Innovation. Ambition. Passion. Vision. Perseverance.

All words that accurately describe the entrepreneurial spirit and the business owners we encounter on a daily basis.

Personally, I find the perseverance of business owners to be the most impressive trait, as well as the most valuable asset to their success.

What it takes to become great in this world is a willingness to continue when the going gets tough. And to keep going, when it gets tougher.

We speak with so many owners that have found themselves in situations where the way forward was incredibly uncertain.

Maybe you relate?

• Maybe your biggest client just canceled their contract.

• Maybe that deal didn’t make it to the finish line.

• Maybe you’re not sure how you’ll make the coming payroll.

  So many moments in the life of a successful business can be boiled down to the times an owner was faced with total uncertainty and chose to continue.

One of my favorite books is The Obstacle is the Way by Ryan Holiday. In it, he expands upon the quote from stoic philosopher, and former Roman emperor, Marcus Aurelius where he says, “The impediment to action advances action. What stands in the way becomes the way.”

Throughout his book, Holiday shares stories of many great men and women that persevered through incredible struggles and challenges.

One such story is of James Stockdale, which you may be familiar with if you’ve read Good to Great by Jim Collins. Stockdale was an Admiral in the US military during the war in Vietnam and ended up as a prisoner of war for over 8 years.

Through it all, he maintained his belief that someday he would make it out of that situation and led the resistance of his fellow prisoners in abysmal conditions.

So how does that story and principle apply to you and your business?

Collins writes about the Stockdale Paradox which states that a firm and unwavering belief that you can and will succeed through any challenges you may face, while having the discipline to confront the brutal facts, as they exist in front of you.

It’s not simply optimism. It’s not just hope.

It’s a 100% commitment to prevailing in the face of your biggest challenges.

Stockdale said, “You must never confuse faith that you will prevail in the end—which you can never afford to lose—with the discipline to confront the most brutal facts of your current reality, whatever they might be.”

How to persevere through hard times in your business.

As you look ahead, into the future of your business, maybe things seem unclear at the moment. Maybe, even worse, they look dire.

First, you must hold tight to the belief that got you started in the first place. The belief that one day, regardless of what stood in your way, you would make your company successful.

Next, you must be willing to step into uncomfortable conversations about where you stand today. Be okay with hearing the hard truths about your business.

Did you just lose a large client?
Ask why, get their feedback, and learn from it.

Maybe your margins have been declining. Figure out what’s causing that and make the necessary changes to prevent it in the future.

Ask yourself if you truly know the brutal facts about your business. If the answer is, “No” or that, “you’re not sure”, then be willing to dig in and find out.

At Doescher Group, one of our Core Values is “Always the Truth”.

We believe that the best way to help our clients is to learn the good, bad, and ugly of their business and provide accurate assessments and actionable feedback.

If you’re looking for what’s next in your business, or simply want an assessment of where you stand today, feel free to reach out. We’d love to help.

To close, I’ll leave you with a quote from a Robert Frost poem, which reminds me so much of the owners we meet.

“He says the best way out is always through

And I can agree to that, or in so far

As I can see no way out but through.”

Here’s to making a way through. Regardless of what stands in the way.