Success Strategy – Leverage your Past Successes and Strengths
In this article we suggest the components of a successful strategy in reaching important business goals. Given the fact that 95% of start-up businesses fail in the first two years, what are the best things to do to avoid this fate? What things should be avoided?
When facing a difficult challenge, how can you improve the odds of achieving the highest possible percentage of your business or personal goals? In order to answer this question, we will draw on a metaphor from athletics, in particular the marathon race. A marathon as a severe test of stamina and willpower provides an excellent paradigm for starting a new business.
When considering a marathon race, the first thing to consider is an appropriate training schedule. Very detailed planning and coordination is needed in order to train adequately yet still avoid injury. A start-up business is similar, in that a detailed business plan is usually needed for success.
In addition, the marathon, although a “solo” event will require some teamwork. It is almost mandatory that a partner or team be used in order to support each other’s continued efforts. As with a business, it is all too easy to “throw in the towel” early. When you are struggling, your team can support you. In training runs, often when one partner is tempted to slow down, teammate or entire team can help sustain their efforts.
Finally, everyone competing in an event such as a marathon needs a fan club. Oftentimes professional athletes remark that their fans carried them through to the finish. This is true in business start-ups as well. You should determine who your best fans are and let them know the important role that they plan as well as thank them for supporting you. You can always recruit more fans to the club as well.
So even if you’re not planning your next marathon, these principles can be useful in your business start-up efforts.