Exhilarating, humbling, challenging, inspiring, mind-numbing, nerve -racking, life changing, exasperating, exhausting, empowering, maddening, uplifting and enlivening. That, in the words of a seasoned expert, describes the daily reality of being an entrepreneur. Members of a special breed, entrepreneurs possess vision, courage, creativity, drive, spirit and grit. So why do about 50% of entrepreneurial ventures fail during their first year in business?
It’s Not Their Business Plan or Funding or Products..It’s YOU!
My guest on this episode of The Business Edge is Michael Dermer author of The Lonely Entrepreneur – who shared his insights that not only saved his own company, but has made the difference between success and failure for hundreds of struggling start-ups. âItâs how we manage the struggle of being the entrepreneur,â he attests, based on his harrowing experience who watched the business he built for 10 years almost get destroyed in 10 days by the 2008 financial crisis. From this experience he developed a unique method on how to thrive under the pressure, chaos and burden of being the entrepreneur.
Listen to This Podcast and Learn
* The seven deadly business sins we must avoid at all costs.
* How the entrepreneurâs perspective can stunt progress or propel to victory
* Whatâs the âBrutal Truth âand the âFour Pâs? Why theyâre foundational concepts to success.
* Why itâs not your IQ but your emotional intelligence (EQ) which is the secret sauce to be a winner
* How to negotiate from a position of strength rather than weakness – create leverage when you donât have much.
The key takeaway: Manage the “struggle” and you’ll be successful All entrepreneurs have basically the same problems – lack of money, resources, time, etc. It’s the ones that can look at things from a different perspective – who can rein the the Four P’s – that will thrive under pressure. It’s believing in yourself, acknowledging your gaps and what you need to run the business instead of feeling like’ it’s running you.