A few weeks ago I met a small business person who I haven’t seen for some time. He was successful at one time in the financial services sector but through personal circumstances he eventually overextended himself and lost almost everything.
It’s hard to pull yourself back from financial disaster. Second acts are not easy. After you have got a real good hiding out there in the marketplace, a bloody face and a dried out bank balance, it takes special character to pick yourself up and start anew. Some people may simply give up. Others may even take drastic measures such as turning on themselves – one small publisher I knew got into deep financial trouble and turned a gun on himself. An even smaller group of people will decide to try again and give it their best.
The small business person who I met recently grew up in the same tough neighbourhood and decided to start something new. He began a business in a service industry. The business has grown, one some large customers and prospects look good. Yes, it has taken several years to get the business up to where it is now but this business owner had the character, mental and emotional toughness as well as business acumen to start up and build something from virtually nothing.
These are the type of people that won’t be put down no matter what the circumstances, the state of the economy and the prevailing environment.
While others search for all sorts of horses to ride to earn a living or make an income, entrepreneurs ride their own horse. Instead of relying on others for their careers and income accumulation, they rely on themselves. Yes, business over the long run is always a team sport but the self-reliant individual is responsible for the initial energy, original vision, passion – all the ingredients which break through inertia and establish a small venture or business. Self reliance means depending on oneself, the individual, to come up with the initial idea, become involved in detailed business planning and develop the product or service on which the whole enterprise depends.
Abraham Lincoln (1809 – 1865, politician, President of the US) said: “As our case is new, we must think and act anew.” That’s the thing isn’t it?
Picking yourself up after your falls, second acts in business or in life require new, fresh approaches. It’s one thing having nostalgia for the past but what worked yesterday isn’t necessarily going to propel you into a new future. Instead, have, as one expert said, nostalgic for the present or the here and now.
Starting to think and act anew involves creative thinking that acknowledges present reality, current market forces and what people want now and possibly into the near-term future. Not necessarily what they bought yesterday but what they are going to buy today, this week, this month and this year.
If you are preparing yourself for a second act in a venture or small enterprise, you may be interested in a new resource available called “Breakthrough Ideas”. Trial and error is vital for learning but having a professional business and entreneurship guide to take your new business idea from your head and turn it into a viable product or service can help you realise your vision sooner and perhaps save wasted investment.
When you get into deep waters or strong rip currents that wash other business people out into the deep blue, the knowledge, practical, hands-on information you will receive from this resource will help prevent you becoming exhausted by panicking, conserve your energy and help realise your new venture.