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How To Get Sticking Power In Your Business

Updated: May 28

Red faced and furious, the banker slams the gate to a failed subdivision start. He surveys the property realizing that the trees, a possible financial asset, have all been harvested by the insolvent developer. Real estate investors who look for these scenarios are often called "vulture buyers." What is a loss for the developer and banker becomes a great opportunity for the buyer. But even then, the possibility for loss is great. These savvy buyers know to start with a realistic path to achieve the end in mind. Sometimes failure is the result of a long term plan that is too optimistic. This is the fruit of short-term thinking that demands a profit too soon. It is too great of an investment with too low a probability for a quick profit. This kind of thinking too often infects start-up entrepreneurs. They don't start with a realistic end in mind. I know...guess how I learned! Lesson: Starting without a realistic path to the end in mind can be fatal to starting a new business. In the business of growing trees, it is important to know your market, what you anticipate the market will be in twenty-five years, and what the soils and climate are. This drives your decisions as for what kind of seedlings to plant, what kind of fertilizers are needed and site preparation for maximizing survival. Not thinking through these things can be a great hinderance and even fatal to the overly-optimistic entrepreneur. What does it mean to have a realistic plan? It has helped me to plan assuming a worst case scenario. This is the opposite of overly-optimistic planning. It is closer to realistic planning. Lesson: Planning to survive a worst-case scenario is wise. So, where does optimism come in? Most entrepreneurs quit just before their worst-case scenario is about to end! Not having begun at least considering the worst that could happen, they forget that it is darkest just before the dawn. The realistic plan gives you the perspective that allows you to build and have the needed optimism. Lesson: Beginning with a well thought through realistic plan helps give needed optimism. You start with a realistic plan and you adjust as you go. Keep your optimism up. I am in your corner! Connect with me on LinkedIn, let me know if this has helped you. CLICK HERE Harry T. Jones

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