5 Deadly Pitfalls That All Entrepreneurs Need To Avoid
Entrepreneur is a frequently used word these days. For some reason it has a reputation of being “glamorous” in the eyes of those who do not pursue it. I bet that you can think of a few people right now who use the word to describe themselves.
For those who view this path as an instant solution for all of life’s problems, I have news for you…
This line of thinking is not reality!
This is the blind ambition that leads so many (90%+) of small business owners into failure within a few short years. This does not need to become your reality too. Failure is a decision and a complete absence of desire. Where there is a will, there will always be a way.
I have outlined 5 deadly pitfalls that you need to avoid in order to “stay in the game.”
1.) Chasing the money.
Please do not make this rookie mistake and pursue an opportunity just for the money. When times get tough you will find that without heart and passion, you have no resilience. I have made this mistake myself and I experience massive failure. It cost me a lot of money, embarrassment and most importantly, my time. Passion coupled with helping others in some fashion is where the magic happens. Are you pursuing your dreams for the right reasons?
2.) Listening to the wrong people.
This one gets a lot of entrepreneurs. If the people giving you advice have never started a business themselves, run the other way! People like this are not allowed to have an opinion, if you ask me. Would you take my advice on scuba diving if I first told you that I had never been? Your time should be spent seeking the guidance and direction of those who are in the place that you want to be! If you remember nothing else, please remember this.
3.) Not believing that you are worthy of success.
Mindset matters more than anything else. I have come to realize this in a very short amount of time. Your mindset is the foundation on which all your dreams are built. If you are not rock solid in your beliefs, failure is certain. If you are having difficulty with this, consider seeking the guidance of a mentor or a coach. I know a few if you need a suggestion. This is a huge deal and you must spend as much time as you need, to get this right. Seriously.
4.) Building a business that doesn’t make any money.
A business that cannot sustain itself will not be around very long. A business that generates no money at all, is just a hobby. It is important that you think about that long and hard. If you find yourself heading towards the “hobby” realm, figure out a way to generate revenue with what you have got. There is money in EVERYTHING, so think outside of the box and see what happens.
5.) Trying to be a “Jack of all trades.”
I have been guilty of this more times than I care to remember. It’s an easy trap to fall into. It feels like you are making progress, but if fact you are just treading water. You are only minimally effective in all areas that you are involved with. Try picking just 1 thing that you are really good at, and focus on becoming great at that!
I hope these tips have provided you with some value and I hope you can learn something from all of my previous mistakes (all of the above)! Stay inspired and keep grinding my friends…