In this issue, we talk about "Think & Grow Rich Methods" and the 7 laws of persistence to help you succeed in your business. 
 
 Rick Erling
(972) 727-6880
 
 

Recently, I held a round-table master mind strategy coaching session with six CEO's. Their company's annual revenues ranged from $6 million to $39 million. Each of their businesses had been executing successfully for at least 5 years and each operated in a different, non-competitive product or professional service market space and geography. 

While I was giving suggestions to one of the CEO's on a best practice option to change his product offering names, price and marketing approach, one of the other CEO's mentioned that his model of success relevant to this conversation has been using the concept of persistent change as an achievement tool to help drive department and revenue capture success. All of the CEO's present agreed that persistence was required in today's economy to marshal through the changes they needed to make in their business models to adapt to the new economy's success requirements.

The concept of persistence is a proven business driver to make anyone or any company successful. In the grand book Think and Grow Rich, written by Napoleon Hill (one of the greatest entrepreneur success books of all time), he discusses at length the laws of persistence and why it is important to help you reach your stated objectives. Through this concept, he revels that persistence in business is a positioning of how you think and how you allow those thoughts to control your actions. 

Yea, yea, it kind of sounds like new wave theory, but in fact there is a lot of third-party research and anecdotal case studies that support it as a tool to drive business revenue success.

Examples of business company persistence are:  

• Salesforce.com lost tens of millions of dollars before it became profitable.
• In 1997, Apple had to borrow $150 million from Microsoft.
• It took Oracle 10 years to hit $50 million (adjusted for inflation) in annual revenue.  
   

Persistence is a scorecard tool for sales, marketing and strategy team members as well as CEO's who know what they want. Yes, there are roadblocks including economic woes, financial hazards, political calamities, social upheavals and time management issues who threaten your commitment to success on a daily basis.

Napoleon Hill's Laws of Persistence and how they can help your firm's success:  

1. The concept of aspiration or desire to be successful and how it will drive your persistence -- even when you are tempted to give up and just keep blaming the economy and waiting for it to change.
2. Organized written plans -- which act as road maps for CEO's and enables them to be emotionally persistent because they can see the path in front of them.
3. Gained knowledge -- learned best practices of what works and what doesn't to help you use a premeditated approach and, instead of guessing, will feed your persistence to move forward. 
4. Cooperation with your team -- create a synergistic integration of thought with you and your staff. With harmony comes success, with dissension comes failure.
5. Clarity of purpose -- know what kind of company you want to have, who your buyer is, why they will buy, why they will fail to buy, and how to create value that your target buyers believe.
6. Self-Dependence -- know what you need to do and just do it, even when it is difficult; push through any hesitation and make yourself become persistent.
7. Practice -- create a habit of doing what you should do -- even when you hate doing it; force your mind to be conditioned even when you emotionally and logically decided it is too hard or don't have the time.

Persistence Definition:

. . . Tenacity, continued effort or existence

By following these 7 guidelines, your organizations growth goals can be yours.

I welcome your comments.