Why Entrepreneurs Fail

We know that not all entrepreneurs are successful all the time. Try and try again and eventually some entrepreneurs make it. But what are the conditions for failure? Can they be predicted? You would think a good entrepreneur will do their research and market studies before they jump in. One school of thought suggests that success actually has more to do with how you think and behave. Thoughts and habits determine more about an entrepreneur’s success than good ideas.
Entrepreneurs fail because they believe that directions are unchangeable. Oppose this self-doubt and believe you can change and influence situations. Hand in hand with this theory is not taking action until 100% ready. Success follows action. Step out of the boat and coarse correct as you go.
Not asking for help is the bane of any prideful entrepreneur. It takes a village to mount some projects. Ask questions and don’t worry about whether the questions are dumb or not. Keep learning because you don’t know everything. Go to workshops, seminars; get a coach or a mentor. Become a life-long learner.
Sweating the small stuff will signal an early demise. Spending too much time on things that don’t matter and never lead to results will zap your strength. If you have revenue streams in jeopardy don’t focus on the font to use on your website. Get over it and get moving.
Don’t wait until you have the money before getting into action. This will spell a quick end. Many tools today allow entrepreneurs to start and build a business with small initial capital outlays. You will have expenses but get moving on the goal so the money can start moving.
An entrepreneur cannot correct mistakes it they are not stepping out enough to make them. If you go ahead and fail quickly you can step up to success sooner. Making mistakes is a part of every success story. If you are afraid of making mistakes you are never going make it as an entrepreneur.
Losing focus causes an early end to many businesses. Owners need perfect clarity to what needs to happen. A long range plan and a daily plan will help from succumbing to the distractions that move an owner away from the company’s clarity of purpose.

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