Without this one thing your business will fail. 50% of businesses fail within five years. So how do you avoid a business failure? I have one word for you ...
Motivation is the reason you started your business
Every business owner has a reason they made the huge and scary commitment to start their own business. Maybe you turned a hobby into a business or you wanted to be your own boss. Whatever the reason you probably had an aha moment and said, "Now's the time!" For me my motivation was years in the making.
I always knew I wanted to start a business. My motivation was my desire to be a work at home mom. Family has always been the most important thing in my life and even back in my college days the dream of raising my future kids while working a flexible schedule was something I desired.
But when I started my business back in 2011 I was young and my motivation, although genuine, wasn't enough to get me through the hardships of a startup. My business wasn't set up for success, from not charging enough to my lack of workflows and processes. I accepted any jobs, even the ones I didn't want to take on. My clients were happy, which should've made me happy but I felt tired. Even with all of that my biggest failure was my motivation. My love for my future children was strong but because it wasn't my reality at that time I let negativity destroy my dream. I fell into the mindset that I just couldn't make enough money and my overworked unhappy self pretty much gave up.
Why the right motivation matters in business
At my lowest point as a business owner I decided to change my motivation. I couldn't let all those years of freelancing go to waste so instead my new motivation was paying off my college debt. It was attainable and it was a strong enough push to get me to keep working. I had been trying to pay off my loans in years prior but I was mainly trying to save money to go full time freelance. When I changed my motivation working late nights wasn't as bad because I could see the light at the end of my debt tunnel. And by the end of that year I did it! I paid off all my college loans and sadly, yet accomplished, I closed up shop. My company became a business failure.
Motivation has it's stages
Around that time I became pregnant with my son. It was heartbreaking that I wasn't going to be the work at home mom like I had always wanted but at that time I needed to refocus and accept my new path ... I was going to be a full time 8-5 working mom. I still had my full time digital marketing job so I put more of my energy into that. I became happy working one job, I spent more time with my husband and overall I felt good. I wanted to be a good mom and a good mom was my new happy, non-stressed self.
A refresh and a heightened since of motivation
Then my son was born. Not to get all emotional but it really was the best day of my life. It's hard to explain the love you have for your children until you actually have them. It's a happiness like no other. I spent the next three months on maternity leave getting to know my boy without thinking about work. Then it happened, I had to go back to work.
I'm not going to lie, I cried. The thought of not being with my son when I wanted emotionally crushed me. Thoughts of a flexible schedule that allowed me to work and still be with him came flooding back. But this time was different. This time I had a real purpose. I knew without a doubt that I would run a successful business, be a great mom, and I would not accept a business failure! I was good at what I did. I just need the right motivation.
Motivation drives success
After four months I quit my full time job and focused on my son and my business. It was the best decision I ever made. I completely rebranded my business and started fresh. I redefined my target market, business strategies, goals, and working schedule. I created new processes and began writing a blog. My motivation drove me to do it right from the beginning, to never stop learning, and no matter what to push forward. And the best part is ... every day I feel successful. Business is good, I've never been happier and my life is exactly how I wanted it to be. Don't get me wrong, running a business is still hard work and I still work late nights but my motivation is clear and I only focus on my successes. I love what I do and I love my family.
These days my business motivation is waking up to my son saying mama on the video monitor. It sure beats my old alarm clock.
"I only see my goals, I don't believe in failure." - Lukas Graham
I hope that sharing my personal business journey will help you define your motivation. Whatever your motivation make sure it can withstand the hardships of owning your own business. You CAN do this. Running a business takes strategy, expertise, and patience. But the key to running a successful business is motivation. Don't become a business failure statistic.
I'd love to hear what motivates you! Tell me in the comments section below.