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Every day we are bombarded with endless success stories about the latest unicorn startup. From the outside looking in, it’s easy to assume they got lucky! Take companies like Facebook, Airbnb, Uber or Netflix, for example. Their stories sound almost too good to be true, kind of like a Hollywood blockbuster storyline.
Someone in the right place at the right time, hitting massive milestones over a very short timeframe. This post is the remedy for entrepreneurs who put impossible pressure on themselves to achieve such dizzy heights.
Every entrepreneur dreams that this will be their success story, but just how realistic is that expectation? The truth is when you look closer at some of these outrageously successful businesses, you’ll start to see all the hard work, failures, sleepless nights, and setbacks they have had to overcome to get where they are now. Overnight success sounds very glamorous, but the reality is often quite the opposite.
Launching a new startup is sort of like having a child. They both require lots of planning, then they need constant care and attention, they’re expensive and both need vision in order to be successful. In both cases, many years go by before you actually start seeing any ‘results’. And what might feel like overnight, suddenly your child actually turned out to be pretty cool, or your startup has suddenly become a 7-9 figure dollar.
The reality behind eventually becoming an overnight success is all about your mindset. You need to prepare yourself for the inevitable rollercoaster. There will be good days, bad days, happy days and sad days. Massive highs and huge lows, mini breakthroughs often coupled with seemingly unfixable disasters. It won’t come served on a platter of gold, most of the time it will trickle down in tiny drops. Only years of patience, wisdom, experience and dedication will convert those drops into victory.
So, what can you do to achieve overnight success? We look at three key attributes essential to any entrepreneur that wants to build a successful business.
1. Tenacity
Hunger to succeed is fundamental to sustaining your passion and focus. You need an abundance of tenacity to to fuel your mission. You will be confronted with challenges and obstacles, but the desire to succeed must be greater than your fear of failure.
You might have to work from sunrise to sunset, 7 days a week, but you must truly believe that what you’re trying to achieve is greater than any setback you might face. Learn from positive and negative experiences, and use them to grow your business.
“Timing, perseverance, and ten years of trying will eventually make you look like an overnight success” Biz Stone.
2. Vision
Without vision, you have already lost the battle. To know where to start, you first need to know where you want to go. Clear vision requires creating a mind map of where you want to see your business, both short and long term.
By having a realistic set of goals, objectives and expectations, it’ll make it easier to embrace any potholes you encounter along the journey. Ask yourself questions like: Do I want a multi-billion dollar company, or would I be happier just being able to live comfortably?
“There are no quick wins in business – it takes years to become an overnight success” Richard Branson
3. Strategy
Strategy is the “how” of achieving overnight success. It’s imperative that you outline a plan of business goals and objectives. Set out a rough timeline for each stage of your plan, make sure to factor in financial projections, and how you intend on investing money to achieve your goals.
You need to consider marketing, branding, profit margins, customer churn and how you scale your business. Outline a backup plan if plan A doesn’t work, and never be afraid to pivot if that’s what the market requires.
“Years of hard work, discipline, and determination will make you an overnight success.” David Castillo
It’s very easy to see success in those around us, it’s a classic case of the grass being greener on the other side. Next time you get frustrated over not being as good as some entrepreneur you just met at a conference, remind yourself that you don’t have the full picture.
Do yourself a favour and never compare your business with anyone else’s.
Embrace the obstacles, challenges and mistakes, hustle, measure your efforts and double down on what works – and before long you could be the next overnight success story.
