Thursday, June 14, 2012

Mothers and Business!

I came across this article the other day and thought it seemed relevant to not on C and D...but probably to lots of other entrepreneurs out there! Enjoy!

1. “You can do anything.” Not many mothers probably told their children a generation ago that they should grow up to be an entrepreneur. The typical “reach” goal was a doctor or maybe even president. These days, more mothers would probably tell their children to grow up to be Steve Jobs than to be President Obama. However, your mother’s insistence that you could accomplish anything and were “destined for success” was the essential ingredient in building your confidence to start a company. There simply is no other way to explain setting a goal that is so difficult to achieve as starting a company.

I Couldn't agree more! We definitely grew up thinking that the sky was the limit as far as our future went! Thanks Mom...and Dad!

2. “Failure not an option.” Although there is failure in every entrepreneur’s future (many times more than once), the non-quitting spirit your mother repeatedly taught formed the basis for not giving up when your business hits a pothole. You can thank your mother for helping you form the key entrepreneur gene: resiliency.

I think this goes back to all those softball practice sessions in the back yard with the padre! He seemed to think that failure was not an option...however...when game time came around; we proved over and over that it actually was a realistic option!
We looked something like this....as far away from the ball as possible!


3. “Patience is a virtue.” The lesson of patience is an essential characteristic that small business owners need to learn. Most "overnight successes" took 7 to 10 years. The rapid rise to financial fortune is only a fairy tale that is primarily realized only after the exit event. By their very nature, entrepreneurs are not a patient group, but they need to take a longer-term view in order to be successful. Most entrepreneurs are not successful on their first try (or second).

Dana, this is for you!


4. “Don’t be late.” Punctuality and getting tasks done on time are critical skills for small business owners, because what you do, your employees will also do. In other words, if you are never on time or don’t complete tasks in a timely manner, your staff won’t either.

Courtney, this is for you! (Me)

5. “Stop complaining.” Your mother taught you to stop “bellyaching.” In business, while you can’t control the outcome, you can control your response. Learn what you can from the current result, but then move on by taking an action that gives another chance of success.

We all need this one!
Lord knows I would be broke!



Although my mother taught me well, she did give me two pieces of advice that ended up not being true in the world of business:
1. "Good things come to those who wait." Most small business owners get tired of just waiting. They go out there and make things happen. To be successful, value proactivity over reactivity.

So true.....


2. "Do what you love and the money will follow." Mothers got this one mixed up as well. It should be, "do what you love and it does not matter if the money follows." To be successful in building a company, an entrepreneur needs to be driven by passion, not financial reward. While making money is a way we keep score (and is important), most small business owners find a way to be “happily” successful.

We have definitely encountered this! It takes a lot of hard work and drive to make a company successful...and sometimes that success is not measured in dollar signs!

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