5 Reasons New Entrepreneurs Fail

There are several reasons entrepreneurs do not succeed.

I’m about to get up on my soapbox and break down the top 5 reasons why I believe people do not succeed as entrepreneurs.

Are you ready to face the truth?

Do you know why you decided to become an entrepreneur? It doesn’t matter what business you decided to venture into… do you know why you chose that path? 

The lack of an identified outcome is my first factor for failure. What is an identified outcome? An identified outcome is knowing that no matter what happens, you know where you are going. You are aware that every choice you make either brings you closer to or takes you farther from your goal.

Is your outcome clear?

Why are you doing this?

When I first started with Monat, I saw the ability to create a life. I saw that people were paying down debt, going on vacations, and establishing security in their lives simply by helping 3-5 people a month. It was a no-brainer for me to make that happen. I knew we wanted financial security. I knew we needed stability for our family. I knew we wanted to be able to enjoy life, not just live it. But first, I had to get clear on the outcome to envision the goal.

I also see many people fail due to a lack of belief. Whether people don’t believe in themselves or their product, not having a belief in what you are trying to market shines through. You cannot fool your audience into believing in something you do not!

Do you go through the motions to check your “to-do” items off the list, yet you aren’t hitting your goals? If you lack the belief, you won’t see the outcome. Are you focused on why you chose this path? Don’t focus on simply checking off the boxes. Keep your driving force at the front of your mind.

When you truly believe in your cause… in your business… you will see the lives on the other end that can be impacted by your belief.

Third, not taking massive action will surely lead to failure. Being an entrepreneur doesn’t mean you work once in a while or when you feel like it. Being an entrepreneur means each and every single day you stop making excuses and continue to move forward. Daily, you are adding to your contact list, you are inviting people, you are sharing your story to make it known that what you’ve got is what they need! Remember, you won’t fail if you don’t try. Failure is a part of every successful business person’s history. Period. It's inevitable!

Don’t get stuck in analysis paralysis. If you are paralyzed by the fear of “what if,” you will never truly be able to move your business in a positive direction. Be real and understand what massive action looks like to you. Your goals are different from every other person out there. Realize what you need to do to take your business to the level of success you desire.

It doesn’t matter who your mentor is when you started your business, or if you have the latest and greatest gadgets to help you along the way. Your resources are useless if you don’t take the action to actually utilize what you’ve got right at your fingertips!

One major problem I find with people is their inability to be reflective. It takes a strong person to sit down and analyze themselves critically. You must be self-aware of what works and doesn’t work in your business. 

Take the time to make small adjustments along the way to help produce results. You cannot continually do major overhauls within your business every time something isn’t working. How will you ever know what doesn’t work if you don’t figure out exactly what isn’t working? 

Create trust within your audience and customers by being true to who you are and sharing your belief with what you are offering. Add value to their lives each and every single day. Don’t spit information at people – present it to them in a way that will help them understand why your service or product is valuable to them.

There is no secret to being successful. Everything is out there for you to create your own success. You must simply be open to figuring out what will work for you.

To partner with that, don’t quit. I see people quit every day for various different reasons. The main reason I usually hear is that they’ve tried everything to make their business work. While it might work for me or someone else, it just isn’t in the cards for them. False. You have not tried everything to make this business work. IF your business is truly something you want to be successful with, you will keep trying until you find what works for you. Don’t quit before you figure out what works for you. If you try 100 options then quit, you’ll never see that that 101st option could’ve been your game changer. If you quit, you will never discover what may have changed your life.

Finally, the biggest reason people will not succeed is that they make the conscious choice to not stay committed to matter what life throws their way. As an entrepreneur with more on your plate than just your business, you have to learn to keep it simple and not overcomplicate things! You really must believe in yourself and the opportunity/bigger picture. 

Focus on the three things that will keep your business moving forward:

Invite others to experience what you have to offer. Follow-up with potential customers. Take the time to get to know them, too! Share what you are doing and how it’s working for you. From having more manageable, healthy growing hair or feeling confident thanks to a skincare routine that works – it doesn’t matter what you are offering… but it does matter how you share it! Are you being bold while you share your journey?

To be successful, you must have a clear outcome insight, as well as a mentality of doing whatever it takes to get there. 

Don’t fall into a pattern of destruction. Don’t let the habit of your daily routine and the comfort of a “normal” life take over when you know you were meant to do more. Use any negatives as a driving force to make a change. Otherwise, you’ll crumble under those negative influences.

Your outcome must be so laser-focused that nothing will stop you. Stop for a moment. Think. Can you see your outcome?

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