FIERCE (Realistic). Canada 150 Recommendation #124

Tuesday’s= Starting a Business

You need to be realistic. All your passion and enthusiasm must be somewhat tempered. Being able to see if your business idea is working without being seduced by how badly you want the business to succeed is a good trait.

A new business owner has to be able to see the parts of the business that are under-performing and make the necessary changes. Sometimes entrepreneurs continue to work on a business that has no chance of success. You want to be persistent, but not in a hopeless situation. You don’t want to throw good money after bad. You want to try running the business, give it a good shot, but be flexible if it’s not working. Some advisers suggest that you try a bunch of different products and services and only stick with the ones that are profitable.

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