Success requires time and sweat
August 20, 2013
Those already in business have learned the hard way. Those who are just starting out are probably starting to see the truth. And those just thinking about starting a business might benefit from hearing the truth. The truth is, there is no quick path to success. The reality is it takes hard work and time (lots of time) for most businesses to finally find success
SAN ANGELO, Texas Those already in business have learned the hard way. Those who are just starting out are probably starting to see the truth. And those just thinking about starting a business might benefit from hearing the truth.
The truth is, there is no quick path to success. The reality is it takes hard work and time (lots of time) for most businesses to finally find success.
Like most things in life, patience and persistence is key, especially in business.
According to NationMaster.com, technically you can start a business in the United States in five days. That means the time it takes to have an idea, file the paperwork and receive confirmation that you are in fact officially in business, taxes and all, could take you five days. But just filing the paperwork is by no means a sign of success; the road has only just begun.
The next steps are the ones that make all the difference. They are the steps that include months or years of late nights, early mornings, long hours behind a computer, long hours on the road, and lots of nos to be heard. But that just means you are closer to success.
According to the Small Business Association, one third of startups fail within two years and 56 percent fail in four years. You might say that is just a statistic, but more important, is what it truly means for those considering going into business. Most cash flow projections dont show positive profit until after five years. The important thing is the owner knows profit is supposed to be there so they know how long to wait. The worst thing you can do is to have not known when the end of your long hard road should be as you push on far past it.
A business needs time to establish itself, discover which products or services are most profitable, invest in advertising and marketing, upgrade technology, find trusted advisers and find trustworthy and reliable staff. Many businesses dont ever get to take all of these steps. Many have difficulties from the beginning and soon give up. The most important of those steps is to find trusted advisers. Trusted advisers include attorneys, CPAs, business consultants or advisers, marketing professionals and other people who can help make better informed decisions for your business.
I encourage everyone beginning their path to starting a business to research the resources out there available to help you. Many people have gone down the same road as you and are happy to share their advice and wisdom. The Small Business Development Center is also always here to help you find your way. Good luck!
Business Tips was written by Jessica Lambert, Business Development Specialist and Certified Business Adviser I, and Certified Training Coordinator of Angelo State Universitys Small Business Development Center. Contact her atJessica.Lambert@angelo.edu.