Bradley Will's - 10 Reason Young entrepreneurs fail

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Real Estate Agent with Keller Williams Realty East Valley

Bradley has shared some great insight here, and I think it can be helpful for anyone working in their own business! You can learn more about Bradley on his site http://www.bradleywill.com

September 8, 2009 By Bradley Will

We hear all too much about what you have to do to become successful. I have discovered one proven way to become successful…Fail often. How do I know this? Well, we won’t get into that right now. I have come to terms with distinct character traits that hold back young entrepreneurs and when repeated, will definitely keep you from succeeding in your business and life in general. I’d like to say thanks to Russell Yermal for his contributions on this article.

Lack of Punctuality

Being on time, every time, is a necessity in business. If you cannot keep your word, you cannot be trusted. Successful people will instantly make a judgment on your character through your punctuality. Once you have a respect for your own time, you create posture and people will start to respect yours. Purchase a day planner to organize you schedule and make a to-do list every night before bed. They Said It Best: “I could never think well of a man’s intellectual or moral character if he was habitually unfaithful to his appointments.” -Nathaniel Emmons Read This: No B.S. Time Management for Entrepreneurs

No Persistence

Approaching with “I’ll try this business” attitude will put you out of business faster than you got in. There is no trying in business. There is success and nothing else. Failure is just a step in the process. A friend told me once that he used to fail 3-4 times just to make sure he had it right. Every time you fail, it get’s easier and easier. You must get your running shoes on because being an entrepreneur is a marathon. You must train yourself emotionally to have lower highs and higher lows. They Said It Best: “When you get into a tight place and everything goes against you, till it seems as though you could not hang on a minute longer, never give up then, for that is just the place and time that the tide will turn.” -Harriet Beecher Stowe.  Read This: Excuses Begone!

Selfishness

You are going to be broke if you try to be a one-man show. Without other people, you don’t have a business. It is not much fun being wealthy and on top without anyone to share it with. What if you could make $100,000 by going out there and hustling to close sales or make $125,000 by giving and helping people? Which would you choose? Sounds like a stupid question, but did you know that givers end up earning more? Your question should not ask how much you can get in payment for your product or service until ask how much value and service you can provide. They Said It Best: “No one has ever become poor by giving.” -Anne Frank Read This: The Go-Giver

Scarcity Mindset

Competition will destroy your business. Rather, the thought of competition will destroy your business. You most likely grew up with a negative energy toward money. Maybe money was prevalent or maybe the lack of it was always the topic at the dinner table. What ever it is, it is not your fault that you think money is scarce. It was hardwired into your brain since a child. But, you can’t grow a business on a scarcity mindset. They Said It Best: “Abundance is not something we acquire. It is something we tune into.” -Wayne Dyer Read This: Secrets of the Millionaire Mind

Lack of Clarity

It’s easy to embrace the entrepreneurial spirit. Having a clear, distinct, carved out path is the difficult part. At times, you may feel as if you are not disciplined. More times than not, it is an uncertainty on your destination. If you did know where you wee going, you probably would know what you had to get done. If you do not know where you are going, any road will get you there. Ask yourself, what can I do better than anyone in the world? They Said It Best: “Clarity of mind means clarity of passion, too; this is why a great and clear mind loves ardently and sees distinctly what he loves.” -Blaise Pascal Read This: Good to Great

Fear

Paralyzation by fear will halt you in your tracks. Entrepreneurs usually fear what is unknown. They process is going to be unfamiliar to you. You can combat this with knowledge. Our minds, which are our own worst critics, often jump to imagining improbable situations when we consider stepping out and taking risk. When you find yourself in fear of what might happen, stop and ask yourself, “How bad will things be if I DON’T do it?” They Said It Best: “I have learned over the years that when one’s mind is made up, this diminishes fear; knowing what must be done does away with fear.” -Rosa Parks Read This: Feel the Fear and Do It Anyway

No Humility

The moment you stop growing, you begin dying. The true meaning of humility means dark, rich, fertile, organic soil. Soil poised for growth. Many young whippersnappers already know everything about business. Their confidence is better know as arrogance and ignorance. I was one of those go-getter’s. I was right and nobody could tell me otherwise. That was until I learned to never miss a good chance to shut up. We have two ears and one mouth for a reason. They Said It Best: “Humility leads to strength and not to weakness. It is the highest form of self-respect to admit mistakes and to make amends for them.” -John J. McCloy Read This: Aspire! Discovering Your Purpose Through The Power of Words

Being Comfortable

You are a spitting image of the 5 people you surround yourself with most. You will experience growing pains early on and it is your choice if you decide to go back to what feels comfortable or to continue to reach and stretch your comfort zone. The longer you stay attached to those who bring you down, the longer you will hold yourself back from getting what you want. They Said It Best: “If you want to be comfortable, take an easy job. If you aspire to leadership, take off your coat.” -Unknown Read This: Think & Grow Rich

Poor Communicator

People will walk all over you and not take you serious if you cannot communicate clearly what you want. Effective communication is the basis for all relationships and where most people fail is they think it’s just about telling people what they want. Communication is actually based on the ability to listen and understand on what others want. Next time you’re on a sales call, realize that no one will hang up on you while they are talking. They Said It Best: “The most basic and powerful way to connect to another person is to listen. Just listen. Perhaps the most important thing we ever give each other is our attention.” -Rachel Naomi Remen Read This: How to Win Friends & Influence People

Lack of Discipline

The lack of discipline leads to wasted talent. If you can’t harness that talent and put it into action every day, you don’t have a business, you have a hobby. If you lack discipline, you must stop and ask yourself what you really want. If you were really doing what you were passionate about, you would have no problem doing the work, and creating that thing which summons your joy. When you find yourself all over the place, lacking discipline, this is the right time to step back for a moment, examine your life, and decide what you really want. They Said It Best: “Talent without discipline is like an octopus on roller skates. There’s plenty of movement, but you never know if it’s going to be forward, backwards, or sideways.” -H. Jackson Brown Jr. Read This: The 7 Habits of Highly Effective People

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