Why new businesses & business owners fail

If you're interested in learning how to succeed when starting your own business, then this might be the most important article you'll ever read.

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I believe most of us have psychological mechanisms that literally prevent us from understanding and succeeding with business and money — and that prevent us from making decisions that even lead to success.

How do I know this?

Just look around you at how many people get to retirement age and are either broke, dependent on others or even worse they have to keep working for the rest of their life just for basic survival.

Many of the predictions and estimates are that Social Security will be bankrupt in the coming decades and the numbers really speak for themselves

What we humans are wired for is to survive on the savannah in Africa, not in an office in a city dealing with bank accounts and credit cards and interest rates and late fees in the complexity of modern life.

We came from an environment where survival was about living in the moment.

It wasn’t about controlling yourself and saving for the future and choosing a good business model or business and learning all the things that we need to learn about business and writing marketing advertisements.

Experiment after experiment shows that we're wired to make bad decisions when it comes to dealing with something as intangible as money and as intangible as risk and all of the other factors that we face when we're starting in growing a business.

I really think that the underlying fact that we're not wired to live in our current environment is a key obstacle to the success that we'd all like to achieve.

We can’t depend on the idea that you can go to work for a company, work there all your life and then retire in security.

Things are changing at a rapid pace.

Companies are constantly changing, restructuring, and entire industries are disappearing before our eyes.

This idea of working somewhere for your entire life and retiring in security is disappearing very fast.

On the other side of the coin...

The internet has created business models and opportunities that allow people like you and me to start businesses with just a computer and an internet connection and become our own bosses to take control of our own lives.

I honestly believe there has never been a time in history where the playing field was more level where the opportunity is more available for anyone willing to take them.

There's never been a better time than now.

Just by the fact that you're reading this letter makes it obvious that you are interested in learning how to start your business online.

Before I share with you the quickest way to start and build your own business. It is important you get a “leg up” and know...

Here's my opinion about the key reasons why new businesses fail and why new business owners fail

Reason #1 — Not Understanding Business

Understanding business is like understanding anything else. It's like understanding reading or math or music. If you don’t understand it, you can’t do it very well.

So many of us have interacted with businesses and worked for businesses that we mistakenly assume that we get it that we understand, which is something that humans do and we blindly go into business confidently thinking that we get it and then often wind up costing ourselves a lot of money.

It's usually a lot of our money and sometimes the money of our loved ones and causes a lot of wasted time.

Reason #2 — Choosing The Wrong Business Model

They start a business that probably wasn’t going to go work in the first place — they choose the wrong business model.

Businesses aren't like jobs.

You don’t just get one then start making money the first day.

People are not going to pay you money for what you're selling just because the business sounded like a good idea to you.

If you're going to start a business, it is crucial, it is critical that you choose a business that’s likely to work.

This requires knowing which businesses are likely to work and which are not and then choosing a business that’s likely to work, not just a business that sounded like a good idea to you.

Reason #3 — Spending Time The Wrong Way

Managing your time and yourself when you start a business is a critical element.

When you start a business, you're going to have an infinite number of things competing for your attention, things coming from every direction, but there are only a few things you do in a business that make money.

We humans are easily being distracted and we're very poor at keeping ourselves on task. If you don’t know exactly which activities result in sales and money, then you're about as likely to find them as a blind squirrel is to find an acorn in the forest.

Reason #4 — Quitting Before Getting Any Momentum

The ability to stay on track long term this is the steel that separates the successful from the unsuccessful.

Jim Collins, the bestselling author of very famous books, like Built to Last and Good to Great, talks about a concept that he calls the flywheel and how you have to get the big flywheel in your business going.

You’ve got to push it until you get it up to a speed that gains momentum and then it literally pulls you to the next level of success.

If you don’t have the ability to keep yourself on track so you get momentum, then essentially nothing can help you.

In conclusion, if you believed somehow you might ended up either one of the above 4 reasons then perhaps is time to get yourself a business or entrepreneur coach that specialized in helping you to Thrive in Your Business & Actualize in Life at the same time.

Get in touch with us for further information on how to get you where you want to be, HERE

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