Is it time to quit?

This is a genuine question.

Running a business isn’t for everyone, and that’s ok. Maybe you’d be better with a job?

I know that might sound harsh but better you make the decision quickly rather than have a long drawn out slow, exhausting death of your business.

I spoke to a business owner recently who wasn’t committed to their business. I felt like they were simply waiting for it to grow on it's own. "The business needs to start to grow, I'm not investing anything else in it."

They told me they couldn’t afford to invest in their business for growth. We were only talking about ￡60 a month for Circle Networks membership. This wasn't a fob off, they’d told me how much they have enjoyed their trial, how the connections they had already made were useful and how being around like minded entrepreneurs was changing how they felt.

The response, I’m not investing anything else to find new clients, the business has to make it on its own. When I suggested a simple way to make a monthly saving that could free up ￡60 a month, they said they would take the saving but that was a personal saving and they wouldn’t invest in it their business.

Money wasn't the barrier to growth here, it was commitment.

This led me to wonder about the conversation afterwards about entrepreneurial commitment, and think that I should have asked “are you all in?”

I know I’m fully committed to my business. I’ll do what’s needed, even when I feel uncomfortable in order to grow my business. But I really hate dancing. I might not do that, but luckily it’s not on the agenda for business growth.

I do, however, push myself out of my comfort zone on a regular basis. I’m committed.

Commitment is a vital ingredient for any entrepreneur looking to turn their business from an idea into a success. Perhaps people don’t point this out enough to startups; It takes hard work, dedication, and a willingness to take risks in order to build a business from the ground up.

But what does it truly mean to be committed to your business, and how can entrepreneurs ensure that they are fully invested in their venture?

First, I did a quick Google search to get some statistics on failure The Telegraph* reported that 20% of startups fail in their first year of business, and 60% won’t make it past 3 years of trading. Will you be one of the 40% who succeed?

So, what does it mean to be truly committed to your business?

• It means having a strong sense of purpose (your reason why)
• A clear vision for the future
• It means being willing to put in the time and effort required to build a successful company, even when the going gets tough
• It means being willing to take risks and make sacrifices, and to never give up on your dreams

Read those again.

Many entrepreneurs start out with a job mindset. It’s all we really know until we make the bold (or crazy leap) into starting a business.?

Have you developed an Entrepreneurs Mindset yet??

Building a business takes time, effort, and dedication. It requires a willingness to work hard, to make sacrifices, and to never give up. I’ve met my fair share of people who don’t realise it but, they just want to create a job, they want a steady stream of income, but don’t have a plan or the commitment to go and find the clients they need in order to get that income.

Finding clients involves selling.?

Yes I said it. You have to sell in order to build your business. I come across a lot of business owners, who need more clients, but they tell me they hate selling. Unknowingly they reinforce the mindset every time they say it out loud. I prefer to think that I help people. I love selling, I have a fantastic solution to the problem that my potential clients face. So I’m simply helping more people to fix a challenge.?

A lot of the people I meet are interested in growing their business, in finding more clients. So selling needs to be a key part of their focus. Having a means to find new clients is a key part of the sales process. Leads and referrals need to be top of mind for young or growing businesses.?

Are you committed to increasing leads and referrals?

One way to ensure that you are fully committed to the success of your business is to set clear goals and create a plan to achieve them. This will help you stay focused and motivated, and will give you a clear sense of purpose.

In addition to having a plan, I fundamentally believe that it is important to surround yourself with people who are also committed to your business and who will support you along the way.?

This might include family members, friends, and past colleagues, but in reality if they have never started a business, they might not be the right people. What if you had an inner circle of business owners, who had walked in your shoes, know the challenges of starting up, of chasing clients for payment, getting past gatekeepers to the decision makers, understand what nightmare clients can be like, but also know the highs of running a business and the rewards that are there for the taking? Build your inner circle now, build it before you need it. Build it today if you need it now.

Entrepreneurs who are truly committed to their business also understand the importance of self-discipline and focus. It took me a few years to appreciate the value of this. Starting a business can be incredibly time-consuming, and it can be easy to get sidetracked by other responsibilities or distractions.

It's important that you

• set boundaries
• establish a daily routine
• and stick to a schedule

in order to stay on track and achieve your goals. I know it sounds so boring. It’s a foundational element of success. This is what successful entrepreneurs do.

Another important aspect of commitment is the ability to adapt and be flexible. Entrepreneurship is not a one-size-fits-all endeavour, and what works for one business may not work for another. Entrepreneurs who are truly committed to their business understand that they may need to change their strategy or maybe even change course as they learn more about their customers, the market, and the industry. This ability to adapt and be flexible is essential for long-term success.

Commitment also means being able to handle stress and pressure. Starting a business can be incredibly stressful, and entrepreneurs need to be able to handle the pressure in order to be successful. This means learning how to manage stress, set boundaries, and take care of yourself. Entrepreneurs who are able to handle stress and pressure are more likely to be successful in the long run.

One of the biggest challenges for entrepreneurs is being able to manage risk. Starting a business is inherently risky, and entrepreneurs need to be able to take on risk in order to be successful.

This means being willing to invest

• money
• time
• and resources into your business

even if there is no guarantee of success. Entrepreneurs who are willing to take on risk are more likely to be successful in the long run.

This week's newsletter has been a bit of a rant. I love to help people succeed but they need to demonstrate commitment. My commitment varies, this is when I will give myself a shake, I might get feedback from a coach, from my partner it comes from multiple sources.

Being wishy washy won’t grow your business.

It takes hard work, dedication, and a willingness to take risks in order to build a company from the ground up.?

Remember, starting a business is a challenging and risky endeavour and true commitment is essential for success. Entrepreneurship is not for the faint of heart, but with true commitment, anything is possible.

If you believe in yourself, I will too.