Each year around the holidays I like to reflect my past twelve months to evaluate how the year went for my businesses.
Since 1998 I’ve been very fortunate to have worked online full time and have never had a “real job.”
Quite often people will ask me what is the “number one key” to success and how I’ve applied it in my businesses.
I’m not the smartest guy in the world.
I never had the best grades in school.
But I can credit almost all of my success for nearly two decades on one word: consistency
Just like going on a diet, lifting weights, etc. Results come over time.
The more you put in, the more that comes out. But it doesn’t happen overnight.
You have to stick with what you’re doing and work on it each day.
Have You Fallen Victim To The Dip?
Ever notice when you embark on something new, you have this overwhelming sense of motivation?
For example, when you first decide you’re going to start your own business, you maybe full of joy and motivation to get things going.
You dream of a day where you have an abundance of money and no longer have to answer to a boss.
A couple months in, your growth is stalling, problems are lining up, and you wondered what you were thinking…
Entrepreneur Seth Godin published a small book that explains this as “the dip.”
From my experience working with other entrepreneurs, this is where many will decide to throw in the towel:
Start applying this graphic to your latest venture or things in your life such as exercising, starting a new hobby, etc.
I believe once you’re easily able to recognize the dip, you’ll be better prepared to work through it and reap the results that lie ahead.
Powering Through The Dip
Once you realize you’ve hit a dip in your business, you can then apply “the secret” to success, consistency.
Remember, Rome wasn’t built overnight. You’ve made it this far, keep doing what you’re doing!
I had a business partner once that said, “when things are going the best is when we need to work the hardest.” That’s true in many facets of life, not just business.
Andy Drish published a blog post titled The Missing Chapter Of “The Dip” Every Entrepreneur Should Know About where he goes into a bit more detail:
I like how he includes “the breaking point” as many think once they get through the initial dip it’s all balling and bottles!
Look how he puts it:
The Dip — The period in starting something new when you hit a wall of challenges to force you to decide if you’re fully in or if you’re out.
Growth — If you make it through The Dip, you’ll move into “Growth.” This is the phase when you’re moving 100 mph and gaining massive results in a short period of time. It’s fun, energizing and exciting to see the fruit of all your hard work paying off.
The Breaking Point — Something happens after the explosive growth periods. It slows down. The results get harder. And then you hit a point all together when you realize what worked before isn’t working any longer. Usually this can come in the form of a painful life lesson. (I had to pass out at Urgent Care to learn this lesson.)
Recreation — In the recreation phase, you go inward. You know it’s not working. But you don’t know what “IT” is. It’s your blind spot. So you withdraw. You step back and focus on reinventing yourself and your strategies. This is required if you want to jump to the next level of success.
I’ve been to each one of these steps so I can totally relate! Thankfully I never ended up in Urgent Care, but there were certainly some times I shoulda went!
Your Success In 2018
Take some time to reflect back on your performance in 2017. Where did you experience dips? How did you overcome?
Tomorrow is a new day, now that you know what you’re looking for, you’re more-likely to be able to quickly recognize and overcome with authority!
I recorded a short video where I discuss this in my own businesses:
Feel free to ask questions below!
Ryan Gray is the founder and CEO of NameHero, one of the fastest growing independent web hosts in the United States. Ryan has been working online since 1998 and has over two-decades experience in Internet Entrepreneurship.