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Perhaps you're reading this, and you have one week's worth of cash left in your bank account-and mounds of past-due bills. A major potential client (who you've been banking on) decides not to move forward with you. Is this a sign to call it quits? What more can you take? How do you survive and thrive no matter what roadblocks get in your way? The key is to take on an "opportunity mindset."
An opportunity mindset is the understanding that oftentimes, perception is reality. This means that an experience in itself is neither good nor bad-it's what you perceive that experience to mean that counts.
Take, for example, 26-year-old Dimitri Ekimov, CEO, and 23-year-old Sergei Mikhailov, president, of aTelo.com, a start-up Arlington, Virginia, personal communications portal. Ekimov was 22 and Mikhailov was 19 when they first approached an investment banker about their business concept. "He looked at our ages, saw that we were untested, and looked at our obligations and business model," Ekimov recalls. "He didn't believe [in us]."
The natural response for Ekimov and Mikhailov, as it would be for many young entrepreneurs, would be to engage in "obstacle thinking," viewing the situation as an impenetrable roadblock to their success. With obstacle thinking, you begin to focus on reasons why you can't succeed, thinking things like:
- Maybe this idea is just a dream.
- Perhaps I need to table my idea for a while and work a few more years in my job to get more experience.
- Who's going to take me seriously at my age, anyway?
- Don't have the right skills-nor do I know the people who can help me get this thing off the ground.
- Yeah, maybe this project is way too ambitious. I'll stick with reality and a safe, steady paycheck for now.
And if Ekimov and Mikhailov had succumbed to obstacle thinking, they could also dwell on the potential barriers to opportunity that come with being first-generation immigrants from Russia. But they didn't. Instead, the aTelo founders looked at their experience as a defining moment-an opportunity, if you will, to learn what it takes to build a company that attracts investors. The botched meeting with the investment banker revealed their weaknesses, giving them insight as to how to improve the model. That day, they faced a decision: Do they keep their jobs and table their dream, or do they resolve to turn their passion into a viable business?
The partners didn't hesitate. "We took the pay cut [by leaving our jobs] and decided to move forward," says Ekimov. And they haven't look back since. With 20 employees and a recent $15 million VC round, they've had no reason to do so.
Sean M. Lyden is co-founder and CEO of PRessCafe.com Inc., an
Atlanta-based business-to-business portal that connects small
businesses to the right journalists-for free. The site is expected
to launch this fall.
What can you do to cultivate an opportunity mindset so that you, too, can turn your problems into profits? Here are three tips:
1.Be sensitive to your thoughts. The moment you find yourself feeling anger or frustration, tell your mind "Shut up!" Understand that when you allow negative thoughts to take charge, you lose control of your destiny. Your power to succeed lies in your commitment to control your thoughts.
2.Aggressively look for opportunities. When you hit a roadblock, ask yourself questions like "How can I profit from this situation? What can I learn from this that can add value to my business? How can I turn this obstacle into an opportunity?" As you write your answers in a journal or on a sheet of paper, you'll find yourself energized and driven to get back into the race.
3.Take action today. The aTelo founders didn't waste time. The day they were turned down by the investment banker, they resolved to learn from the experience and pursue their dream with added vigor.
What about you? Whatever your problem, resist the temptation to complain, grumble or worry. These negative emotions can tighten you up, keeping you from seeing the real opportunities that come with every obstacle. When you learn to convert your greatest obstacles into opportunities for profit, nothing can stop you from succeeding.