Willpower Is The Force Of An Entrepreneur
A wilful person will not accept commands, they have their own viewpoint and they do what strongly believe in, without caring about going against the unwritten rules. When this is incorporated in day-to-day situations in business, a wilful person will not let criticism, a small loss, an irate customer or a complaining employee affect his performance.
Willpower is the motivation to exercise will. Will is the ability to make conscious choice. Everyone has his own will and is free to make choices. Individuals with strong willpower are better equipped to face opposition and assert decisions, even if the indicators are contradictory. An individual with weaker willpower gives up easily. Will and power are closely related, you can exerciser power by using will. If you desperately want to get something in life, weather you get it directly or you let someone else get it for you, it needs willpower. A strong determination is required to succeed in life. This can be obtained only when you know what you really want, even in difficult situations.
Your willpower is the force that keeps you constantly thinking out of the box, prepares you to take calculated risk and eventually attain your goals by making decisions that are beneficial for your business. Willpower is also known as instinctual override, because it sometimes inhibits our natural inclination, interrupts a natural reaction to stop, go back or give up, to force us to attain what we desire.
Willpower is like a muscle that can be strengthened or fatigued with use. For a small business entrepreneur, willpower is the key to nurture his business. According to conventional wisdom, businesses reach to break-even in the first two years of conception. Then profits start flowing in. When you do not see your money grow at the pace that you had planned, in the initial years, it will take a lot of willpower to continue running the business until it starts bringing substantial returns.
Our beliefs and attitude also play an important role in willpower depletion. They have the capability to exert more pressure on our mind than external forces, and hence require more willpower to suppress. For example, if you are fighting the fear of taking a risk in your business and you gather all the willpower that you can manage to get over this fear, you might be able to prepare yourself to go ahead. However, the day you are going to sign the deal, if an astrologer tells you this deal is not going to be beneficial for you, no matter how much your willpower pushes you, you will probably not have enough courage to proceed. In the end, your belief will overpower the willpower and lead to its depletion.
Willpower is a finite source, which means it can also be depleted. Anything that conflicts with social acceptance or with your values and goals and you still desire it, your willpower overrides that desire to keep you on the right track, but in doing so, you deplete a part of your willpower. Willpower depletion is not just physical fatigue. Fuel of your willpower will burn more when the desire is strong and you have to struggle hard to resist it. Researchers have found that humans spend four hours resisting desire every day. This is directly related to self-control; more the emotional turmoil in letting go of the object of desire, more is the willpower required to make you do it. Our day-to-day actions also absorbs some of our willpower. When we choose one out of various options, we have to reject the rest of them, which a human mind does not like to do. We do not like to narrow down our options. In such situations, the brain chemistry changes and willpower step in to make us choose one.
A small business owner uses optimism and doses of reality every day and learns to manage risk. Risk can be of many types. It may be an internal risk like injury, death, theft, fraud, low employee morale, etc., equipment and technology risk like outdated systems, worn-out parts, vehicle break down, etc., or an external risk like weather and natural disasters, inflation, competition, market fluctuation etc. Internal risks are generally easier to manage, once identified, however it is not easy to control external risks. Not all risks are negative, like expansion of a business is a risk as well as the opportunity for growth. Effective risk management policies focus on the programs that increase the chances of success by limiting chance of failure for a business. Businesses that are well-equipped to identify risk are better placed to deal with its effects.
