Editor's note: This is the fourth column in a six-column series giving advice to beginning entrepreneurs. For more information about Weisburd, the co-founder of Indy Tickets Express LLC and the vice president of the Young Entrepreneur's Association, visit www.DavidWeisburd.com.
Most of the time, keeping your options open is a good thing, but not when it comes to starting your own business. Once you've chosen your pursuit, it's important to close off all other options. If you don't have anything else to fall back on, you will be forced to succeed. \nAt a business conference I attended, Aaron Brown, a news anchor for CNN, told the audience how he got his first job in newscasting: Brown called a director at a major television network every Thursday for an opportunity to interview for a position. Every time he called, the director told him he wasn't hiring. After four years of weekly phone calls, the director finally gave in and interviewed him. After 208 phone calls and 207 rejections, Brown never gave up, and his story ended in success.\nBrown emphasized he did not have a Plan B, but if he had one, he surely would have gone to it. Had he had a plan B, he would not be where he is today. The business people around me scoffed at this, but I think they really missed the point. The rules of success in business are no different from the rules of success in other professions: If your only option is success, you will be left with no other choice than to succeed.\nA book I recommend to everyone interested in finding out what makes individuals successful is called "Think and Grow Rich." The author tells a story about a leader who waged war on another country by ship. The leader's army was outnumbered 10 to one when they landed on the enemy's seashore. Before the battle began, the leader burned all his ships with the mind-set that his army was either going to win or die. There was no other option. Needless to say, this army won. Whether this is a legend or a true story is a trivial point. The real point is that in every profession, those who don't view failure as an option do not fail. \nSure, it can take years to succeed, but it is usually sooner rather than later. Thomas Edison, for example, made more than 10,000 attempts at trying to invent the lightbulb. After these attempts, a journalist interviewed him and asked why he kept trying after he had "failed" 10,000 times. "I have not failed," Edison said. "I just found 10,000 ways it will not work." \nI used this strategy in my own company, Indy Tickets Express LLC. When I restructured in May 2005 and partnered with my cousin, I made a promise to myself that I would carry this business to success. I made sure there would only be two outcomes to this venture: success or bankruptcy. In other words, I would keep on operating the business until I had to file bankruptcy, if necessary.\nIn the first few months we hit some really hard times. We were thousands of dollars in negative cash flow, and worse yet, I put a lot of money on my credit card. I don't usually recommend this, but for me there was no other option. I was not yet bankrupt and I had not yet gained success. By sticking with it, after several tough months we were able to achieve positive cash flow and have not looked back since.\nWhen an individual is placed in a difficult situation, such as what looks like impending failure, his or her mind will subconsciously look for ways out. Sometimes, you have to purposely put yourself into that situation in order to reach your goals. If you don't have anything else to lean back on you will be motivated to do whatever it takes to carry your mission through. \nEntrepreneurship is as much an emotional battle as it is strategic. It's important to prepare your mind for months of turmoil and to take pride in your journey. In the end, that is all that matters. \nComing next week: How to capitalize on trends.
