A critical component of business success is a high degree of determination and persistence on the part of the business owner. Even venture capitalists—people who look at hundreds of business plans—will say that the entrepreneur’s character and ability are the main criteria for making a funding decision. Consequently, these investors seldom fund more than 1 percent of the plans they review because they don’t recognize the necessary talents, abilities and experience necessary for making the business successful.
Persistence and determination—along with patience—go hand-in-hand with business success. No matter how well you think you have a business plan laid out, inevitably, it will not work out exactly how you envision. You will be forced to change things and go in different directions along the way. You will meet with frustration and disappointment. But your ability to persist and to continue seeking faster, better, and more innovative ways of achieving your business goals will always be the key to your future.
Calvin Coolidge once said, “Nothing in this world can take the place of persistence. Talent will not: nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not: the world is full of educated derelicts. Persistence and determination alone are omnipotent.”
Remember these powerful words the next time you meet an obstacle in pursuit of your goals.
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