By Tito Philips, Jnr.

Why do Most Entrepreneurs Fail in Business?

Entrepreneurship is a way of life that offers unlimited possibilities to those who truly believe in it and live by it. But at the same time, entrepreneurship is a way of life that can totally alter the course of your life if misunderstood. Entrepreneurship is not something you can fake your way through; you are either doing it right or not doing it right simple. There are no ways around it.

To help you better make that choice, here are 7 Indicators of entrepreneurs who are headed for doom. As you go through the list, be sincere to yourself and tick each of the signs currently present in your entrepreneurial life. The purpose of this article is not to scare you or condemn you, but rather to alert you and help you retrace your steps back in the right direction before your entrepreneurial journey goes up in flames!

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By Tito Philips, Jnr.

Are you a lazy entrepreneur?

Are you a lazy entrepreneur?

I’m absolutely sure you wouldn’t answer YES to that question yet majority of we entrepreneurs exemplify various forms of laziness in our entrepreneurial journey more times than we would like to come to terms with. So much emotional sentiments have been attached to the word ‘entrepreneurship’ or ‘entrepreneur’ top on the list is the passionate feeling of being your own BOSS. This and many more has subtly turned we entrepreneurs into some sort of “hero” in our own fantasy world of risk taking adventures. The idea of being lazy will totally seem like an insult to our entrepreneurial personality; for crying out loud, we dare what others don’t, right?

The truth is we entrepreneurs are more susceptible to laziness in more ways than the average person in the world. The very fact that we are on a mission to create change through whatever business we’ve chosen to venture into calls for more discipline and hard work many of us are having a hard time coping with. Consider the following quote I came up with while trying to examine this subject of laziness in my life as an entrepreneur;

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Why did you become an entrepreneur?

By Tito Philips, Jnr.

Are you really an entrepreneur; a person who takes risks to create change? Or are you just one of those multitudes who hide under the title of an ‘entrepreneur’ to make ends meet?
So much fuss about entrepreneurship, yet so little impact. Why? Because many people going about with the title of an entrepreneur are not really in it to create change (significance); they are in it to make a living (survival). And when survival is the FOCUS, then mediocrity becomes the OUTCOME. What we see are a bunch of businesses offering inferior goods and services yet charging exorbitant prices at the very expense of their stakeholders; customers, employees, suppliers and society in general. Their singular focus is on what they will get (profit) rather than on what they will give (value). If you went into business or your reason for starting a business is to make a living (survive), I suggest you re-evaluate your options and go back to the drawing board again.

Going into business simply because you want to make money (profit) is far too much a price to pay as an entrepreneur. I mean isn’t that what employees do; working nine-to-five in order to make ends meet? Why in the world would you choose to become an entrepreneur (be your own BOSS) just because you want to make a living when there is already a far more easy alternative for that –employment. If you are so much in need of money in order to make a living (survive), please go get a job and stop wasting your precious time posing as an entrepreneur!

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By Tito Philips, Jnr.

How is your business helping someone?

Never before in the history of humanity have there been a time as this when the whole world seems to be realizing

What Problem is your business solving for someone?

finally, the very intent and purpose for creation – collaboration. The stiff competition that often characterized the industrial age is gradually giving way to this new age where passion thrives and information rules. Businesses are beginning to awaken to the fact that unless there’s something SIGNIFICANTLY unusual about their business, there’s no way they are going to remain relevant. It is increasingly becoming obvious, that the businesses that will thrive in this new age are those who are consistently willing to touch a heart before asking for a hand – being helpful.

No longer will the market tolerate businesses that are out to get before giving, no longer will the market tolerate businesses that are not different and making a difference, no longer will the market tolerate businesses that are not unique and being useful, no longer will the market tolerate businesses that don’t stand for something, no longer will the market tolerate businesses that are not contributing to the success of their customers.

In this new age, the law of exchange which states that; ‘to get, you must first give’ is the standard on which every business that aspires to grow must be built. Every site I visit is now giving away something, mostly an eBook in exchange for my email. Everyone is sharing something, whether it’s a link on Twitter, a video on Youtube or a picture on Facebook. The whole world seems to be in the business of helping someone. To thrive in this new age, being Helpful must become your new business model. Woven under the very fabric of your business must be a strong desire to help. Your business must be built on the principle of helping someone accomplish a particular goal or objective as a result of coming in contact with the product or service your business offers.

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By Tito Philips, Jnr.

What must you focus on to get the most from your business?

The life of an entrepreneur is one heck of a life, wouldn’t you agree? From the incessant quest to make a significant contribution through the creation of innovative products/services, to the ever present fear of failing. The entrepreneurial life is very overwhelming, more like joggling too many balls in the air. In a rather funny way, the odds always seem to stack up against we entrepreneurs. What then shall we do; give up our entrepreneurial quest and settle for less? Or march on courageously despite seemingly insurmountable obstacles? I’m sure you would most likely agree with me that the second option is our surest bet as entrepreneurs and the very essence of the entrepreneurial spirit. You did not choose to become an entrepreneur because the journey is easy, NO. You chose to become an entrepreneur because the journey is worth it. Entrepreneurship is not something you can fake your way through; you are either doing it right or not doing it right simple. There are no ways around it.

So are you still on the right path as an entrepreneur?

It’s because of this singular reason that I offer the following 5 ways to simplify your life as an entrepreneur and help you get more from your business by doing less.

Enjoy!

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