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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 September 22, 2020

How to Wake Up Early: 6 Things Early Risers Do

How to Wake Up Early: 6 Things Early Risers Do

You have probably heard the success stories about people who wake up early. Apple CEO Tim Cook, Oprah Winfrey, and Olympic medalist Caroline Burckle all talk about the positive impact of waking up early on their lives.

Even though many assign a portion of their success to waking up early, many find it difficult to make the switch. While most people know what needs to happen to change their life, they find then difficult to implement consistently. To understand how to wake up early, you need to tap into the wisdom of those already doing it.

Here are the 6 things early risers do:

1. Stop Procrastinating

The first thing you need to do when you want to learn how to wake up early is to go to sleep earlier. Stop procrastinating. You will find it much easier to wake up when you are getting the proper amount of sleep. Set a bedtime that allows you to get 8-hours of sleep and hold yourself accountable.

The problem most of you will have at first is how tired you will feel. If you are someone who goes to sleep after midnight, waking up by 6 a.m. will not be easy. The reason you need to push through that initial difficulty is that you are going to be very tired at the end of the day. Realistically, you probably would fall asleep at your desk or doze off on your lunch break. Either way, waking up early no matter how you feel will motivate you to go sleep at the proper time that night.

Think of it as someone who procrastinated until the night before their project was due. Having done this myself, you do what you need to do to complete the project, whether that means working all night or cutting some corners because you don’t have time to triple-check your work.

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After you turn in your project, you feel both exhaustion and jubilation. After you make it through the workday and crash at home, you promise yourself you’ll never wait until the last minute again. This same feeling will happen when you force yourself to wake up early no matter what time you went to sleep. You are going to promise yourself you will go to bed at the right time.

Most people don’t go to bed when they should because they know they will ultimately make it up in the morning.

2. Pace Yourself

If you want to start waking up a couple of hours earlier each day, you may not be able to make that change all at once. It stands to reason the more drastic the shift, the more difficult it will be.

So, instead of trying to adjust your sleep pattern by several hours, start in 15-minute or 30-minute intervals.[1] If you wake up 30 minutes earlier each week, you will be a morning person by the end of the month. This may feel like you are drawing out your goal but in reality, you are accomplishing it much quicker than most. Most people who are naturally night owls find it difficult to completely change their sleep habits overnight.

Think of it as someone who is trying to quit drinking coffee. Outside of the fact you may enjoy the taste of coffee, your body is used to operating with a certain amount of caffeine and sugar. Some will be able to quit overnight and their body will adjust accordingly. And if you are one of those people, then do what works for you.

However, if you were to take an incremental approach, then you may first start drinking your coffee black. Then, you could switch to decaf before slowly lowering the amount of coffee you drink each day. As you can see, this approach will help minimize the feeling of withdrawal while getting the results you want.

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3. Watch Your Lighting

Light reduces your body’s production of the sleep-inducing melatonin hormone. In practical terms, your body naturally wants to be awake when the sun is up and go to sleep when the sun is down. This is called your circadian rhythm.

In the technology-driven world we currently live in, you likely look at a screen or two before bed. Studies show television and phone screens trick your body into thinking the sun is up. As a result, your body starts producing less melatonin. To help you fall asleep, you should stop looking at screens at least an hour before bed.

This can also mean that if you want to wake up before the sun, looking at your screen when you wake up can help you to stay awake.

Peter Balyta, the President of Education Technology for Texas Instruments says he wakes up at 5:20 a.m. and scans his emails before starting his day. This is also true for M.I.T. president L. Rafael Rief. He wakes up around 5 or 5:30 a.m. and checks his phone for anything urgent.[2]

4. Make It Worth Your Time

Have you ever woken up early but went back to sleep because you didn’t have a reason to stay up? To put it another way, have you ever fallen asleep because you didn’t have anything better to do?

If you want to be excited about going to sleep and waking up early, then you need to give yourself a reason to be excited. You can accomplish this by listing the three things you want to accomplish the next morning. Notice I said “want” and not “need” to accomplish. You don’t want to be dragging yourself into the next morning kicking and screaming.

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Your list should not only include what you want to accomplish but also why you want to accomplish it. If you want to take it a step further, list the consequences of not waking up early.

People who have figured out how to wake up early are shown to be more successful, persistent, and proactive in their life. They tend to be happier and handle stress better. It is also shown that people who wake up early procrastinate less.[3] If you find any of these benefits something you want to add in your life, then waking up early is shown to help.

5. Avoid Binging

There is a difference between sleeping and getting a good night’s sleep. Sure, you can drink alcohol and fall asleep, but you will not be getting quality rest. You will wake up feeling as though you slept for only a couple hours.

It is best to stop drinking at least 4 hours before bedtime. Binge drinking is known to impact your sleep-inducing melatonin hormone levels for up to a week. The same holds true with eating a large meal right before bed. It is not that your body can’t process food and sleep at the same time. The main concern has more to do with the possibility of indigestion or heartburn than anything else.

If you find yourself dealing with either of these symptoms, then you may want to stop eating at least two hours before bed.

6. Get the Blood Flowing

Those who have mastered the technique of how to wake up early tend to start each morning with movement.

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Your first movement is to get out of bed. To help you get out of bed, have your alarm far enough away that you need to get up and turn it off. Before you allow yourself to contemplate going back to sleep, take a moment, and do 10 push-ups or 10 jumping jacks. Think of each exercise as you taking one step further from being able to go back to sleep.

Mellody Hobson, President of Ariel Investments wakes up at 4 a.m. each morning. She starts each day by exercising. Her exercises include running, weight lifting, swimming, and cycling.

You decide for yourself how you want to get your blood flowing. Whether you want to go on a walk, workout at the gym, or do something at home, make sure you are scheduling time to exercise.

Final Thoughts

The key to understanding how to wake up early is to recognize that it is heavily driven by the actions you take the night before. You will wake up early if you go to bed at a good time and get the proper amount of sleep.

By taking the time to prepare yourself both mentally and physically each night, you can ensure you are positioned for success the next morning. Once you have taken the proper actions the night before, make sure you use that momentum to start your day, on time.

The goal is to make the actions you want to take as easy as possible. The key to changing your life is to discover a way to have the wind at your back, going in the direction you want.

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Featured photo credit: Laura Chouette via unsplash.com

Reference

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