A quick comparison between generation X and generations Y & Z, shows one major distinction – perseverance. The X generation lived in an era when they had to do everything manually whilst the Y and Z generations have almost everything automated. We want to see results quickly and nothing is worth waiting for anymore.
We are an impatient generation and it important to understand the power of perseverance. Nobody builds a successful venture overnight or by trying out different things without giving enough time to see the yield of the venture that has been invested in.
You must stick to your dreams and projects through thick and thin. I recently saw a post online that read, “…people can’t stay with a business idea for three years, yet they can go and work for someone for forty years.” How did we loose the power to persevere? Here are five key factors needed to persevere in business:
Purpose – Many startups dive into business for the financial gains alone, without a clear purpose of what inspired them to start that venture in the first place. If such venture doesn’t immediately yield profit, the entrepreneur is quick to conclude that the business has failed. Of all intents for starting a business, the financial gain should be amongst the least motivating factor. If you know your purpose, you can’t easily give up on your dreams and you will be encouraged to persevere in difficult times.
Conviction – Conviction is the internal belief for sticking to an idea even when the going gets tough. While this is very close to purpose, it must also be taken seriously. Some people have a purpose for what they are doing, but they are not convicted that they should be doing it. A person that has both purpose and conviction is difficult to discourage when the chips are down.
Vision – The vision is the long term roadmap for what you want your business to become. It guides the business in making short and medium term decisions that will ultimately result in achieving the vision of the company. An entrepreneur with a vision in mind is encouraged to persevere during tough times.
Drive – Any entrepreneur with a purpose, a conviction and a vision must also be driven to push the business. Self motivation is necessary for any business to grow and it is a trait everyone involved in the venture, from top to bottom must possess, as it will be necessary when the business is passing through tough times.
Continuity – When you have an objective to continue business operations in the long term, you shouldn’t be discouraged by the challenges you meet along the way. More importantly, these challenges are opportunities to learn, grow and to keep forging ahead.