3 REASONS BUSINESS OWNERS FAIL!
One of the most frustrating things I experience with business owners these days is their lack of ability to make a decision! I know that many of you can relate because most often, and at this time of year, you hear the comment ‘well, no one commits to attending events until the last minute – that’s just the way it is.”
That kind of comment and that way of thinking drives me around the bend. How can any business owner expect to succeed – to grow and profit – with that kind of thinking and those kinds of habits? I had a conversation with a very success entrepreneur this past week and we were drilling down on our observations of why business owners fail. I believe we nailed it!
Here’s what we have both observed and I have no doubt that you have had the experience yourself and/or YOU are the one who is guilty of these “3 sins”, as I have come to call them.
1. INABILITY TO MAKE A DECISION.
As a business coach and speaker, I regularly host LIVE events around the country. This is the one area, in particular, where I experience people’s inability to make a decision. It drives me nuts because I know the way the mind works – ‘the way you do anything is the way you do everything’. This inability is a huge barrier to achieving goals and succeeding at anything in life. Decision-making needs to be taught in schools. Decision-making is something I teach my clients on a regular basis. I once heard someone say that ‘lack of ability to make a decision is why there are so many dead squirrels on the street’ – I always remember that when I am driving and see dead squirrels. The sad part is that I can relate that over to entrepreneurs. We experience it when we make calls to people to make a decision about attending an event that we are hosting. Why is it so hard? What are people afraid of? Are you guilty of this? If so, you’ve got to learn to just make the decision and then make the decision right, if need be (these are the words of wisdom from my mentor, Larry Winget.) Developing this practice will remove an incredible amount of stress and anxiety from your life.
2. LACK OF COMMITMENT.
We now live in a commitment-phobic society, of that, I am convinced. In business, I see so many other entrepreneurs who make a commitment – and then back out of it. People are backing out of contracts, attending events, working with JV partners and not showing up for something when they said they would. It’s an epidemic and it makes my stomach turn. This is such a lack of professionalism and, more importantly, a lack of credibility. You lose the power of your word when you fall into these sloppy and unacceptable habits. You get used to having very low expectations of yourself and you expect others to comply. That’s not the way it works in business. Take a really good look at what you are doing, saying and how you are acting in the business world. Is this you? Then stop it! You are better than that. You deserve better than that. And again, in the words of Larry Winget (he’s had such an incredibly positive impact on me, LOL!), ‘do what you said you would do when you said you would do it in the way you said you would do it”. Is it always easy? – NO. But no one ever promised that everything in business would be easy. Besides, it was YOUR decision to become an entrepreneur. Act like one.
3. NOT BEING CONSISTENT.
And this one sums it all up – my clients often ask me what they need to do to succeed. It’s not complicated. Pick one strategy and stick with it. If you decide that video marketing is going to be your things – then be consistent with getting videos done and out to the market. If public speaking is the way you choose to grow your business, then hit the phones, get booked and get out on stages – be seen, be heard, get known. Lack of consistency is shooting you in the foot! This is an easy fix, folks –
Make a decision.
Hold yourself to the commitment.
Be consistent in your actions – schedule it – then do it!
I’m on a bit of a soap box today and this is my rant. It just breaks my heart to see so many entrepreneurs struggling to grow their business when, in reality, it just comes down to these 3 things. There is no reason to fail. You can do this. One step at a time.
That image of the dead squirrels in the middle of the street… so powerful! Thank you Pat!
Thank you. Imagery sometimes is the best way to get a point across.
Pat, poor squirrels They bear the brunt of so many entrepreneur stories – chasing squirrels vs. doing the one thing; getting run over in the street. I am glad my squirrels on my farm are living a happy life, deciding which acorn to eat. It is a really spot on explanation of why so many people go into business and then complain about not being successful.
Great advice Pat. And also love the squirrel analogy – I won’t be able to see another dead squirrel (or animal of any type) without thinking of your advice.