Success Is Determined By Your Commitment
In the 22 plus years I’ve been in business I’ve seen a lot of people come and go with their own businesses. The majority won’t survive, let alone thrive.
Yet, some have weathered every storm because they were willing to do what it takes to stay in business. These are the ones others often call “lucky.”
Newsflash! Luck has very little to do with their success.
Running a business is like jumping off the high dive. If you want to succeed, you have to be fully committed.
Most people have no idea what it takes to keep a business going. Countless individuals will start a business only to discovery it takes a more, a lot more, than simply beginning.
Actually, starting a business is the easy part. Keeping it going is yet a completely different conversation. Becoming profitable is still yet another conversation.
With Risk Comes Reward
This post was originally written back in 2014. I was promoting a live event. At that time, I offered a refundable deposit. The idea was to get people to make a commitment by putting down a refundable deposit. When they showed up to the event, they got their deposit back. Simple enough.
Little did those in attendance realize what a risk putting on these type of events could be. What with the space rental, marketing, any support material given to attendees, audio visual, decorations and staff costs, and the investment quickly added up. It could be quite hefty … in the tens of thousands of dollars.
These events were always profitable because I created opportunities for those in attendance to enroll in one of several programs I offer. Yet, there was no guarantee as to what the profit margin would be. The events were always a risk, but when you’re in business, risk is the name of the game.
100% Committed with Restrictions
During the time I was promoting my annual event taking place in October, 2014, I received a message from a woman who wanted to attend the event. “I’m 100% committed to growing my business, but can’t afford to get the $197 refundable deposit ticket.”
She wanted me to forego the deposit to accommodate her. She lives only a few miles from where the location was.
She became upset when I said no. I explained that the deposit would be refunded and still she insisted she be the exception to everyone else putting down a deposit.
I wondered if she had any idea what my investment to offer the event was. Obviously she had no idea. And yet, even if she did, she likely wouldn’t have cared.
Who’s Right, Who’s Wrong?
I don’t share this to say I’m right and she’s wrong, but to make a very important point. Running a business takes risk and financial investments. If you’re not willing to invest in growing a business, you are more likely a hobbyist than a business owner.
When someone says they are 100% committed to running a business, obviously this means different things to different people. This woman was 100% committed with lots of restrictions.
The irony of the situation is that the woman told me the event is exactly what she needed, but she was not willing to be inconvenienced to obtain the very information that could be an absolute game changer for her.
Yet, I would venture to say that even with the right information, nothing would change for someone like her. Why? Because if she wasn’t willing to put a little skin in the game to get a seat into the event, she certainly wouldn’t invest in other necessities to run a business.
Are You Willing to Risk?
I’m not going to beat around the bush here to coddle someone into thinking that running a business doesn’t take some risk. I would be doing a great disservice by pretending otherwise.
I’m not sure where people get misled into believing that growing a business does not require time, money and effort. It does. And if you’re not willing to put “skin in the game” you’re NOT 100% committed.
You can argue this point until the cows come home, but it’s likely if you are holding on to this type of belief you are also holding on to your business floundering.
Maybe You’re Not Cut Out for Business
Some people absolutely should not go into business for themselves. They are not cut out for all that comes with the process.
What they want is the upside of running a business. The freedom they believe they will experience by having hoards of people want to do business with them, but they are not willing to experience what it’s like to methodically build their business.
Ask any successful entrepreneur what it takes to build a business and you will find a common thread. You have to treat a business like a business. And that means you have to invest time, money and energy.
Otherwise, as my one of my business coaches would often say, “You have a hobby not a business.”
The Model Has Changed
Since that time, I’ve done away with the refundable deposit event model. However, I still offer events. They range in price from $47 on up to several thousand. This allows me to attract serious entrepreneurs. Those individuals who know it takes a commitment to grow their business.
To check out my upcoming event designed for “Women of a Certain Age Committed to Success” taking place on December 15, 2016 go to www.powerupthinktank.com. For only $47 you will spend a full day with other conscious women who are all committed to their businesses and their success.
The event takes place in Beaverton, Oregon. There’s just one thing… seating is limited to 35 people and only a few spots remain.