immigrant. However, I refused to surrender, carried on and now I own a multi-million-pound business. The journey wasn’t easy and while there were various contributing factors to my success, persistent optimism and perseverance significantly helped me get to where I am today.
When combined, perseverance and optimism create a powerful force to help entrepreneurs overcome the many hurdles they will inevitably face in business. By embracing these qualities, it will enable you to weather storms and emerge stronger.