By Patrick Bet-David, CEO of the PHP Agency, and author of “Doing The Impossible: The 25 Laws for Doing The Impossible“
First it was The Great Recession that spiked the unemployment rate. Most recently, it was a government shutdown that furloughed 800,000 jobs. If there’s one thing that is certain, it’s that there’s no such thing as job security.
The new economy has brought with it new technologies that have made it one of the greatest times in modern history to consider entrepreneurship. Unfortunately, having the itch to become your own boss isn’t enough to guarantee success. Many will talk a big game with plenty of business ideas, but how many will actually follow through? The biggest obstacle is fear of the unknown; fear of doing what seems like the impossible.
But without the dreamers who attempted the impossible, there’d be no Apple, no Amazon, no Facebook, and no Tom’s Shoes. If the impossible throughout history has become the new economy of today, then why should we dismiss our own dreams? Why couldn’t our dreams be the Next Big Thing? Is it fear of failure?
I love the phrase “you miss 100% of the shots that you don’t take” because it reiterates that refusing to try is the only real guarantee of failure. The first step to achieving what seems like the impossible is having the courage to attempt it.
Perhaps you find yourself out of work and are looking at taking the leap of faith into running your own shop. Or perhaps you’re already there, and maybe things aren’t going as planned. Or maybe you have a good start-up, but you want to bust it wide open and can’t seem to figure out how to make it happen. Here are five considerations that will help get you to whatever is that next step.
Know Your Why.
If your ‘why’ is strong enough, the ‘how’ doesn’t matter. Your why is what will fuel your entrepreneurial spirit because it’s what keeps you going when you feel tired, overwhelmed or disappointed. The most common answer I get when I ask people why they work is to pay their bills. What an empty reason to work! The great ones do what they do for their whys. They won’t and can’t give up because their why is that strong.
Decide to be the chosen one.
Those who dare to do the impossible desire to be the solution to a problem. They thrive on people relying on them. They enjoy delivering on their promises. They seek out responsibility. There are 12 guys on a basketball roster, but the chosen one is the player who wants the ball when the team is down two points with only four seconds left to play in the championship game. If he makes the shot he gets the glory, but if he misses, he gets the crowd’s disappointment and the feeling of letting his team down. Being the chosen one in any arena comes with a price, but if you decide to be the chosen one, your career will be more exhilarating than you can imagine.
Go all in with one industry.
Everyone is looking for the latest and greatest thing, but the great ones devote their passion to the one thing they love and stick to it. It means putting all your chips in the pot and becoming the best. Good examples are Michael Jordan with basketball or Donald Trump with real estate. Being great at anything takes time, commitment and consistency. The great ones first choose an industry, and then they commit 100% to it. They want to develop something that is around long after they are gone.
Push the envelope.
This means go beyond the limits of what you know you can do and find out what you are capable of. Growth comes from resistance. If you’re not experiencing any resistance in your life, you’re probably not growing personally and professionally. If you find yourself at a point where everything is routine or you are just going through the motions, it’s time to set yourself up to be challenged. Wherever you are, you can always get better. Don’t be content with the status quo!
Silence your critics.
The journey into entrepreneurship is filled with naysayers, those who doubt you and say you’ll never succeed. It will come from family, friends and colleagues, but turning the criticism into motivation is the key. Take their “it can’t be done” and turn it into “I’ll prove you wrong.” There is no better way to silence your critics than to make them eat their words. Always be grateful for your critics and use their doubt as fuel in your tank for doing the impossible.
As originally published 11/14/2013 on http://www.youngupstarts.com/2013/11/14/no-job-security-then-do-it-yourself/