13 Reasons Why Most Businesses Fail (Part 2)

Second part of Rick Sloboda’s “13 Reasons of Why Most Business Fail”


4. Being afraid to lose

Failure inspires winners, and failure defeats losers, wrote Rich Dad, Poor Dad author Robert Kiyosaki. He noted: “The greatest secret of winners is that failure inspires winning; thus, they’re not afraid of losing.” Kiyosaki explained there’s a big difference between hating losing and being afraid to lose. “The main reason over 90 per cent of the American public struggles financially is because they play not to lose,” he stated. “They don’t play to win.”

5. Fear of being judged

The fear of being judged, looking stupid, being wrong, failing or taking blame lurks just beneath the surface in the clever disguise of caution, claims marketing innovator Kay Allison, founder of Energy Infuser. And when you can’t put the full force of your enthusiasm and passion behind a new idea, she suggests that idea will be dead on arrival. “One thing I’ve learned is that whatever I focus on grows,” offered Kay. “So if I focus on the anxiety that gnaws in my belly, it gets so big that it’s paralyzing. On the other hand, if I focus on what my next appropriate action should be, it gets me into motion.”

6. Ignoring your gut instinct

Writer Malcolm Gladwell stated in his national best seller, Blink: “…if we are to learn to improve the quality of the decisions we make, we need to accept the mysterious nature of our snap judgments.” He went on to say, “We need to respect the fact that it is possible to know without knowing why we know and accept that — sometimes — we’re better off that way.”

7. “I can do it all” syndrome

If you don’t focus on your strengths and hire others to take care of the rest, you’re in trouble, says Mark Wardell, business author and Founder of Wardell Professional Development. “To be good at business does not mean you have to be good at everything,” he stated, suggesting business owners need to place more value on time. “When you invest your money, you expect it to return a profit,” explained Wardell. “Your time works the same way. When you invest rather than spend your time, its value increases dramatically.”

8. Pointing fingers

When you point a finger at someone, warns NFL coach Herm Edwards, three fingers always point back at you. “When you’re involved in something that fails or in something in which a mistake is made, more often than not, you’re to blame, too,” he wrote. “It’s just easier to blame the other guy, and this is a device that most people can see right through.” Before assigning blame, Edwards says it’s always best to ask yourself what you could have done differently yourself that might have avoided the error or mistake in the first place.