Patience and persistence as the first capital you should raise for your enterprise

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The first thing that comes to minds for most people who have ever dreamt of building their own business is funding. How do I raise the capital that I need to start building my business? The questions that are not commonly asked are;

  1. “How long am I prepared to nature my dream? Or
  2. Will I be strong or will I be able to motivate myself back to business should I fail?

It’s not that hard to think of how much you can make should you start your business. Especially, when you have just found the idea and you are so excited about it. With assumptions, you can easily tell how rich you will be after selling your first 50 products.

As for how much you can lose should it not work, that is always reserved for when it happens. It’s only a natural instinct to be positive, to dream big as it is a big source of motivation.

What you did not know or what you are ignoring is the other side of the equation, the part that you think could demoralize you from pursuing your dream.

This is the exact reason why many investors have turned down most enterprises especially startups. This is because; they are looking at your business idea from the point of risk and your ability to mitigate that risk. If you are able to express yourself properly in terms of how you will solve the problems then investors will be willing to risk with you.

Patience and persistence as the first capital you should raise for your enterprise

This is the point where the main topic of discussion come in. patience and persistence as your first capital. The point is, learning to be patient with your idea and allowing yourself to develop your idea will give you the best management tool that most startups lack for not studying their ideas.

 

This Article is sponsored by: Abel Communications

 

 

Patience

This allows you to acquire the ability to fully understand the business you are about to build. Some people nature ideas for years and some of us who sometimes think we know, start asking questions about why this person is stalling with these great ideas.

But all of a sudden, when they finally start, it is hard for them to fail. Their businesses grow like magic and everything grows along perfectly.

This is possible because they have learned to be patient and by being patient, they are able to digest their business ideas to the fullest. Learning about the possible failures and finding ways to solve them, finding the big advantages of their ideas so they can focus more on those and combine all these to form a practical view of the illusions in their minds.

Every idea if not started is an illusion. You only think it’s possible to do, but there are no guarantees that it will actually work the way you think it would. Sometimes you can perceive a picture in your mind but when asked to describe it for the artist to draw; you see a different picture after the artist has finished the drawing. Being patient will help you paint a better picture of your business, find ways to express it to your partners and employees and also find which ways are the most beneficial.

 

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Persistence

Knowing that what you want is possible to create and that the reason why you are not getting it is that there is something you are not doing right and willing to keep trying until you get what you want is what I call persistence.

Persistence is the difference between success and failure. As Patience may have helped you to learn more about your business idea and found out that it’s worth the commitment, the only thing that will keep you going is persistence. Know this, persistence is easier pronounced than practiced but it does help if you know that it is what will keep you going.

Building that character in you that will keep telling you to try and try again even when everybody seems to have been through it and found out it was never possible to do. That is true persistence and it brings about results that marvel people.

After acquiring these capitals, you would have created a path to building greater things with your business idea. Your way of seeing your idea will be quite different because you would have acquired the ability to let you see your business in its true form. This will guide your actions, your expression and your strategy towards achieving your dream.

This is why I think patience and persistence is the first capital you should acquire for your business. Financial capital and all the other capitals will only be able to function properly if only you can put them to effective use. Knowing how to use capital effectively takes patience and persistence.

When we finally find the capital to start our businesses, as a way of motivating ourselves we think of all the possible successes that could come our way should we succeed. Less attention is most of the time given to the other factor “should we fail” which makes our failure hurt so badly that even the good we would have enjoyed should we have succeeded.

In starting everything, how mentally prepared you are will determine how good or poorly you will react to every situation that may arise. When I started learning forex trade, I read many article and training material that talked about money management. At first, I had no idea why almost everybody who wrote an article about starting forex trade, wrote so much about money management.

I only got to realize it after three years of learning and doing demo trading. Naturally, human beings are quick to accept gains even when they are small than to accept losses.  Most people who have managed their accounts and grown as forex traders have learned to overcome this natural instinct and are able to accept profits and losses equally. This is the core to money management or perhaps risk management.

Why am I talking about this in an article that is titled “patience and persistence as the first capital you should raise for your enterprise? It is because of the mental preparatory aspect of it. The benefits are many when one is able to balance his/her thoughts on a subject. These benefits include;

  1. is like given yourselves a metal pre-amp ahead of staring your business.
  2. This will allow you to think of how long your business will probably take to grow and make decisions accordingly so you don’t have to keep worrying about results when it’s pretty premature
  3. It will allow you to develop every step of your business with a clear view of every situation. Because you would be able to way your alternative cautiously

 

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