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:
1. Passion.
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!
2. Belief.
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.
Very cool good advice!
Alisha Schlipp recently posted..So far we have 180 followers on Twitter!!
Good advice….yes we all do it for the money, but unless you truly believe you can add value to others’ lives…you won’t build a lasting business.
Sarah @ Play 2 Learn with Sarah recently posted..Kids in the Kitchen: Gluten Free Homemade Snack Mix
I agree that the passion is a big thing that an entrepreneur should have in order to be successful. Yes, when you keep your eye on building relationships instead of the money then things have a way of working out.
Penelope Guzman recently posted..We Know How We’ll Be Traveling #GoRVing @GoRVing
It is important to keep on top of doing the things that are easy not to do. It’s also important to remember your “Why” for being in business for yourself.
Angela recently posted..Fun Summertime Food for Kids
On those inventor-type shows on tv, I’ve seen people mortgage their houses and quit their jobs for their dream. Occasionally that pays off, but I’ve seen it go bad too. That’s just too risky, I think!
Liz Mays recently posted..Summertime Favorite Things Giveaway
Being too attached to the dollar is so dangerous because you can so easily lose yourself and voice.
Kelly @ Texas Type A Mom recently posted..Stay Hydrated and Enjoy Summer Fun with Mott’s for Tots
So very true. We have to believe in ourselves, and our work, if we expect others to do so.
jeanae recently posted..Easiest, Tastiest, Vegan Chocolate Chip Pancakes
Your list is right on the dot Stephanie. Thanks for sharing and never stop living your dream!
Nicole Orozco recently posted..Mompreneur Rockstar, Desiree Wolfe, founder of Desiree Marketing @DesireeMktg
That is amazing Sheila!I love that you have a blog that you love 🙂
I agree! Passion is so crucial in this!!
Singapore Mum Blog recently posted..Better Together with OREO
Most people I know that attempt their hand at their own business get so frustrated so fast. I for one, am like that with direct sales. I just get frustrated and move on to something else. Now, with my blog, I haven’t moved on and am glad as it has allowed me to do what I love.. stay home.
Sheila recently posted..28 Day Detox with FitTea