hello belief nation today we’re going to
talk about the seven signs that your
company is going under so most
entrepreneurs fail if you look at any of
the stats about entrepreneurship you’ll
see that most companies that start never
succeed they never get really that
traction momentum that they need and so
I really want you to be on the other
side of that I want you to have success
I want you to turn that idea that you
have and make it something amazing
fantastic that makes you a lot of money
has a big impact on the world and
hopefully you can avoid these seven
things and make sure that your company
is on the fast track to success so the
number one sign that your company is
going under is that there’s nothing
unique about you you have to have a
point of differentiation you have to be
doing something different otherwise
you’re not gonna stand out if I can buy
from any company why would I pick you
now maybe I’m your friend and maybe I
know you and like you and so they know
there’s an easy way in there but how are
you gonna move beyond your circle of
friends what’s different about you
a lot of people a lot of entrepreneurs
starting up they don’t have anything
that’s different and so when you’re
competing against people in an industry
that have a track record have a history
have a reputation why would I ever buy
from you and what ends up happening is
people end up cutting down their prices
and will touching a little bit later but
that’s the last thing that you want to
do so you need to figure out how can I
charge more why can’t I charge the same
amount or more as my competition and get
people to come to me because I am
different and at the start of a business
maybe you’re emulating people maybe
you’re just copying what other people
are doing and that’s your first entry in
but you’ll never have the big success if
all you’re doing is copying somebody
else you’ll never have the big success
just being a cover band right at some
point you have to figure out your style
come up with unique music and put it out
there covering songs is a great way to
launch your career but if you want
sustainability you want to do something
amazing then you have to put your own
stamp on it so you need to find
something unique
about the way you do business the
product you sell the service and you
offer something has to be unique and
different the number to sign that your
company is going under is that your
customers aren’t coming back this is one
of the most important metrics to look at
for a company how much do your customers
come back and use your product or
service again and again and again so
many people are so focused on how do I
get new people in the door right
marketing marketing market how are you
get more people coming in how do I get
more people to hear about my name where
the people that you do have they don’t
love your stuff where any entrepreneur
if you want to have success you need
word-of-mouth marketing to happen for
you you need it you don’t have budget
you’re not gonna go out and buy a
Superbowl commercial right you don’t
have tons of ad dollars burning a hole
in your pocket you can’t see my pocket
burning a hole in your pocket right
you’ve got to go out there and create
something that people want to talk about
and if your customers are not using it
consistently then before you worry this
again I get this a lot like people want
to start apps right before you worry
about getting more people to use your
app worry about the people who have
already downloaded it and have them come
back to it in a month right that person
how do you get them to use it every
single day that’s what’s important and
you may not be in the business but they
can use it every day you know if you’re
a real estate agent or you’re you know
you’re selling insurance it’s not
something that they’re gonna buy every
day a new house right but are you
getting people coming back are you
getting people talking about you are you
getting momentum from your current
customers you’re not doing a bad job
it’s not something that they hate you’re
not making water and selling them in it
and it tastes like crap right it’s not
like really eggy water or whatever but
you’re not giving them that but it’s not
great either it’s just okay and if you
want to stand out if you want them to
come back consistently you want them to
tell their friends about you then you
have to go the next step you got to give
them such a good experience such a great
product such a great service that it
breaks through the clutter and the noise
that they want to go and tell their
friends about you how do you create such
an amazing product or service or
experience that every time they leave
you your product whatever it is they
want to go tell somebody about what you
doing that’s what you need to get to
that’s what you need to work on so
number three sign that your company is
going under is tied to it you’re not
getting referrals you’re not getting
enough referrals you’re not getting
enough people spreading the message for
you and so it starts with providing that
amazing experience for rating amazing
product amazing service right but then
are your customers walking away from you
insane
I can’t wait to go tell my friends about
this because there are some that I talk
about right think think about your own
experience think about the last
companies that you recommended what was
so good about them think about all the
parts or services that you have bought
over the past let’s say month how many
of them have you passed on to friends or
if you’re in a live chat or if you’re
out of meeting or if you overhear
somebody at a coffee shop how many of
them have you of those people that you
bought from in the past month then
referred on to somebody else
probably a really small portion and it’s
not that those other products sucked
it’s just they didn’t wanna they didn’t
break three because you’re your busy
person but understand that your
customers and the people around you have
opportunities every single day every
single day to refer you business they’re
meeting other people your customers are
meeting other people every single day
and they could be referring you but
they’re not and it’s not just asking for
a referral I want them to want to tell
their friends about me so you’re not
doing a good enough job and creating
such an amazing experience that they
want to share it you gotta step up your
game the number four sign that your
company is going under is that you don’t
charge what you’re worth so many
entrepreneurs is under charge so many
entrepreneurs feel like they’re not
valuable enough that they can’t go out
and charge that amount of money that
they’re not worth it they can’t justify
it they don’t know how they feel bad
that they have to charge a client more
money and the thing is unless you get to
that point lists are charging what
you’re worth you’re never going to be
able to do anything
big right you’re always gonna be
struggling on your own trying to build
this thing up but maybe it never even
becomes a full-time job for you because
you keep undercutting yourself you don’t
believe that you’re worth more money
there are some people who charge too
much and they’re not worth it right you
know you think you’re worth so much but
then you can’t you provide that value to
your client but it’s that’s a more rare
situation much more common is the
entrepreneur who can provide a ton of
value and charges a way to cheaper price
and it comes back to the first point
about finding something unique about
yourself if I can’t tell the difference
between you and a competitor Who am I
going to choose you who may just started
this company that I know nothing about
or your competitor who has a track
record in history and customers and
testimonials and media you know of
course they’re gonna go with the
competition unless you charge less if
you’re the same price and I can’t tell
the difference then I’m gonna go with
the one that has reputation unless
somebody is charging way less and makes
me think okay am I gonna pay a 30%
premium for that reputation maybe maybe
not
so your job is to raise your prices so
that you’re at the same level if you can
provide the same value or more if you
can provide more value and explain to me
how you’re different a lot of
entrepreneurs do a terrible job of it
and it and the reason they go on there
isn’t that they didn’t have a great
product or service they couldn’t
communicate it well they couldn’t pass
on that belief and passion they have for
to others and I go to your website and
it looks like every other website and so
I’m not gonna I’m not gonna sign up with
you give me a reason
the number five sign that your company
is going down there is you blame and
complain blaming and complaining are the
qualities of losers who never make it
people who lose blame and complain
they’ll never get there because what you
do when you blame somebody else or
complain about something is you push the
responsibility it’s not my fault that I
lost
it’s that guy’s fault it’s the
government’s fault it’s the it’s the
president’s fault you know it’s the
competition’s fault oh if it was set up
like this I would have I would have won
as long as you tell yourself that you’re
never gonna win you will never win your
company will always fail and you don’t
want to hang around other people who are
blaming and complaining because that
seeps into you take responsibility for
the situation you’re in for the results
that happen and for your life it’s
nobody’s fault but your own now maybe if
you’re super young
you know maybe through your childhood
and you know early teens okay you know
you’re depending on your parents to kind
of raise you but once you’re an adult
you know you can’t keep blaming your
parents for everything that’s wrong in
your life maybe they loved you maybe
they didn’t maybe they set you up maybe
they didn’t it doesn’t matter you know
at some point this is your life you need
to take charge it’s nobody else’s fault
and when you start accepting that
responsibility when it sucks what it’s
like man that you know it was so easy
when I could blame somebody else now
it’s on me but – it’s incredibly
powerful because recognizing that it’s
your fault
also means that it’s you have the
control to change it you can go off in
that direction you can fix it you can
solve the problem and so stop blaming
and complaining don’t hire anybody who
blames and complains stop hanging around
people who blame and complain you don’t
want that in your environment you’re
responsible for your own life you’re
responsible for making it great then you
can
the number six sign that your company is
going on there is that you don’t have
momentum you need momentum you need to
do something consistently one of the
biggest reasons why the companies fail
and shutdown is that they just lost
momentum for what they were doing is
that you have this great idea but it
just it stays here and you take a little
bit of action and then you pull back and
life gets in the way and you find some
excuse and whatever and then the next
week or the next month you do a little
bit more I think I can never get it
going you got to put the momentum in you
need time every single day to work on
this thing work on this dream that you
have to turn it into something that’s
just not stuck in your head but it’s out
there in the world having an impact
touching people’s lives it’s important
the big things in life you have to
schedule in and make time for and so 30
to 60 minutes every single day working
on your big picture working on your big
dream taking some kind of action some
kind of momentum you need to build the
momentum because it’s so hard to get
back on the horse afterwards too if
you’re working really hard for a week
and you know you start getting a little
bit of interest and then you stop
getting back to where you were is hard
it’s so much easier to do it
consistently like if you’re working out
and you stop working out for a month and
and get back to it
it’s a lot harder the muscles are
hurting like oh I was I was making way
more progress than I am right now you
have to put it in daily stop making
excuses put in your calendar make it
important 30 to 60 minutes every single
day on your big picture and the number
seven last sign that your company is
going on there is that you’ve lost a
passion for your business or you never
actually even had it in the first place
a lot of people start the business for
the wrong reasons they just see an
opportunity to make money somebody tells
them they’re gonna be rich doing this
thing they read an article on a magazine
or website and say I’m gonna go into
that I’m gonna go in the real estate or
I’m gonna go in the Forex or I’m gonna
go and launch my own bakery or whatever
it is all of those things can’t make
money but you have to love it so most
people go in I would say most people go
into making a going into being
entrepreneur
with the wrong intention they’re just
trying to make money because that’s her
only goal they don’t enjoy the process
as soon as life starts to get hard they
stop they quit they move on and you
should you should don’t stay in the
business that you don’t love don’t be in
a relationship that you don’t love why
would you want to spend the rest of your
life doing this if you don’t love it
it’s crazy but also common is
entrepreneurs who start something for a
reason for a passion and then they lose
it they just they don’t like it anymore
they move on and you kind of check out
and you start the coast start to tinker
in other opportunities you start to say
how do I make this passive income for
myself I’ll just make this business
passive and I’ll go off and do something
else it’s gonna happen if you don’t love
the business if you’ve lost the love for
your company then you have two options
one sell it to somebody else right now
while there’s still some momentum and
still some value because it’s gonna be
worth a lot less in three years or in
five years or two just shut it down and
go do something else
maybe that’s over a period of a year
where you’re you don’t know what you’re
gonna do next so you have a little bit
of income coming in here you’re gonna
move on start exploring but if you just
let the company struggle along I’m
thinking it’s gonna be this passive side
thing for you it’s going to go under and
if you lost a passion for your business
or never had in the first place then
that’s okay recognize that it’s a great
step that awareness is amazing
go off and do something else that makes
you come alive because when you are
alive when you are passionate about
something you get so much more work done
you’re so much more productive you’re so
much more creative you’re so much more
valuable you feel so much better you
create so much more amazing things that
that’s where you want to live
so stop waste your time on this crap
that you hate support so those are my
seven signs that your company is going
under I love to know what did you think
what point do you resonate most with am
I missing an 8 9 and 10 that you want to
add to the list leave in the comments
below I’m gonna join in the discussion
thank you guys so much for watching I
believe in you I hope
continue to believe in yourself and
whatever your one word is much love I’ll
see you soon
talk about the seven signs that your
company is going under so most
entrepreneurs fail if you look at any of
the stats about entrepreneurship you’ll
see that most companies that start never
succeed they never get really that
traction momentum that they need and so
I really want you to be on the other
side of that I want you to have success
I want you to turn that idea that you
have and make it something amazing
fantastic that makes you a lot of money
has a big impact on the world and
hopefully you can avoid these seven
things and make sure that your company
is on the fast track to success so the
number one sign that your company is
going under is that there’s nothing
unique about you you have to have a
point of differentiation you have to be
doing something different otherwise
you’re not gonna stand out if I can buy
from any company why would I pick you
now maybe I’m your friend and maybe I
know you and like you and so they know
there’s an easy way in there but how are
you gonna move beyond your circle of
friends what’s different about you
a lot of people a lot of entrepreneurs
starting up they don’t have anything
that’s different and so when you’re
competing against people in an industry
that have a track record have a history
have a reputation why would I ever buy
from you and what ends up happening is
people end up cutting down their prices
and will touching a little bit later but
that’s the last thing that you want to
do so you need to figure out how can I
charge more why can’t I charge the same
amount or more as my competition and get
people to come to me because I am
different and at the start of a business
maybe you’re emulating people maybe
you’re just copying what other people
are doing and that’s your first entry in
but you’ll never have the big success if
all you’re doing is copying somebody
else you’ll never have the big success
just being a cover band right at some
point you have to figure out your style
come up with unique music and put it out
there covering songs is a great way to
launch your career but if you want
sustainability you want to do something
amazing then you have to put your own
stamp on it so you need to find
something unique
about the way you do business the
product you sell the service and you
offer something has to be unique and
different the number to sign that your
company is going under is that your
customers aren’t coming back this is one
of the most important metrics to look at
for a company how much do your customers
come back and use your product or
service again and again and again so
many people are so focused on how do I
get new people in the door right
marketing marketing market how are you
get more people coming in how do I get
more people to hear about my name where
the people that you do have they don’t
love your stuff where any entrepreneur
if you want to have success you need
word-of-mouth marketing to happen for
you you need it you don’t have budget
you’re not gonna go out and buy a
Superbowl commercial right you don’t
have tons of ad dollars burning a hole
in your pocket you can’t see my pocket
burning a hole in your pocket right
you’ve got to go out there and create
something that people want to talk about
and if your customers are not using it
consistently then before you worry this
again I get this a lot like people want
to start apps right before you worry
about getting more people to use your
app worry about the people who have
already downloaded it and have them come
back to it in a month right that person
how do you get them to use it every
single day that’s what’s important and
you may not be in the business but they
can use it every day you know if you’re
a real estate agent or you’re you know
you’re selling insurance it’s not
something that they’re gonna buy every
day a new house right but are you
getting people coming back are you
getting people talking about you are you
getting momentum from your current
customers you’re not doing a bad job
it’s not something that they hate you’re
not making water and selling them in it
and it tastes like crap right it’s not
like really eggy water or whatever but
you’re not giving them that but it’s not
great either it’s just okay and if you
want to stand out if you want them to
come back consistently you want them to
tell their friends about you then you
have to go the next step you got to give
them such a good experience such a great
product such a great service that it
breaks through the clutter and the noise
that they want to go and tell their
friends about you how do you create such
an amazing product or service or
experience that every time they leave
you your product whatever it is they
want to go tell somebody about what you
doing that’s what you need to get to
that’s what you need to work on so
number three sign that your company is
going under is tied to it you’re not
getting referrals you’re not getting
enough referrals you’re not getting
enough people spreading the message for
you and so it starts with providing that
amazing experience for rating amazing
product amazing service right but then
are your customers walking away from you
insane
I can’t wait to go tell my friends about
this because there are some that I talk
about right think think about your own
experience think about the last
companies that you recommended what was
so good about them think about all the
parts or services that you have bought
over the past let’s say month how many
of them have you passed on to friends or
if you’re in a live chat or if you’re
out of meeting or if you overhear
somebody at a coffee shop how many of
them have you of those people that you
bought from in the past month then
referred on to somebody else
probably a really small portion and it’s
not that those other products sucked
it’s just they didn’t wanna they didn’t
break three because you’re your busy
person but understand that your
customers and the people around you have
opportunities every single day every
single day to refer you business they’re
meeting other people your customers are
meeting other people every single day
and they could be referring you but
they’re not and it’s not just asking for
a referral I want them to want to tell
their friends about me so you’re not
doing a good enough job and creating
such an amazing experience that they
want to share it you gotta step up your
game the number four sign that your
company is going under is that you don’t
charge what you’re worth so many
entrepreneurs is under charge so many
entrepreneurs feel like they’re not
valuable enough that they can’t go out
and charge that amount of money that
they’re not worth it they can’t justify
it they don’t know how they feel bad
that they have to charge a client more
money and the thing is unless you get to
that point lists are charging what
you’re worth you’re never going to be
able to do anything
big right you’re always gonna be
struggling on your own trying to build
this thing up but maybe it never even
becomes a full-time job for you because
you keep undercutting yourself you don’t
believe that you’re worth more money
there are some people who charge too
much and they’re not worth it right you
know you think you’re worth so much but
then you can’t you provide that value to
your client but it’s that’s a more rare
situation much more common is the
entrepreneur who can provide a ton of
value and charges a way to cheaper price
and it comes back to the first point
about finding something unique about
yourself if I can’t tell the difference
between you and a competitor Who am I
going to choose you who may just started
this company that I know nothing about
or your competitor who has a track
record in history and customers and
testimonials and media you know of
course they’re gonna go with the
competition unless you charge less if
you’re the same price and I can’t tell
the difference then I’m gonna go with
the one that has reputation unless
somebody is charging way less and makes
me think okay am I gonna pay a 30%
premium for that reputation maybe maybe
not
so your job is to raise your prices so
that you’re at the same level if you can
provide the same value or more if you
can provide more value and explain to me
how you’re different a lot of
entrepreneurs do a terrible job of it
and it and the reason they go on there
isn’t that they didn’t have a great
product or service they couldn’t
communicate it well they couldn’t pass
on that belief and passion they have for
to others and I go to your website and
it looks like every other website and so
I’m not gonna I’m not gonna sign up with
you give me a reason
the number five sign that your company
is going down there is you blame and
complain blaming and complaining are the
qualities of losers who never make it
people who lose blame and complain
they’ll never get there because what you
do when you blame somebody else or
complain about something is you push the
responsibility it’s not my fault that I
lost
it’s that guy’s fault it’s the
government’s fault it’s the it’s the
president’s fault you know it’s the
competition’s fault oh if it was set up
like this I would have I would have won
as long as you tell yourself that you’re
never gonna win you will never win your
company will always fail and you don’t
want to hang around other people who are
blaming and complaining because that
seeps into you take responsibility for
the situation you’re in for the results
that happen and for your life it’s
nobody’s fault but your own now maybe if
you’re super young
you know maybe through your childhood
and you know early teens okay you know
you’re depending on your parents to kind
of raise you but once you’re an adult
you know you can’t keep blaming your
parents for everything that’s wrong in
your life maybe they loved you maybe
they didn’t maybe they set you up maybe
they didn’t it doesn’t matter you know
at some point this is your life you need
to take charge it’s nobody else’s fault
and when you start accepting that
responsibility when it sucks what it’s
like man that you know it was so easy
when I could blame somebody else now
it’s on me but – it’s incredibly
powerful because recognizing that it’s
your fault
also means that it’s you have the
control to change it you can go off in
that direction you can fix it you can
solve the problem and so stop blaming
and complaining don’t hire anybody who
blames and complains stop hanging around
people who blame and complain you don’t
want that in your environment you’re
responsible for your own life you’re
responsible for making it great then you
can
the number six sign that your company is
going on there is that you don’t have
momentum you need momentum you need to
do something consistently one of the
biggest reasons why the companies fail
and shutdown is that they just lost
momentum for what they were doing is
that you have this great idea but it
just it stays here and you take a little
bit of action and then you pull back and
life gets in the way and you find some
excuse and whatever and then the next
week or the next month you do a little
bit more I think I can never get it
going you got to put the momentum in you
need time every single day to work on
this thing work on this dream that you
have to turn it into something that’s
just not stuck in your head but it’s out
there in the world having an impact
touching people’s lives it’s important
the big things in life you have to
schedule in and make time for and so 30
to 60 minutes every single day working
on your big picture working on your big
dream taking some kind of action some
kind of momentum you need to build the
momentum because it’s so hard to get
back on the horse afterwards too if
you’re working really hard for a week
and you know you start getting a little
bit of interest and then you stop
getting back to where you were is hard
it’s so much easier to do it
consistently like if you’re working out
and you stop working out for a month and
and get back to it
it’s a lot harder the muscles are
hurting like oh I was I was making way
more progress than I am right now you
have to put it in daily stop making
excuses put in your calendar make it
important 30 to 60 minutes every single
day on your big picture and the number
seven last sign that your company is
going on there is that you’ve lost a
passion for your business or you never
actually even had it in the first place
a lot of people start the business for
the wrong reasons they just see an
opportunity to make money somebody tells
them they’re gonna be rich doing this
thing they read an article on a magazine
or website and say I’m gonna go into
that I’m gonna go in the real estate or
I’m gonna go in the Forex or I’m gonna
go and launch my own bakery or whatever
it is all of those things can’t make
money but you have to love it so most
people go in I would say most people go
into making a going into being
entrepreneur
with the wrong intention they’re just
trying to make money because that’s her
only goal they don’t enjoy the process
as soon as life starts to get hard they
stop they quit they move on and you
should you should don’t stay in the
business that you don’t love don’t be in
a relationship that you don’t love why
would you want to spend the rest of your
life doing this if you don’t love it
it’s crazy but also common is
entrepreneurs who start something for a
reason for a passion and then they lose
it they just they don’t like it anymore
they move on and you kind of check out
and you start the coast start to tinker
in other opportunities you start to say
how do I make this passive income for
myself I’ll just make this business
passive and I’ll go off and do something
else it’s gonna happen if you don’t love
the business if you’ve lost the love for
your company then you have two options
one sell it to somebody else right now
while there’s still some momentum and
still some value because it’s gonna be
worth a lot less in three years or in
five years or two just shut it down and
go do something else
maybe that’s over a period of a year
where you’re you don’t know what you’re
gonna do next so you have a little bit
of income coming in here you’re gonna
move on start exploring but if you just
let the company struggle along I’m
thinking it’s gonna be this passive side
thing for you it’s going to go under and
if you lost a passion for your business
or never had in the first place then
that’s okay recognize that it’s a great
step that awareness is amazing
go off and do something else that makes
you come alive because when you are
alive when you are passionate about
something you get so much more work done
you’re so much more productive you’re so
much more creative you’re so much more
valuable you feel so much better you
create so much more amazing things that
that’s where you want to live
so stop waste your time on this crap
that you hate support so those are my
seven signs that your company is going
under I love to know what did you think
what point do you resonate most with am
I missing an 8 9 and 10 that you want to
add to the list leave in the comments
below I’m gonna join in the discussion
thank you guys so much for watching I
believe in you I hope
continue to believe in yourself and
whatever your one word is much love I’ll
see you soon
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