I got an email yesterday, asking me, “What is the one thing I must have to succeed in my business?”
In my book, I told you the story about how we got into deep, deep debt because we did not know any better. There was no single book or roadmap. There was no mentor who has been there and who could tell us what to do at each point of our contusion. We had to attend seminars left and right, read tons of books. I even went back to school to see what professors can help us with.
I applied all that I learned. Some of them worked but most of them did not. I did not realize that what I learned were all correct, but the only reason they did not work was because it was not the right time. At that moment, something else in another area of management should have been prioritized for the business to grow. But we did not know that.
So, we continued to make mistakes, and our debt grew bigger and bigger. Yet, what kept us going was a deep, deep commitment.
First, in Karma. We cannot cheat our creditors because this will get back to us. Maybe not to me or my husband, but to our children and the next generations.
Second belief is since our parents did not leave us any debt, therefore it would be unfair for us to leave our debts to our children. And, because we loved our children very much, regardless of whether we got cheated by some customers, whether some creditors shocked us with a sudden shortening of payment terms, whether friends and family turn their back on us, and spread false rumors about us, whatever it is, we still worked hard towards looking for the best way to make our businesses work. This is because we are committed to pay off our debts.
I have met many successful biz owners and I’ve heard many stories. There were many reasons why they were successful. But the common, basic trait was that they were committed to succeed, no matter what. They were committed to work on their business 24/7, they were committed to read even if they hated reading, they were committed to seek answers by asking questions even if they will look stupid, they were committed to overcome obstacles. Period.
In the next post, we will answer the question from Gary and from Susan who asked: What will you do when you have many competitors, in the same business as you are, serving the same market, and offering lower prices.
Do you have that question too? Send it in the comments.
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