Why Do Entrepreneurs Fail

Why Do Entrepreneurs Fail

In general, in my 25 years working with business development professionals, I have found that they have learned how to think like entrepreneurs. This enables them to reach the top of their profession. Everyone will tell you that you learn a different way of thinking.

Real entrepreneurs have problems with their business opportunities for various reasons. The most obvious include lack of capital, lack of understanding of marketing, and human resource issues. However, based on my own business experience and the knowledge of others, there are three main reasons why people fail to do business. They combine the success of their business with their values. They neglect to set realistic goals and plans for themselves and their companies.

They don’t want to pay the price for success.

Real entrepreneurs with the right attitude have survived for some time. You have learned to understand the axioms of Raleigh, Celly, and Tol. Roles In contrast to those who have problems, successful entrepreneurs have learned to separate their roles in life from their values ​​or identities. They understand that performance or role failure in their efforts is not an assessment of them as individuals.

People who tend to equate their values ​​with the identities of their multiple roles inherently resist risk and try to maintain the status quo. The ability to distinguish between these two identities allows them to be vulnerable to risks and threats, a key component of success as an entrepreneur

People who take risks fail to experience it and learn from it. Not only have they learned how to distinguish their role identity from their own identity, but they have also learned lessons from risk and failure. They understand that initial failure is a natural part of a successful startup. You can receive these experiences, learn quickly from them, and move forward.

This is very important for success as an entrepreneur.

You must be prepared to face and face the initial mistakes that will occur over time. Objectives Although much is said and written about the goals and plans needed to succeed as an entrepreneur, few people learn the mechanism of successful goal setting and planning. This is not a plan, but planning is important, and the goal-setting process allows them to develop trust, take risks, and fail.

Successful entrepreneurs are not the only ones who focus on goals. 

You have learned to carry out the process of goal setting and strategic and tactical planning. Visualizing, recording, and making detailed plans to achieve these goals provide confidence and motivation to assert yourself.

They are more than just a business or operational plan, they have goals and plans for all the important roles in their lives. They learn early on that if they don’t complete their plans, they might be part of someone else’s goals or plans. They describe their fate, take leadership positions that take risks, make adjustments if necessary, and affirm themselves from time to time.

After all, entrepreneurs understand that there are costs to be paid.

To succeed in a role in life, you must be willing to pay the full price once. There is no overnight success as an entrepreneur. I heard him say that one night’s success usually takes 15 to 20 years. One of the initial costs that employers often have to pay is “overwork”, which can include growth outside their current contact circle.

Because most people tend to live in their psychological well-being zone, they gradually lose their identity with risk-takers. They feel comfortable with the type of person who is more like them. Very often the employer goes to another group of employees who understand the trip. Going out, being human, and being involved in unwanted things that risk is not in itself.

Because of this, new stress can arise in old relationships. 

It has been said that pioneers are shot in the front and back, and only through a process where you differentiate the performance of roles from your values, take risks, overcome difficulties, stick to your goals, and adjust your plans to finance your life cost.

Conclusion

Entrepreneurs must learn something to be successful, including the daily mechanism of running a business, producing products, providing services, making money, and working with people. The biggest challenge of all is developing self-image. They do what they want and motivate them; This supports their desire to win against adversity in the long run.

”Successful entrepreneurs have learned to change their thinking to win where others fail on the road.”

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