As entrepreneurs, our greatest strength can also be our greatest enemy.
A friend and fellow entrepreneur (let’s call him Daniel) recently came to me for advice on setting focused, clear goals for his business.
He had so many ideas, and there was so much he wanted to do, but he couldn’t seem to get anything to the finish line. He felt like he was all over the place.
Basically, it was the typical story of every entrepreneur. I told him that he’s not alone—that he suffers from SOS.
A few years ago, investors and analysts had put brick-and-mortar companies like RadioShack and Best Buy on a death watch. There seemed to be no way they could compete against the giant Amazon—with its famously low prices, virtually limitless selection, and two-day delivery options—and come out alive.
Living up to expectations, RadioShack filed bankruptcy in 2015—and again in 2017, after a futile attempt at reviving itself.
Meanwhile, Best Buy managed to pull off one of the strongest corporate comebacks in recent history.
The question on everyone’s mind is, Why?
The calendar has recently turned, and, with the change in year comes one constant: people setting grand resolutions and failing spectacularly.
No, this isn’t some deep-seated lack of faith in humanity – it’s fact. Research shows only eight percent of people actually achieve their New Year’s resolutions. This failure has, unfortunately, become so comically commonplace that it’s expected.
The question is, why? Read more