9 Reasons Why Entrepreneurs Quit Before They Succeed

Have you ever wondered why someone who doesn’t seem particularly bright succeeds as an entrepreneur while others who seem very smart never get off the ground? There are certain things that successful people do that others don’t. Most of these elements are practical rather than theoretical.

They go for the customers first and foremost. Cash flow is essential for a business to prosper. Without cash, there is stress and frustration. It is more important to create a constant flow of green rather than trying to augment it through a third party. Don’t rely on the idea that investors will bail you out.

Reduce paperwork. Business plans are fine, but they do not guarantee income. The MBA theory that you need a 150 page business plan is just that. It’s just a theory. Create a one page laser focused plan and start finding immediate ways to sell.

Simplify tasks that do not generate income. Bill payment machine, for example. Set up folders on your computer to store files instead of letting them clutter up on your desktop. Spend money to delegate if it makes you more productive.

Don’t eat the elephant in one bite. Take it in steps. If you set goals that are clearly unattainable, you will constantly be disappointed. You may have a million-dollar idea, but if you’re looking at the big picture instead of working in sequence, you’ll feel overwhelmed and paralyzed.

Allow yourself to receive help when necessary. Often, as entrepreneurs, we try to do everything ourselves, even if we have no idea how to do it. A millionairess I know once said that she started making money when she finally allowed herself to ask for help. Find people who know things you don’t and blow their brains out.

Cut your overhead. Are you getting more than you’re bringing in? Many expenses are not necessary. Ask yourself: Do I need this or do I just want this? A fancy designed office does not generate income. Selling your product does. Work from home. Take the bus. Make your own coffee. Entrepreneurs often appear to be successful, but are actually bankrupt from unnecessary over-buying.

Don’t confuse your business. Keep your business and personal income and expenses separate. When you bankrupt your business, you are doomed to fail.

Be careful with exaggeration. There are thousands of business opportunities out there. Some are legit and some are clearly scams. Even legitimate operations consume money. What is your profit margin? Can you promote the same product as an affiliate, which is free, or are you spending money to make money, like you would at certain network marketing companies? Do you believe in your product and are you passionate about it? Do you have a viable market?

Keep the blinders on for the naysayers. A job will never earn you more than a business. It may take longer to see success, but if you stick with it and don’t get discouraged, it will be worth it.