In this quick episode, Bradley shares how to beat the odds in business and find success.
What If Flights Crashed 96% Of The Time?
If it was a known statistic that flights crash 96% of the time, would you still fly? Probably not. But did you know that 96% of small businesses never see their 10th birthday? And 90% of businesses don’t even survive their 1st year? These are the odds of business that every entrepreneur tries to beat. However, without the right information and skills, there’s a high probability that you will crash and burn.
Can You Beat The Odds?
I believe that business gets harder, not easier as time goes on. Statistically, most businesses don’t survive the first three years of business. Of those that do, few make it past $1M. Let’s think about a different analogy. My mom was diagnosed with cancer a few years ago. She beat it and it came back, just for her to beat it again. She is beating the odds, consistently. Overcoming problems and challenges in your business may not be life or death, but it certainly has a huge impact on your business’ life. So is it even possible? My answer is yes. In the rest of the blog, I’m going to share how.
How To (Actually) Beat The Odds
As a business owner, you’re taking the 96% risk of failure every single day. You will often see your business crash and rise again many times. When you begin to look at the track record of success in business, you will never find a successful person without many failures. 1+1 may not always equal 2, but with experience behind your business, you’ll find that the returns compound and 1+1=4. The best way to do this, is to look at the common threads that successful owners have in their businesses. Is it software, onboarding, idea to creation of a product, or building an audience? They likely have guiding principles that bring success.
Look At Other People’s Success
Most entrepreneurs who survive have built multiple successful businesses. The companies found a formula for success and they use what they KNOW works. I want you to sit down and think, what are some of the common threads that you believe led to your success? Who do you think has been successful in the areas where you are weak? If you pick someone else’s brain, you’ll get a few different good ideas to improve your business and begin to bend the odds in your favor.
Grow Your Leadership
Bradley has many resources to grow your leadership in the area of vision and priorities. Check out a few of them:
How many times has someone found a technique that works for them, and they encouraged you to do it? I don’t subscribe to everyone needing the same technique in business, aka “The Bathrobe Theory of Business,” and here’s why. Keep reading…
Learn why goals aren’t getting you the results you want, and why you should be setting objectives and key results instead. Keep reading…
It’s difficult to get to your destination if you aren’t sure where you currently are! After all, the path from Minnesota to Canada is very different than the path from Mexico to Canada. If you aren’t certain where you’re at today in business, you need to take the Rainmaker to Architect assessment. It will gauge your strengths and weaknesses as a leader and in your business. Then, you’ll get detailed, specific suggestions for improvement. Take the assessment here.