Problem solving Archives - Dr. Ivan Misner®
three P's

The Three P’s Of a Great Entrepreneur

There are a variety of factors and circumstances that go into the making of a great entrepreneur. However, there are a few personality traits that will help you make the most of any and every situation you find yourself in, and that could prove the difference between success and failure. It is important to reiterate that there is no sure guarantee to success. However, with the three P’s in your arsenal, failing will not remain an option.

See if you have these three P’s, which have been found to be the hallmark of all great entrepreneurs.

Passion

Passion is the prerequisite for success in almost any aspect of life. Especially when being an entrepreneur comes with the promise of long hours and problems to deal with every day. Only passion can motivate you to keep at your dream in spite of all the hurdles in your way. There is no guarantee that you will be realizing your dream at the end of the journey. Then again, as an entrepreneur, the journey can be never-ending, and your passion is what will see you through it all.

Persistence

What is the reason 90% of startups fail to continue beyond their initial years? Lack of persistence could be the answer. It takes persistence to survive the critical early years and overcome the challenges that every entrepreneurial initiative is bound to go through. Many believe that securing your funding and starting out is It. However, reality proves that this is only the first step. Unless you keep at it through all the hurdles that you face, you will only be a statistic in the course of history.

Problem Solver

The third most important thing that can make a difference in your success is your attitude towards problems. A lot has been said about this, but it might not be enough. As an entrepreneur, one thing you will find yourself doing a lot will be solving problems. The experience of most great entrepreneurs has shown that unconventional thinking and the ability to take calculated risks is what matters at critical junctures.

Luckily passion also means that work will not feel like work, just the way of life; and happiness at doing what you love will enrich the experience.  Your passion will guide your ability to persist. So the greater your passion for your chosen idea, the higher will be your ability to persist at it till you succeed. Only if you are good at problem-solving and able to find the right people along the way to help you will you ever be successful.

solutions

Focus on solutions, not problems.

What was the last problem you faced?

  • An employee issue
  • A difficult client
  • Financial hurdles
  • Competition from another business
  • Time management concerns
All too often, when facing a problem, the first thing we tend to do is focus on the negative situation. We continue to repeat our patterns, doing the same things that do not work, until we dwell in a feeling of negativity. Many people let their minds wander toward the negative, which then prompts them to focus on more problems instead of searching for ways to resolve the situation and grow from it. You must begin to start focusing on ways to actually resolve the situation by focusing on solutions. Do not just react, take the time to fully analyze the problem then make a list of possible solutions.
  • Identify the problem(s)
  • Identify what you did before in a similar problem
    Brainstorm possible solutions.
  • Change what doesn’t work
  • Find and use resources
  • Decide which solution is best
  • Put that solution into play
  • Build on each successive step
  • Try to do more of what works
  • Use an alternative solution if not achieving the required results
Regardless of how bad your problem may be, the solution is there if you think long and hard enough. Not every solution will work for this problem. However, when we start to think of more ways to overcome our problems, we can grow from the situation at hand by being more prepared for the next problem we will face down the road. We can even avoid future problems because if we focus on problems, we will get more problems. If we focus on solutions, we will get more solutions. By being aware and reminding yourself of your list of solutions you just created, you can focus on solutions, not problems.
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