Why Most Entrepreneurs Fail

Restored from the Empower Network archive (2011–2017), lightly edited to meet our current advertising standards. Views are the original author’s.

The Number 1 Reason That Most Entrepreneurs Fail

At some point or another you have probably thought of starting your own company.

Maybe you had a great idea and thought it would be the answer to everyone’s problems…

Or maybe you saw an opportunity that others didn’t see and you knew that if you started your own business you could make it successful…

Or one day you drove up to a McDonald’s and thought, “If only I could get a franchise…”

Or perhaps a friend or family member got started in some opportunity and showed you the “plan” – maybe you believed in that plan when you saw it…

So, why is it that most entrepreneurs fail? Maybe a better way to say it is, why do most start ups fail?

Regardless of the business, about 95% of businesses will fail within their first 2 years.

Many people will tell you that in the majority of cases it is because of lack of capital. In other words, they ran out of money, and weren’t making enough to keep going.

But that’s just a surface reason.

The real reason is found deep within…

DESIRE

WILLPOWER

PASSION

BELIEF

These words are all very similar, and you could pick any one of them as the reason a business succeeds or fails.

If you do not have enough desire, willpower, passion, or belief in your business, product, service, etc – you will fail. Every time.

YET…

On the flip side – if you DO possess these traits, then you will succeed! No matter what!

The truth is most people quit.

They give up.

They lose hope.

They stop believing.

If you have a dream, if you have a vision of what your future could be, if you have ever wanted to have your own business or do your own thing, then…

NEVER, NEVER, NEVER GIVE UP!

Things don’t always work as planned. But that doesn’t mean that things aren’t working.

We fail so we can learn vital lessons for success.

If we never failed we wouldn’t know how to run a successful company.

It’s not wrong or bad to fail, it’s just part of the journey.

So, instead of using the work fail, I now call it FEEDBACK.

In other words, if I try something and it doesn’t go as planned – instead of calling it a failure (as most people would do) I just take it as feedback – I take the good and bad and make sure to get rid of the bad the next time around.

It’s like a child learning how to walk. It takes a LOT of falls before they get it down.

And we, as parents, siblings, grandparents, friends – we encourage them. We lift them up, tell them they can do it. Help them try again. Give them hope.

Why can’t we do that in business?

Why can’t we encourage and uplift others when they are down?

Why not remind them, and often US, that we are not a product of our past. WE determine what our future will bring. WE can create anything we set our minds to.

WE  can be in the 5% that succeed!

HOW?

To quote from Nike, JUST DO IT! AND NEVER GIVE UP!

Yes it takes work and effort and sometimes it’s not easy, and sometimes it just plain stinks…

But if you keep going – you will reach your goals.

Don’t be like the 95%. Be different. Be yourself.

Work hard!

Never lose hope!

You can do this! I know you can!

You’re awesome!

If you’re ready for change in your life, and you’re willing to take action, I want to help…

MAKE A DIFFERENCE!

Justin Humphries