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If you've got a business idea that you think could make you rich, read on to discover why "thinking positive" could be the worst thing you can do... and why a bit of negative thinking could save you a lot of time, effort and money
Starting a new business can be one of the most exhilarating times of your life. Whether you've got a great invention, are about to launch the next "Dot-Com Success" or are just opening a small store.
"There is nothing 'positive' about losing your house because you turned a blind eye to the warning signals before you spent your first dollar."
The possibilities become intoxicating, as you see the path ahead of you. Working when you want, for who you want, and potentially making enough money to retire early. The rewards can be huge.
But the risks are also high. Sadly, as you probably know, most businesses fail within a few years. Even if they stay alive - the owners often find themselves trapped in a business that is nothing like the one they thought they set out to build. They spend every waking hour trying to stay afloat.
The worst part is, most of these troubles could have been predicted while the whole business was just an idea kicking around in the would-be owner's mind. It's often in those initial steps that the course to failure is set weeks, months or years down the line.
The reason they didn't see this coming is simple...
New Business Owners make a classic mistake - focusing on the reasons a business venture should succeed, rather than why it might fail
Society constantly teaches you to "think positive." You're told that even considering the possibility of failure might put you off, so just keep thinking of all those happy customers to come. But, ironically, if you want to succeed - you must pay attention to why you might fail.
The logic behind this is simple: one single thing is never enough to make your business succeed. But one single thing is often enough to make your business fail.
"Business is inherently risky. The rewards are high because you can virtually never predict if an idea will succeed. However, there are ways to predict if a business will fail."
For example, having customers will not be enough to make your business succeed. If your price is so low that you are not covering your costs, all the customers in the World are not going to help you make a profit. However, having no customers will automatically lead to failure.
Having lots of money will not make your business succeed on its own. If you
