The One Thing You Need For Your Business

What people say they will do versus what they actually do is often very different.

This can be especially difficult in business.

You have an idea so you start talking to people. You go to co-workers, friends, family and perhaps do a survey about your new idea.

Most people say "Ya! That's a great idea! I would definitely pay for that!" So you figure your idea is perfect and you invest more time and now some money to get it started. Soon enough it's ready and you send out the details to all the people you spoke to before.

And then...

Crickets...

Nobody is purchasing. All those people who said it was a great idea or said they would purchase now have excuses. And they may be very legitimate excuses.

In either case, you now have a problem. You are fully invested in your idea and the bills keep coming. What do you do?

Unfortunately I don't have a one-size-fits-all answer but I can give you one word that every entrepreneur needs to engrain in their body.

Commitment.

Business is not easy.

If you think you're going to make a quick dollar, you are delusional.

All the ultra successful businesses you know of now did not make it overnight. They may look like "overnight successes" because they popped onto your radar all of a sudden but they were 10, 15, 20 years in the making.

They eventually got their break because they were committed no matter what.

It's no surprise that over 80% of businesses fail within the first 2 years.

Let's go back to your idea that everybody says was great.

After almost 10 years in business, I know better than to look at people's lips. I look at their wallet (or purse). What are they spending their money on?

Every time you go to the grocery store and spend money, you are voting. The grocery store does not care whether or not you "say" you are going to buy organic produce. They know whether or not you actually purchased it. They bring in the stuff that sells, not the stuff that they think will sell.

Do they have to test products? Absolutely!

And this is what we overlook when we're starting a business. We forget to plan for the worst. How much risk are we willing to take and how much of a loss are we able to take?

I have definitely made this mistake. I'm an optimist which has served me very well but it has also hindered me (This is why partners are great but I'll save that for another day).

Even the best in the world fail more that 50% of the time. The best hitters in major league baseball have a batting average of 0.300 which means that they only succeed 30% of the time! And how many major league baseball players are there in the world?

Business is no different. Just like major league baseball players, you need to be fully committed and willing to put in the work if you are going to succeed.