3 Reasons Why Most Entrepreneurs Fail — 4 Minute
One of the toughest components of entrepreneurship is knowing where to initiate. Everyone tells you, go ahead and start that business or invest in some imaginary coin or stop that Shopify store in 15 minutes and it doesn’t cost you anything. Well, here’s what they don’t tell you. Inventory costs money. Or maybe it’s some digital marketing opportunities or some consulting opportunities that you could get clients overnight, even though you have no experience and no credibility o r maybe you have an idea. You have a Authentic idea, but you don’t know how to Initiate. So to give you some clarity, I want to share with you three reasons. Three reasons why most entrepreneurs fail
1.Following Fake Gurus
You see, the great thing about the Internet is there’s so much information out there. The sad thing about the Internet is that nowadays everyone is an expert.
Everyone is a guru. They’re all telling you to do this and don’t do that. Everyone and their brother in law and the dog. It’s got an ecommerce store right now and they’re telling you that, hey, just follow my system and you live the life of your dreams. If you ask yourself if you think ardently what qualifies them to make advice to you.
Most of these so called experts, they come and go. I’ve seen it for so many years. Right? See the name? The game is not getting rich.
The name of the game is staying rich. Most of them are called Specialists are experts. They kind of fly by night. They do not last. It’s like fireworks, low noise and laid on nowhere to be found.
So if you notice, who you learn from is much more important of what you learned, are they truly proven?
Are the models proven to work in different market conditions and in different circumstances?
And if you weedy, dig, dive, what do you think about it that will eliminate 99% of them. And these gurus are telling your trends that might disappear overnight, then you’re building your future on quick sand instead of on a solid foundation.
So ask yourself, are these trends gonna be around 1 year, 2 years,3 years, 5 years, 10 years from now?
That’s what you want to focus on.
2. Trying to do things in the wrong order.
Let’s take, for example, that you want to start a Shopify store. Yes, it kind of doesn’t cost you a lot, but inventory cost you
So you invest that last few thousand dollars, you have you go all in into this particular venture, hopefully that it would work.
What if the product doesn’t sell? You put all your life savings, a little bit of money that you have into it. And then now what?
What do you do? Where do you go from here?
You see, instead of doing that and putting all your eggs in one basket, the best thing you can do is start investing in yourself. First investment skill set that you can deliver to the marketplace in exchange of money. This dramatically lowers your risk.
And then when that is working, then you can start your business.
3. The incapability to make prospects into clients
Michael Gerber from Emit talks about this. Most people, they’re actually not entrepreneurs. They are technicians suffering from an entrepreneurial seizure, meaning that they are very good at the technical work at the thing.
But they don’t understand how the business works. They do not know how to sell. See the number one skill that you need as an entrepreneur as a business owner is the ability to close. If you don’t close sales, you will not generate revenue. And with no revenue, you don’t have a business.
And yet most people, they get into business without developing that skill set, most people don’t know how to communicate. You will know how to sell. Almost no one knows how to close. When you can close anyone at any time, it means that you have the ability to generate revenue at any moment. Then you can create revenue for your company.
And that is the number one skill that you need to make sure that your business is successful. If you’ve made it this far, I hope you find this eye opening and really consider these three reasons before you go out there and start your own business.
This is our 4 minute . See You Next Time
Originally published at https://www.a4sheet.xyz.