With many startups facing a 90 percent failure rate, the road to success can seem long, treacherous and pitted with obstacles.
For entrepreneurs just starting a new business venture, hurdles such as generating funding, building a high-quality team and launching a world-class product can feel near impossible. It is important to silence the naysayers and keep going.
As Winston Churchill once said, “Never, never, never give up.” Back in 2010, I co-founded Revel Systems.
Within only five years, our company has raised $115 million in funding, developed a partnership with the No. 1 accounting solution — Intuit QuickBooks — and we are now working closely with Apple to bring exclusive iOS features to our point of sale customers.
This success did not come easy and, at times, I found myself in situations that seemed impossible to overcome. But with focus, motivation and strategic thinking, I’ve been able to challenge potential barriers daily.
For entrepreneurs and business owners looking to conquer the impossible, here are three tips to consider:
1. Throw out the rulebook.
Better yet, rewrite it.
As an entrepreneur, you ARE the rulebook. When my co-founder and I started getting our company off the ground, we hired a group of designers for the initial product design.
They told us what we wanted for our product simply couldn’t be done. I never let their dismissal defer my vision. In order to think outside of the box and be innovative, you have to defy the perceived “impossible” notion and trust your gut with what you truly believe is possible.
2. Retrain your brain towards the positive.
As difficult as it might be, it’s important to remain positive despite all odds. Every night, I make a list of every negative thought, worry and roadblock from the day. I then cross a line through each negative comment and replace it with a positive, empowering statement.
This process not only calms the current situation I’m facing, but trumps the negative thinking with a more positive, encouraging thought.
3. Be selective about who you surround yourself with.
Whether you like it or not, those around you influence how you think and behave. I was watching a TED Talk recently about the hidden power of smiling and how such a simple thing can create a significant sense of positivity for people and their environment.
Surrounding yourself with negativity will only do damage; it’s imperative to focus your efforts on those individuals who are not only positive, but supportive during times of struggle.
With the right team and the right mindset, anything is possible. Follow your gut and always do what you feel is right.
Playing it safe wouldn’t have gotten me to where I am today and these simple practices I follow help me on a daily basis to stay focused and positive. Nothing is impossible unless you try, so embrace your opportunities and be courageous.
Lisa Falzone is the co-founder and CEO at Revel Systems.
