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Don't give up: Why persistence pays off

Tuesday, January 28, 2014   By Mike Reddy


Start-ups and small businesses are more akin to marathons than sprints:  the road is long, the obstacles are unpredictable and the results are often varied.

Just like distance runners, training in persistence is the key to success.

Persistence is multi-faceted. Persistence is learning, trying, failing and repeating.  Eventually this will lead to looking back on a road of obstacles overturned, with success just around the corner.

Successful entrepreneurs will be the first to tell you their pig-headedness is what got them to where they are.  Masked as stubbornness, this is persistence at its finest.

The difference in setting a goal and achieving one is follow through. Ensure that you are setting yourself up for success by aiming for achievable goals with perceptible results. 

How so, you ask? 

When setting goals, be specific, particularly when it comes to the time frame.  Ask yourself, is the goal achievable realistically? 

Break goals down into smaller pieces and mark the success of each part. The excitement of achieving will forge encouragement to push further.

When it comes to your health, a twenty-minute run is better than nothing, right? The same goes for business health.  Five minutes a day focusing on goal achievement is better than nothing, so block out time in your schedule. 

Thrive on peer praise? Get pumped up by finishing a task? Find what motivates you and your team and incorporate those practices into routines.  Whatever works!

Create habits that will encourage following through. Set reminders and always try to bring a little fun to the table- this will keep your team motivated. 

Motivation = persistence.

Paired with a lot of passion and elaborate yet flexible planning, persistence is the lifeblood of a vibrant and successful small business.

Mike Reddy is a Chartered Accountant, business coach and advisor helping businesses in Sydney, Melbourne, Brisbane and Gold Coast to easily increase their profits and cash flow. He is currently President of the North Sydney Chamber of Commerce, a Regional Councillor for Sydney North East and a member of the Institute of Chartered Accountants Sydney leadership team. As well as advising businesses, Mike presents business development seminars and webinars and is regularly contacted by the media to comment on small business matters. You can connect with him on Facebook, Twitter and Google+.