Bloomberg reckon it’s as high as 80% in the first 18 months. Others suggest it’s 60% in 3 years.

Neither number is difficult to comprehend.

Yes, plenty of first time entrepreneurs misunderstand cashflow, or how to generate sales and scale effectively.

But honestly, I think a huge number of them end up giving in after being worn down by the never ending stream of challenges we face everyday as business owners.

Business ownership is often positioned as freeing.

An escape from having a boss. No more measly salary, but unlimited potential earnings. The ability to work when and how you please.

Any entrepreneur with any amount of experience under their belt will tell you this isn’t the reality of business ownership.

But there’s a key trait I’ve spotted in those who not only succeed, but who thrive and enjoy running their business.

It’s reflected in the process demonstrated by NLP (Neuro Linguistic Programming)

The understanding of how people organise their thinking, feeling, language and behaviour to produce the results they do.

Or, put simply, the idea that thoughts drive emotions which drives action and action drives results.

The quality of our thinking and the questions we ask ourselves ultimately shape our lives.

If we choose positive thoughts, we get positive outcomes.

If we choose negative, we get negative outcomes, because of the internal maps we form with those thoughts and self-talk.

One of the things I focus on with my clients is reframing their thoughts.

We all face challenges, but changing your outlook towards them so that you feel empowered to take action will have a dramatic effect on your business’ trajectory.
Useful resources
Here are some videos on the subject you’ll find useful and entertaining.
Gaul Gopal Das, Then Why Worry? – 1:06
Bob Newhart, Stop It – 6:20