There is no way to overestimate the power of positive thinking.  Running your own business is quite possibly the most challenging and exhausting job you will ever have.  However, with the proper attitude, you can get through the tough times you most assuredly will experience.

And you're in luck!  If you're reading this blog, chances are you're either already an entrepreneur or are at least considering starting your own business.  Those who study optimism have found that optimism is significantly positively associated with the propensity to be an entrepreneur.[i]  Why is this?  Psychologists note that optimism tends to be highest when a person has an emotional commitment to an outcome, when a person believes the outcome is under his control, and when there is little hard evidence as to the likelihood of success or failure.  Does that sound like a business start-up to you? [ii]

Who says positive thoughts are important?

Probably the seminal work in positive thinking comes from Norman Vincent Peale's book, The Power of Positive Thinking.  In the introduction to the book, Peale tells what positive thinking can do:

"By using the techniques outlined here you can modify or change the circumstances in which you now live, assuming control over them rather than continuing to be directed by them.  Your relations with other people will improve.  You will become a more popular, esteemed, and well-liked individual.  By mastering these principles, you will enjoy a delightful new sense of well-being.  You may attain a degree of health not hitherto known by you and experience a new and keen pleasure in living.  You will become a person of greater usefulness and will wield an expanded influence." [iii]

Doesn't that sound like the very definition of a successful entrepreneur?

Peale's book has a definite religious bent, as his day job was being a preacher, but the benefits of having a positive attitude have been proven in a number of different applications.  Specifically targeted to the business world, Scott Ventrella makes an interesting observation in his book, The Power of Positive Thinking in Business.  He states that internal barriers are often the obstacle most responsible for an unmet goal, and that until those internal barriers are dealt with [by developing a positive attitude] "all the good intentions, plans, and motivational strategies in the world won't be good enough to see us through to our goals." 

He further states:

"Each year companies invest millions of dollars in knowledge and skills-based training to improve performance...In most cases where people know what to do (that is, they have the knowledge) and how to do it (they have the skills), they still don't follow through (perform) nearly as well as they could.  Self-limiting beliefs and negative thoughts that shape attitude are the culprits, blocking effective application of knowledge and skills." [iv]