Alright, trust me this is not going to be a negative post. It is going to be real talk and straight to the point though. What are some of the reasons why most entrepreneurs fail? I have been an entrepreneur for 7 years, and I have been in many different types of businesses. Some were successes but most were failures. Why? There were a few simple things that I didn’t have in place when I was failing and I am ready to share them with you here.
3 reasons why entrepreneurs fail:
If you are not passionate about what you do, you might as well say bye bye to your business. I believe one of the biggest reasons why most entrepreneurs fail is because of lack of passion. Passion drives you. It fuels your daily actions. Passion keeps you moving forward even in the tough days. Find passion in everything you do and it will never feel like work. Your life will truly change!
Belief can go two ways. #1 you really don’t believe your product/service works. #2 you don’t believe in yourself that you can be successful with your business. I really struggled with this one with my first business. Did I believe the product that I was selling worked? YES! Did I believe that people could make money off selling them? NO! Even though I was promoting a product I believed in, I myself was not succeeding. Here is the secret though, I acted like I was. I tried desperately to get folks to join my team but I couldn’t get it off the ground. A few years later when I really believed in that particular business, I promoted the heck out of it and guess what? I qualified for their car bonus program in 40 days and started making a nice income. What was so different? The belief in myself and in my business.
3. Too attached to the “dolla” (make ya holla)
Ok so I had to add a little joke in there. 🙂 Another big reason why you see entrepreneurs fail is because they are too attached to the money aspect of it. Sounds kinda weird right? They are working out of desperation and that is a scary place to be in. Putting EVERYTHING on the line for your business is never a good thing. Most of the time they look at every person with dollar signs in their eyes instead of getting to know people.
So what can you do to make sure as an entrepreneur that you don’t fail?
Of course, like in life, there are no guarantees. All I can say is don’t stop believing in yourself! Don’t get too attached to the outcome! AND Find passion in everything you do! In return, you will live a healthier, happier, more successful life.