Top 3 Reasons - People Fail in Business
First I’ll start off by qualifying my definition of failure as so simply quoted by my dad many years ago. He said, “You only fail when you stop.” So if you were unsuccessful at something (as I have been too many times) that dos not mean you have failed. This is not a blog post intended to kick you while you’re down. Get up, keep going and be thankful of the lessons learned along the way.
Geesh, I feel like that sentimental salutation could be a blog post in and of itself!
Let’s cut to the chase. There are many reasons why people fail in business, and yes it’s very easy to blame (the lack of foot traffic, rough economic times, higher product costs blah blah blah blah blah. I have been fortunate enough to observe and consult with many different businesses over the years, and I have taken all that I have heard an learned and comprised a list of the top three reasons why people fail in business.
GET over yourself! You'd be surprised to see how many people are willing to let their business, their baby, their blood sweat and tears whither away instead of making a small neccessary change to save their business. And what's the reason for this? It takes a hard shot at their pride, there self image. The most frequent examples of this kind of attitude I hear is, "It's not like me to do this..." Yes I know its "out of your comfort zone" but is it really worth losing everything you've built? I have heard the worst of the worst. These include: " That event is too small for me to go to" "I hate sampling. Im not chasing anyone down to try my product" "If my business isn't profitable in 3 months. Im out"
The result of being too full of pride is usually a plunge to very bottom. When you're too full of yourself to experience the humble benefits of success, you've definitely got a problem. Humility is attractive and let's customers/clients and potential customers share in the building process of your venture. At the end of the day it can be said, " We built this together!"
WAIT! Don't get me wrong... I absolutely love people. However, as my mom once taught me (clearly I learn a lot from my parents) you'll only succeed in life when you learn to graduate from people (and by people, she was referring to negative people, doubters, people who don't believe you can do any more than you're doing right now.) This lesson was so important for me to learn throughout my life and business career, because I felt like so many people had so many expectations for me, and if I didn't live up to them, then I "FAILED" them. I soon came to realize, that by rising above people's expectations for me and just "doing me" I was able to set my own standard at my own pace. My success rate ever since has been 100%, why? Because you can't fail yourself unless you quit on your self.
Patience is an invaluable trait. If you can perfect this (which IS NOT EASY) you are on your way to some serious success. The key phrase here is "on your way..." You see patience has a course, and too often, we rob patience of it's effort in finishing it's course. We interrupt this process by, jumping ahead and doing things prematurely or before their time (like scaling our business before we've mastered our primary operations...#GUILTY!) Or simply pulling the plug before patience is able to deliver it's results. Think about it, in year one of your business venture, only patience can tell you what year 5 will be like. In year 5, only patience can tell you what year 10 will be like, and so on so forth. Most people never get to see the future of their business or idea because they stole the future from patience. Give patience a chance. Everything about my year one in business pointed towards a FAILED venture... but with a little love, hard work and patience, we are now approaching year six.
Do you have another reason that you think might be missing form this list? I'd love to hear it!