Summit OS® - stevepreda.com reposted this
Do You Have the DESIRE to Succeed? I’ve long suspected that business success, like any noble endeavor, ultimately depends on DESIRE. Skeptical? Here’s a question: What’s the one indispensable component for building a successful business? Is it IDEAS? Nope. Ideas are everywhere. Since 1968, attempts to create a tablet included the Dynabook, the GRIDPad, and the Apple Newton, yet it took Steve Jobs’ determination to make the iPad a success in 2010. The same goes for electric cars. Prototypes date back to 1881 with Gustave Trouvé’s adapted tricycle. Yet it took Elon Musk’s passion to bring electric cars to the masses with Tesla. How about CAPITAL? IKEA was founded by a 13-year-old Swedish farm boy. Recent examples of bootstrapped success include MailChimp, GoPro, Patagonia, and Craigslist. Meanwhile, 7 out of 10 venture-funded companies fail, while countless entrepreneurs rise from deep debt to extraordinary success. (Think Walt Disney, Thomas Edison, Henry Ford, Colonel Sanders!) Maybe it’s INFRASTRUCTURE? Amazon tried to copy Square’s point-of-sale card reader with Amazon Register, yet it didn’t gain traction and was shut down in a year. And remember Google Plus? Or PEOPLE? Arnold Schwarzenegger, Sly Stallone, and Bruce Willis launched Planet Hollywood to compete with Hard Rock Cafe. Yet Planet Hollywood struggled and is now mostly a memory. What about EXPERIENCE? Richard Branson started Virgin as a teenager, and IKEA’s founder, Ingvar Kamprad, wasn’t even out of his teens. Many young entrepreneurs succeed without experience. Mikaila Ulmer, founder of Me & the Bees Lemonade, started at age 4, and by 11, she secured a $60,000 investment on Shark Tank and got her products into Whole Foods. Meanwhile, highly experienced experts often struggle to launch businesses. Burdened by the knowledge of all that could go wrong, they’re less likely to take the leap or stick with it. Could it be CONNECTIONS? Plenty of well-connected individuals fail. For instance, Jimmy Carter’s brother Billy launched Billy Beer, which didn’t last long. Neil Bush’s Silverado Savings and Loan venture didn’t fare well either. And if connections were everything, family businesses would succeed more often. Yet more than 70% fail to transition smoothly to the next generation. So, I’d argue that DESIRE is the only indispensable ingredient for business success. Why? Because desire drives perseverance, which overcomes every obstacle. Think about it: No capital? Bootstrapped businesses prove it’s possible. No infrastructure? Many companies start in garages. No people? Entrepreneurs can start solo or with minimal help. Experience and connections? We’ve already seen that those don’t guarantee success. But can you imagine a business succeeding without DESIRE? Continue reading through the link in the first comment. Summit OS® - stevepreda.com, Peter Santry, Thomas Addison, Jonathan Allen, Andre Ferreira, Katalin Preda