Approach to Business

Most people are looking for a business opportunity so that they can make money. However if the priority is to be rich you are probably focused on the wrong thing and are going to be too impatient to do what is required.

The way you think will determine your results. Many people miss opportunities because their thinking is wrong. Mark Twain said: “I was seldom able to see an opportunity until it had ceased to be one.”

Thomas Edison said:
“We often miss opportunity because it's dressed in overalls and looks like work” and “Unfortunately, there seems to be far more opportunity out there than ability.... We should remember that good fortune often happens when opportunity meets with preparation.”

The hard part of business – but also the satisfying part – is dreaming big, and then doing what it takes to earn the money you want! Entrepreneurs tend to be immensely passionate about their work and don’t limit themselves by what others might consider to be “practical” or “realistic”. They have some appetite for risk. They are willing to fail and try again.

“Remember the two benefits of failure. First, if you do fail, you learn what doesn't work; and second, the failure gives you the opportunity to try a new approach.” Roger Von Oech.

Running your own business requires some different characteristics from an “employee” role:

Self discipline
is one of the first things that come to mind. No-one is going to chase after you, check your work and see how much time and effort you are applying. Your willingness to work consistently and in a disciplined way will be a big factor in your success.

What is your approach to problems and what do you do about them? A problem may just be an inconvenience to complain about, but solving a problem may constitute a business opportunity in itself. An entrepreneur tends to ask questions about problems: Must this be like this? Is there a better way to do this? Are there alternatives? Can this be solved? Is there an opportunity in this problem? Am I the right person to undertake this? Can I solve this problem faster, more cheaply or more effectively than others in the market?

Your mindset about “problems”, “obstacles” and “surprises” will define your actions. You can teach yourself to have the mindset that there is never a problem without a potentially profitable or pleasant solution somewhere. The understanding that not all “surprises” or “obstacles” are bad and that all of them have the potential to create something new is key to maximising opportunities.

A successful entrepreneur not only sees an opportunity – he chooses which one to use and then takes action. He is also willing to make changes along the way. Although you may have done a lot of research and planning about your approach, most things don’t turn out the way we expect. This can either completely throw you off course or you can focus on your goal or objective and accept that you will have to go about achieving it in a different way. Someone said that it is best to “set the goal in concrete but the plan in sand”.