hi I’m Evan Carmichael welcome to an
edition of ask Evan today Mason a
question from one of our newsletter
readers male khoa who wrote in asking
can you please give me some information
on why entrepreneurs fail great question
thank you for answer for asking it so
many entrepreneurs fail something like
eighty percent of entrepreneurs fail
within the first five years and there’s
a number of reason why that happens and
hopefully I can shed some light on it so
the first one is a lot of entrepreneurs
get into business for the wrong reason
so they get into mrs. just trying to
make money and that’s great we want to
make money but it shouldn’t be your main
reason for becoming an entrepreneur if
you look at any famous entrepreneur and
if you look on our website with the
largest collection of famous
entrepreneur stories these guys started
because they want to make a difference
they wanted to help people do want to
have an impact and it sounds may be very
fluffy but it’s true you know you got to
have a strong passion for what you’re
doing you got to really love the
business that you’re in because it’s so
hard it’s it’s brutally tough being an
entrepreneur and most people will give
up because they don’t love what they’re
doing and a lot of these entrepreneurs
the successful ones they would do what
they’re doing even if they weren’t
getting paid for because they love it so
much so that’s what you have to first of
all find something you love so much you
would do it to help people and you do it
even you weren’t getting paid for it
because you have that strong passion for
so if you haven’t found it yet don’t
settle you know keep looking for it
don’t give up on on having that great
business idea don’t just jump into
something because you think you’re going
to make a lot of money and typically
you’ll find that money will motivate you
only for so long when you don’t see the
results coming in and you really hate
what you’re doing every day you’re not
going to keep at it you know what it’s
too hard and so you’re going to quit so
step number one is finding something
you’re really strongly passionately in
the deepest part of your soul believe in
and you know you’re helping people
because that energizes you right when
you find people writing in to you saying
you change their life or thank you so
much for that that
information or that product of that
service it made a huge impact on me that
motivates you to keep going at least it
does for me and so it ends up giving you
the energy you need to get up every day
and do it all over again and so you
really want to love what you’re doing
and there’s going to be parts of running
the business that suck even as you grow
and build beyond yourself and have a
team to help you with some of the
admin’s stuff there’s still parts that
suck but hopefully it sucks less but as
you are able to grow your business and
build it more and more around the things
you’re really good at it really love
doing so I would say the number one
reason why entrepreneurs will fails
because they picked a business that
they’re not super passionate about and
they’re not helping people in so that’d
be the first place i would start the
next reason i would say a lot of
entrepreneurs fail is they quit too soon
they don’t allow momentum to build and
running the business is really hard you
know it’s hard to get up every day and
do something and not see results and
want results so badly you know as
entrepreneurs we we want things that
happen yesterday we feel so motivated
such at the beginning to get this thing
going and change our lives and be our
own boss that it’s frustrating when the
results don’t come in quickly but the
reality is a lot of this stuff takes
time to build you know it takes time for
the awareness to get out there it takes
time for the only referral partners to
talk about you people to discover you
your website to take off it does take
time for things to happen and you need
to do something every day to make sure
that that business is growing and too
many entrepreneurs just quit too soon
you know you don’t you don’t see the
immediate results and so you give up and
what I would try to encourage you to do
is think about think about the value
that you’re trying to help think about
the people you’re trying to help and try
to channel that motivation into getting
up every day and doing something to help
them I know it’s tough you know I know
when you’re not seeing anything come
back and just trying to stick to that
vision it can be really hard but I found
that it does it did help me at least and
still does help me think about the
people you’re helping try to visualize
you have helped and the
real benefit that they’ve gotten by you
being in business and if you weren’t
there you know what would they have done
so that’s the first one and the second
part is think about the life that you
want to create and what you have to do
to get there you know if you keep doing
just the same thing back at your regular
old job are you going to create the
lifestyle that you want is that really
the life that you want to build the
being able to build in the next 10 20 30
40 50 years upendra how old you are you
know so if you’re if you’re able to
visualize the lifestyle that you want
and get frustrated enough to say you
know I have to change my situation from
you’ll be able to build that lifestyle
that can give you the motivation to get
up and and do the work even when nobody
else maybe believes in you and so I find
that to be very helpful so you got to do
something every day and not quit don’t
quit too soon which is a huge reason why
a lot of entrepreneurs fail so the first
part is getting to businesses you’re not
passionate excited about it the second
part is because you quit too soon and
the third reason I think why a lot of
entrepreneurs fails they don’t they
don’t stretch themselves enough to be
successful as an entrepreneur we’re all
limited right we all have our own
strengths and weaknesses and we’re all
really good at things and we all suck at
other things and to be a successful
entrepreneur you’re going to have to
push yourself beyond your comfort zones
you know in our comfort zones we tend to
do the things we like and we’re good at
and not necessarily the things we have
to do to grow our businesses and if you
want to achieve success you have to be
able to build that degree of discomfort
I guess and what you do to stretch
yourself and put yourself beyond what
you’re comfortable doing because you’re
going to have to do that be able to get
your company off the ground and up to
that next level success and when people
ask me even now what I feel is the
biggest hurdle in my business and what
keeps me up at night or what the biggest
problem is with my business is usually
limiting personal beliefs you know you
think you’re only so good and so that’s
how good you can become and if you think
you’re better you’ll rise to the
occasion and you’ll stretch yourself and
you push yourself to get to that next
step so it’s easy to get comfortable in
a certain position for some people it’s
making fifty thousand dollars a year
a hundred thousand dollars a year
whatever it is you get comfortable you
stop growing you stop pushing yourself
and and that’s fine you know if that’s
your goal that’s great if you want to
achieve more then you have to push
yourself more and so one of the biggest
things i think for growing entrepreneurs
and something is still to me it happens
all the time the biggest challenges
limiting personal beliefs so you only
think you’re so good and so that’s how
good you are you know if you think you
deserve better and you take the steps to
create a lifestyle that is where you
want to be then you’re going to get
there you know if you think you deserve
better and you really in your heart
believe that then you’ll you’ll get
better right you’ll you’ll get that
lifestyle if you don’t think you deserve
it or if you don’t you don’t think you
can get there then you won’t so limiting
person believes a huge issue um you know
we’re looking at what what beliefs might
be holding you back and I think every
time I’ve been able to grow my business
to the next step if I feel like I’ve
stagnated and then we’ve made a huge
leap forward it’s because I changed a
belief that i had about what my business
should be doing or what I should be
doing and just recognizing that belief
in changing it can make a humongous
difference in the growth of your
business so hopefully that helped
through uses why I think entrepreneurs
fail if you guys liked the video please
give it a thumbs up below makes me more
motivated to do these videos and I love
you were yet to think feel free to leave
a comment below if you like the video if
you didn’t and if you have a question
for your business I love be able to try
to answer it for you here on youtube so
please leave a comment below and I’ll
see you on the next episode
you
edition of ask Evan today Mason a
question from one of our newsletter
readers male khoa who wrote in asking
can you please give me some information
on why entrepreneurs fail great question
thank you for answer for asking it so
many entrepreneurs fail something like
eighty percent of entrepreneurs fail
within the first five years and there’s
a number of reason why that happens and
hopefully I can shed some light on it so
the first one is a lot of entrepreneurs
get into business for the wrong reason
so they get into mrs. just trying to
make money and that’s great we want to
make money but it shouldn’t be your main
reason for becoming an entrepreneur if
you look at any famous entrepreneur and
if you look on our website with the
largest collection of famous
entrepreneur stories these guys started
because they want to make a difference
they wanted to help people do want to
have an impact and it sounds may be very
fluffy but it’s true you know you got to
have a strong passion for what you’re
doing you got to really love the
business that you’re in because it’s so
hard it’s it’s brutally tough being an
entrepreneur and most people will give
up because they don’t love what they’re
doing and a lot of these entrepreneurs
the successful ones they would do what
they’re doing even if they weren’t
getting paid for because they love it so
much so that’s what you have to first of
all find something you love so much you
would do it to help people and you do it
even you weren’t getting paid for it
because you have that strong passion for
so if you haven’t found it yet don’t
settle you know keep looking for it
don’t give up on on having that great
business idea don’t just jump into
something because you think you’re going
to make a lot of money and typically
you’ll find that money will motivate you
only for so long when you don’t see the
results coming in and you really hate
what you’re doing every day you’re not
going to keep at it you know what it’s
too hard and so you’re going to quit so
step number one is finding something
you’re really strongly passionately in
the deepest part of your soul believe in
and you know you’re helping people
because that energizes you right when
you find people writing in to you saying
you change their life or thank you so
much for that that
information or that product of that
service it made a huge impact on me that
motivates you to keep going at least it
does for me and so it ends up giving you
the energy you need to get up every day
and do it all over again and so you
really want to love what you’re doing
and there’s going to be parts of running
the business that suck even as you grow
and build beyond yourself and have a
team to help you with some of the
admin’s stuff there’s still parts that
suck but hopefully it sucks less but as
you are able to grow your business and
build it more and more around the things
you’re really good at it really love
doing so I would say the number one
reason why entrepreneurs will fails
because they picked a business that
they’re not super passionate about and
they’re not helping people in so that’d
be the first place i would start the
next reason i would say a lot of
entrepreneurs fail is they quit too soon
they don’t allow momentum to build and
running the business is really hard you
know it’s hard to get up every day and
do something and not see results and
want results so badly you know as
entrepreneurs we we want things that
happen yesterday we feel so motivated
such at the beginning to get this thing
going and change our lives and be our
own boss that it’s frustrating when the
results don’t come in quickly but the
reality is a lot of this stuff takes
time to build you know it takes time for
the awareness to get out there it takes
time for the only referral partners to
talk about you people to discover you
your website to take off it does take
time for things to happen and you need
to do something every day to make sure
that that business is growing and too
many entrepreneurs just quit too soon
you know you don’t you don’t see the
immediate results and so you give up and
what I would try to encourage you to do
is think about think about the value
that you’re trying to help think about
the people you’re trying to help and try
to channel that motivation into getting
up every day and doing something to help
them I know it’s tough you know I know
when you’re not seeing anything come
back and just trying to stick to that
vision it can be really hard but I found
that it does it did help me at least and
still does help me think about the
people you’re helping try to visualize
you have helped and the
real benefit that they’ve gotten by you
being in business and if you weren’t
there you know what would they have done
so that’s the first one and the second
part is think about the life that you
want to create and what you have to do
to get there you know if you keep doing
just the same thing back at your regular
old job are you going to create the
lifestyle that you want is that really
the life that you want to build the
being able to build in the next 10 20 30
40 50 years upendra how old you are you
know so if you’re if you’re able to
visualize the lifestyle that you want
and get frustrated enough to say you
know I have to change my situation from
you’ll be able to build that lifestyle
that can give you the motivation to get
up and and do the work even when nobody
else maybe believes in you and so I find
that to be very helpful so you got to do
something every day and not quit don’t
quit too soon which is a huge reason why
a lot of entrepreneurs fail so the first
part is getting to businesses you’re not
passionate excited about it the second
part is because you quit too soon and
the third reason I think why a lot of
entrepreneurs fails they don’t they
don’t stretch themselves enough to be
successful as an entrepreneur we’re all
limited right we all have our own
strengths and weaknesses and we’re all
really good at things and we all suck at
other things and to be a successful
entrepreneur you’re going to have to
push yourself beyond your comfort zones
you know in our comfort zones we tend to
do the things we like and we’re good at
and not necessarily the things we have
to do to grow our businesses and if you
want to achieve success you have to be
able to build that degree of discomfort
I guess and what you do to stretch
yourself and put yourself beyond what
you’re comfortable doing because you’re
going to have to do that be able to get
your company off the ground and up to
that next level success and when people
ask me even now what I feel is the
biggest hurdle in my business and what
keeps me up at night or what the biggest
problem is with my business is usually
limiting personal beliefs you know you
think you’re only so good and so that’s
how good you can become and if you think
you’re better you’ll rise to the
occasion and you’ll stretch yourself and
you push yourself to get to that next
step so it’s easy to get comfortable in
a certain position for some people it’s
making fifty thousand dollars a year
a hundred thousand dollars a year
whatever it is you get comfortable you
stop growing you stop pushing yourself
and and that’s fine you know if that’s
your goal that’s great if you want to
achieve more then you have to push
yourself more and so one of the biggest
things i think for growing entrepreneurs
and something is still to me it happens
all the time the biggest challenges
limiting personal beliefs so you only
think you’re so good and so that’s how
good you are you know if you think you
deserve better and you take the steps to
create a lifestyle that is where you
want to be then you’re going to get
there you know if you think you deserve
better and you really in your heart
believe that then you’ll you’ll get
better right you’ll you’ll get that
lifestyle if you don’t think you deserve
it or if you don’t you don’t think you
can get there then you won’t so limiting
person believes a huge issue um you know
we’re looking at what what beliefs might
be holding you back and I think every
time I’ve been able to grow my business
to the next step if I feel like I’ve
stagnated and then we’ve made a huge
leap forward it’s because I changed a
belief that i had about what my business
should be doing or what I should be
doing and just recognizing that belief
in changing it can make a humongous
difference in the growth of your
business so hopefully that helped
through uses why I think entrepreneurs
fail if you guys liked the video please
give it a thumbs up below makes me more
motivated to do these videos and I love
you were yet to think feel free to leave
a comment below if you like the video if
you didn’t and if you have a question
for your business I love be able to try
to answer it for you here on youtube so
please leave a comment below and I’ll
see you on the next episode
you
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