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When To Throw In The Towel Or When To Persevere

When To Throw In The Towel Or When To Persevere

It goes without saying that persistence is the most distinguishable and important characteristic of a successful person and most definitely a successful entrepreneur. Lack of creativity can be overcome with persistence and hard work. (Interestingly, while a person may not be terribly imaginative, persistence always helps the imagination to figure it out.) Lack of money can be overcome using the same formula.

Why? You need the persistence to get you through the rough patches and over the mountains that will inevitably be in your path to succeed. Sitting by the roadside gets you nowhere.

It all comes down to persistence and hard work.

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Persistence is Vital

In The Strangest Secret,[1] Earl Nightingale, one of the fathers of personal development, shared a statement from President Calvin Coolidge, “Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent.  Genius will not; unrewarded genius is almost a proverb.  Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan ‘Press On’ has solved and will always solve the problems of the human race.”[2] (This excerpt from Nightingale’s recording became so associated with him, many believed it was his.)

The fire of your vision for the future of yourself, your family and enterprise is the fuel that pushes you forward when things, makes you work the extra hours, and gives you the creativity to solve problems you never thought you could solve on your own.  It gives the meaning to your goals,[3] and expands your vision, letting you see the broad view as well as the long view of things. It opens worlds to you didn’t know existed.

It’s that persistence which anchors you. As John McCormack, founder of Visible Changes, and 1989 Entrepreneur of the Year, says in his book Self-Made in America, “The essential ingredients of entrepreneurship are a vision, a sense of mission, and a will to keep going forward when everyone else is telling you to go back. . . . It wasn’t brains, brawn, or even our business plan that resulted in our ultimate success.  It was persistence, plain and simple.”[4]

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It’s the thrill ride—the ups and downs of a roller-coaster—and you’re the ride operator.  And when you reach the summit, you look back on everything you’ve done and see what’s happened and you wouldn’t change it for love or money.

Should You Throw in the Towel?

But even with all that, sometimes you have to throw in the towel.

The question is when is that time?

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Before you chuck it all, there are some things to consider.  First, is your attitude.  Sure things have gone bad for the moment, but you need to realize it’s not a failure.  As long as you can pull valuable lessons from the experience, you haven’t failed.  I knew a man who priori to the recession of 2008 was pulling in six figures. The recession hit and his income plummeted. He had to get a job, which allowed him to use all of his skills. Was he a failure? Of course not, circumstances beyond his control forced him into an unpleasant situation. But he still has his business, and the other job has given him other benefits that helped him with other situations.

So if you’ve got to shut down the business—throw in your towel—learning is essential.

A legendary anecdote about Thomas Edison’s search for the perfect filament for the incandescent light bulb is that a reporter asked him how it felt to have failed over 6,000 times in his search. Edison replied, “I haven’t failed 10,000 times. I’ve just found 10,000 things that didn’t work.”  History shows only the triumph, not the time it took to reach the triumph.

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So how do you know when?[5]

Some are easy. When there is no longer a demand for what you have to offer, and you can’t figure out a way to retool the product or business. Time to shut it down.  (But then again, look at the resurgence of vinyl, which was declared dead in 1990s. Sometimes maybe put it in suspended animation, instead.) No repeat customers is deadly. If you can’t get fresh faces to your business it’ll be a slow, agonizing death, but it will be a death.

The costs are too high.[6] Losing your family, your health, the person you once were, you look at everything with jaded skepticism. At this point it’s time to reevaluate and if you can’t fix them, get out fast. Good family relationships, health and an optimistic attitude are all essential ingredients to success.  If you’ve lost your vision of your project and can’t recover it, again, it’s time to go.

But if you must throw in the towel, remember to take lessons away, because that’s what entrepreneurs do.

Featured photo credit: Unsplash.com via unsplash.com

Reference

[1] Earl Nightingale: The Strangest Secret
[2] AZQuotes: Calvin Coolidge Quotes
[3] George Ambler:Persistence: The Key to the Achievement of Meaningful Goals
[4] Google: Self-Made in America, Page 77
[5] Fox Business: Knowing When to Throw in the Towel
[6] Entrepreneur: 3 Signs That You Should Shut Down Your Business

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Last Updated on July 3, 2020

6 Things To Do Every Day To Ensure You Stick To Your Goals

6 Things To Do Every Day To Ensure You Stick To Your Goals

Sticking to your goals can sometimes be challenging. We all want better health, better careers, and better jobs, and we want to cast an impression on everyone that we are living fulfilled lives.

Yet to reach our goals and make every minute of our time count requires commitment, consistency, and hard work. Setting goals is one thing, but sticking to them is another. We have to observe certain daily practices if we want to get the best out of ourselves.

Here are 6 things that you have to ensure daily to reach your goals.

1. Involve Others

You have to be accountable for the actions you are committing yourself to. Involve everyone around you, get them engaged, and talk to them on how they can help you accomplish your goals.

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When you involve others you feel, you have a responsibility towards them as well as yourself. Every day, make sure you are accountable for sticking to your goals. By joining groups or engaging others, you have more motivation to reach your goals.

For example, if you want to read more, try joining a book club. If you want to be a better entrepreneur, join an entrepreneurial organization.

2. Visualize the Rewards

Reaching a goal can be challenging and sometimes, it can be overwhelming. When the journey becomes tough and difficult, try to stick to visualizing your successes every day.

Wake up to visualize what rewards you will get from sticking to meeting your goals. If you want to lose some pounds, visualize yourself already underweight and benefiting from being underweight. The mind has a way of channeling your body and intentions to sticking to your goals and reaching them.

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3. Break Down Your Goals

Try to break down your goals into tiny chunks. The smaller the size of the goals, the more willing and prepared you are to meet them.

For example, if you find it difficult to get out of the house and take a workout at the gym, why not try to break the goal into making sure you are always dressed for the gym daily? By doing this, you demonstrate that you are moving in the right direction, and you can keep this momentum so you can meet the larger goal.

4. Reward Yourself

For every progress you make daily towards reaching your goals, try to vindicate and reward yourself. By doing this you appreciate yourself and the hard work you have put in for the day.

When you reward yourself, you program yourself to benefit from a larger reward in the future. You also propel yourself to gain daily rewards, which can be enticing and motivating. Rewarding yourself serves as a form of positive reinforcement that reinforces your mind and behavior to stick to your goals and stay motivated.

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5. Measure Your Progress

It is easy to become frustrated when you are not getting instant results. Change can be slow and rewards are not always immediate. Still, progress can be measured even in tiny bits, so take time to look back at where you are coming from.

You don’t have to feel depressed about not making that major progress in an instant. But when you journal or snap pictures to document your progress, no matter how small, you will feel grateful and elated to see what difference you have made from where you are coming from up until now.

6. Believe in the Possibilities

If you don’t even believe in the possibility of reaching your goals, how can you expect yourself to stick to your goals in the first place?

By believing in the possibilities of accomplishing a goal or task, you increase your chance of reaching it and eradicating whatever roadblocks or challenges you may face. Believe in what you can achieve.

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What self-belief has over self-control is that while self-control can be depleted but self-belief cannot. We all have an enormous reservoir of how much we can believe in ourselves.

With believing in ourselves comes perseverance, determination, and desire to reaching our goals. Every day, understand that what you need to keep going is your belief toward achieving your goals. Your goals are reachable if you think you can reach them!

Final Words

Due to circumstances in life, people tend to abandon some of their goals in life. You may also feel this way sometimes. In that case, just come back to this article and remember the 6 ways you can help yourself stick to your goals.

People don’t always reach their goals, but you will never know if you can reach them if you don’t stick to them in the first place. As long as you stick to your goals, there will always be the possibility of you achieving them!

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Featured photo credit: Kelly Sikkema via unsplash.com

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