#1. You are still learning
One of the top reasons why entrepreneurs who are just starting out or are fresh to the idea are not successful is because they haven’t even started. They are still in the learning stage. Learning is a great way to make millions but if you never stop learning, then you will never start. Taking that leap of faith into the unknown is where you have to start.
#2 Believe in yourself
If you don’t believe in yourself, then you will never make it far. Feeling like you can’t chase your dream because you are afraid of the mockery that may follow will surely only push you back into your hole. That gut feeling that is telling you that you can’t do it because you don’t know enough will always stop you from advancing with your dreams. You need to be confident in the fact that you can do it, you simply have to start. Don’t let anything stand in your way.
#3 You are too naïve
Keeping up with the latest trends can be a daunting task but, imagine your grandpa trying to connect with the younger generation without social media. It would be almost impossible. Not staying up with the latest trends can become a costly mistake. This also plays in to not paying attention to patterns. Following patterns is a way to understand trends, where they are going, and what your possible customers really want. Social media plays a huge role in manipulating patterns in today’s world. This is why it is important to stay up to date in the social media world.
#4 You’re not motivated
Many successful entrepreneurs start out at the bottom of the social ladder. This is what motivates them to try and climb higher. You need a motivator to continue pushing you through the times of frustration and doubt that everyone gets. Becoming an entrepreneur is taking the path less traveled after all. If you lack the motivation to push through something that you have never done before then you will simply never get anywhere.
#5 You have given up
Maybe you have been at this entrepreneur thing for a while and you have several failures under your belt. Now you have a lack of motivation and a bad attitude about being an entrepreneur. Most entrepreneurs have at least one failure at some point in their career. Your failure shouldn’t be your reason for giving up. It should be your reason for wanting more. Failures are a big part of how some entrepreneurs became successful entrepreneurs. These failures help us learn what not to do next time, if we are willing to learn from our mistakes.
#6 You don’t know where to start
If your new to entrepreneurship, then maybe your still stuck on where to start. The frustration with figuring out what type of business and how to start it can be extremely daunting. But, as I said before, just start. Think about things you enjoy doing and are good at. You do not want your business to be a job. When your business becomes a job, it then is not enjoyable and therefore will show in your finished products. After all a job simply stands for Just Over Broke.
#7 You’re afraid of failure
The biggest obstacle for most entrepreneurs that are starting out is the feeling of possible failure. The first thing you need to understand is that it is ok to fail. Failure lets us learn from our mistakes. By now you should realize that even the best entrepreneurs didn’t get to where they are without failures of their own. The best way to combat possible failure is to learn from other entrepreneur’s failures. Learning from them is much easier than learning from our own failures.
#8 “You have no money”
A common problem for startups is the cost that it takes to start a company or launch a product. Sure, there are times that finding an investor might not be a bad idea. However, there are better ways of starting your business. The best way is to simply save your money. This way no matter if your business succeeds or fails, you will not be in debt to anyone. Having no money is a common excuse for those starting out. It becomes just another reason against why you should not become an entrepreneur.
#9 You’re not out hustling everyone
When trying to build your company, there is one thing that will set you apart from your competition the most. Out hustling or working harder than everyone else. Out working everyone will help start building a name for you and your business. You need to realize that your competition is working hard to eliminate you and you need to be working harder than anyone else to eliminate them. You are not going to be able to do this without a lot of well, hard work. The harder you work or hustle, the better of a chance you have of gaining your competition’s customers.
#10 The price isn’t right
Setting the right prices for your products is crucial to the success of your business. Owners that set them to high do not get very many customers as they either have found it cheaper other places or no one can simply afford it. For those owners who set their price too low, they simply have too many customers and a hard time paying for their overhead. Finding the right price where everyone is happy is crucial and depends on where you are located, what kind of market you are in, and what type of product you have. Its been said that setting your prices where a small portion of people complain about the cost is where you need to be.
Some of you may be thinking how obvious some of these are but, they can be easy to lose sight of in the midst of trying to start your own business. These steps do not guarantee your success but, are simply tips along the path to success.