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The Value of Persistence



Many entrepreneurs face multiple setbacks before they achieve their goals. But what makes them different from those who give up is their incredible perseverance. In this blog post, we will explore some of the reasons why persistence is so important for entrepreneurs, and how you can develop this quality in yourself.


Persistence is the ability to keep working towards a vision, even when faced with obstacles, challenges, and failures. It is the willingness to learn from mistakes, adapt to changing circumstances, and try again. Persistence is not stubbornness or blind optimism; it is a rational and realistic approach that recognizes the difficulties of entrepreneurship, but also the opportunities and rewards.


Why is persistence important for entrepreneurs?


Entrepreneurship is not a linear or easy path. It involves a lot of uncertainty, risk, and competition. Entrepreneurs have to deal with many factors that are beyond their control, such as market trends, customer preferences, regulations, and technological changes. They also have to overcome their own doubts, fears, and limitations.


According to a study by Harvard Business School, entrepreneurs average 3.8 failures before final success. This means that most entrepreneurs have to endure several rejections, losses, and disappointments before they find the right product-market fit, the right team, the right investors, and the right customers.


However, successful entrepreneurs do not let these failures stop them. They use them as learning opportunities, as feedback, and as motivation. They see failures as temporary setbacks, not as permanent outcomes. They believe in their vision and their ability to achieve it. They are resilient and optimistic.


How can you develop persistence as an entrepreneur?


Persistence is not something that you are born with or without. It is a skill that you can cultivate and improve. Here are some tips on how to develop persistence as an entrepreneur:


- Have a clear and compelling vision. A vision is a mental picture of what you want to create, why you want to create it, and how you will create it. A vision gives you direction, purpose, and inspiration. It helps you stay focused on your long-term goals, and not get distracted by short-term problems.


- Set SMART goals. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. SMART goals are concrete and realistic objectives that help you break down your vision into manageable steps. They help you track your progress, measure your results, and celebrate your achievements.


- Plan ahead and anticipate challenges. Planning ahead means thinking about what actions you need to take to reach your goals, what resources you need to acquire or use, what risks you need to mitigate or avoid, and what contingencies you need to prepare for. Anticipating challenges means identifying potential obstacles or difficulties that might arise along the way, and how you will overcome them or cope with them.


- Seek feedback and learn from it. Feedback is information that tells you how well you are performing or progressing towards your goals. Feedback can come from various sources, such as customers, mentors, peers, competitors, or yourself. Seeking feedback means actively asking for it or looking for it. Learning from feedback means analyzing it objectively, identifying what works and what doesn't work, and making adjustments accordingly.


- Surround yourself with supportive people. Supportive people are those who share your vision or values, who encourage you or motivate you, who offer you advice or guidance, who provide you with resources or opportunities, or who simply listen to you or empathize with you. Surrounding yourself with supportive people means building relationships with them, seeking their input or help when needed, offering your input or help when possible, and expressing your gratitude or appreciation for them.


- Practice soul-care and maintain a positive mindset. Soul-care means taking care of your physical, mental, emotional, and spiritual well-being. It means doing things that make you happy or healthy, such as eating well, sleeping well, exercising regularly, meditating, relaxing, and having fun. These activities will help you cope with stress, boost your mood, and recharge your batteries.


The Pathway Sedona distinguishes itself by prioritizing your success. Our commitment to the Value of Persistence and the spirit of People Helping People sets us apart.


-Eddie

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