Name of professional giving the advice:
Define your business failure early.
In starting a business and especially a new business most of us go into the ordeal blindly. We don't clearly define what success is, nor do we define what failure is.
If you, starting your business, are really truly serious about being successful or super successful. One of the first things you will find yourself doing is reading about or studying others who have been successful.
Here let's look at just a couple people. Robert Kiyosaki, Dani Johnson, Tony Robbins, J. K. Rowling, just to name a few and there are many others who when they started their business had a clearly defined very clear picture of what failure looked like. To each one it was don't succeed, don't eat.
That clearly defined picture of failure is a great motivator. Take some time to sit back and actually think about it. Think about it this way, most of the poor people in my area and probably your area get regular handouts from the government, on a regularly scheduled basis probably one check every month. If that check was to stop would things have to change? Where I live, we have the term welfare bum. It refers to a person who has no job and collects welfare or is on a doll. Here these poor people get just enough money to survive and with that money they become satisfied. That's it, that's all, end of their story. This can be referred to as living within your means.
If the coin is flipped over to the side of success motivated, then having a clearly defined failure line is a line that better not ever be crossed. Not ever!
Some of us are fortunate enough to have a helping hand close enough to bail us out when we come across an unexpected expense. This could be detrimental to our purest motivational driver, that driver being us becoming a failure.
Think about that line for you, where is that it? Is it when your bank account is empty?
If you don't have a line create one! Open a separate bank account for your business if you have to, then put a fixed amount of money in it. That amount becomes your working capital and it needs to increase. When it hits zero you fail. Admit it. It hit zero, therefore, I've FAILED!
I'm sure you've heard it said that there is no 2nd place for 2nd place is only 1st place failure.
The path to success is riddled with obstacles, potholes, downfalls, pain, tears, anger, and more than one yelling of "I Quit! " the hardest part of yelling " I Quit " is accepting that I quit doesn't apply to the situation. The appropriate term would be " I failed "
If you are anything like me failure is not an option. Your success is your success. Own it!