4 Reasons Why You Might Be Failing As An Entrepreneur
There can obviously be a lot of reasons why you might be failing as an entrepreneur in 2017. Some may not be in your control, but many are. On the flip side you might be succeeding but just don’t know it yet.
Failing is one of the easiest things an entrepreneur can do. Any person really, is susceptible to failing. I’m sure you’ve read many articles telling you “how to be successful”. But isn’t success subjective? You get to determine what success means for you.
Reason #1 – You’re giving up too early
When you’re an entrepreneur giving up shouldn’t be in your DNA. You’re hardwired to keep pushing forward regardless of what others, even loved ones, tell you. If you’re failing as an entrepreneur take a good look at how you react to opinions.
Time, opinions, mistakes, these don’t mean anything to someone who’s an entrepreneur. Real success will always take time. A lot of people will try and bring you down, directly or indirectly. And ultimately you will also make many mistakes.
Making excuses why it’s not working is the same as giving up. Pointing the finger to everyone and everything other than yourself is the first step to failing as an entrepreneur. It’s a weak way to show you’ve lost interest and you don’t want to do it anymore.
When you’re not moving forward you’re going backwards. This includes your personal growth. Embrace your shortcomings and mistakes. Only then can you progress and create a strong resolve to never give up.
Giving up too early simply means you are giving up period. There are only two destinations when you’re an entrepreneur: Failure or success, and the right failure can lead you to the right path for success.
Reason #2 – You’re values are askew
It’s okay to want nice things and lavish lifestyles. We’re all human and have desires. The difference is to place knowledge and experience over luxuries.
Being fancy is our mortal enemy and a common cause of why you could be failing as an entrepreneur. For starters valuing ‘stuff’ over knowledge definitely puts you behind everyone else. Eric Thomas says it best: “Your cell phone ain’t bringing you nothing but a bill.”
Being materialistic only creates short term happiness. Short term happiness might make you feel better in the moment but there’s always a price to be paid. Your long term success and happiness is what you will be giving up.
Spending your money on a $5 cup of coffee doesn’t help your business. Neither does spending your money on Yeezys or a fun Friday night. Whereas spending $5 on boosting your latest Facebook post could. Always think twice when you’re about to make a purchase. Think “Is this going to help me accomplish my goals?”
Reason #3 – Others interest you more than yourself
Creating a successful business as an entrepreneur is hard work. It’s not just the time and money. You also have to invest in your own personal growth.
The better you understand yourself, your strengths and weaknesses, the better your business will become. It’s an important step to take so that your marketing tactics and overall business strategies can be more effective.
People are naturally interested in other people. However you shouldn’t spend too much of your time worrying about what other people are doing or what they think of you. Spending your time on social media on celebrity news, twitter feuds, sending a snap to your friends every minute, are all reasons why you could be failing as an entrepreneur.
Instead spend your time reflecting, learning, engaging with the right people, or working on anything that will help you reach your goals. You don’t have any time to waste.
Social media can be a great opportunity when used effectively. You can create relationships with the right people, share your stories with the world (quality content, not useless content), and read content that will help your personal and business growth!
Reason #4 – You have unrealistic expectations
Yes, you can become the President. You very well could become another billionaire or first trillionaire! But will you? Take a good long and sometimes harsh look at yourself in the mirror.
It’s by all means not impossible but are you willing to sacrifice a great deal to accomplish such feats? How about putting in the astounding amount of time, money and hard work?
Knowing yourself will help a great deal when it comes to establishing your goals. Sometimes you might even realize you don’t want to become President. Your subconscious knows what you want. Learn how to better understand yourself and you’ll know the true expectations you hold over yourself.
It’s not always about money either. It could be expectations to act a certain way like being a charismatic salesperson or a genius software engineer. Then you’ll realize that it’s not in your nature to be either. If you don’t, failing as an entrepreneur will become mentally & emotionally painful along with financially.
Set expectations that you are comfortable with. If you believe it’s in your power to reach the them, by all means. As long as you’ve spent a fair amount of time reflecting.
Failing as an entrepreneur is easy. Succeeding is hard.
I truly believe when there’s a will, there’s a way. What I’m still learning today is the same that any aspiring entrepreneur needs to. Myself.
Understanding yourself as much as possible will help you set the right expectations, appreciate things that matter the most to you, grow as not only an entrepreneur but as a person, and ultimately succeed in your goals by never giving up.