There are some horrifying statistics about business failure in Australia, which states that a third of all businesses fail within the first year. Here's what it comes down to:
The majority of businesses who have absolutely no clue about how to start a business will often look at past business plans, templates and any other content that has already been implemented. If that's you, you aren't exposing the force of your vision because you're too tied up with the technicalities of business management.
When businesses start with a vision, they instantly set themselves up with a framework that they can rely on; that is, the foundation for future wisdom and imagination for the business and its operations.
On the other hand, when businesses rely upon external frameworks (e.g. business plan templates) they ignore their vision and focus on business management as a priority, and therefore, they run the risk of failing their venture due to the lack of focus on their vision.
Time and time again I hear people say "I'm done" when there is still so much more they could be doing. The fact is that when you eliminate excuses and reverse engineer your ability to meet the deadlines aligned with a passion, you end up building a persistent strategy that assists your work ethic.
Olympians have trained for years to get to the Rio Olympics. They have spent time, money, family time etc to strive for their best. These people have persisted to train for the big event, and although there isn't any training in business, we need to become better everyday because each day is an Olympic event for us all.
What does that mean?
Yes, indeed. Clarity is so important - making sure that you don't bluff your way around the truth and make others believe something that doesn't exist - is a crucial part of business success.
I, a 17 year old; start a finance company with $20,000. Now, either I would have to work miracles to get it going, or it is simply unrealistic. Either way, I would have to be upfront and truthful to myself about whether the business will actually work, and if not, what other options do I have?
Business owners must see that not everything will work, not everything will play out the way it's meant to. However, if you master these three things, your business will already be a strong contestant in any competitive market.