Read, study and digest this list and with you in mind, evaluate which one or more of these causes for failure could become a barrier between you and success.
1. Lack of a Positive and Well Defined Purpose for Your Business Idea.
Success will elude all who do not have a high primary purpose, idea or goal at which to aim. With evaluation and desire, you'll arrive at a decision knowing exactly what that goal is or isn't. Lacking a fixed goal is one of the major causes in over 90% of all failures.
2. The Lack of Ambition to Rise Above Mediocrity
How much hope is there for a person who doesn't care whether he improves his lot in life? Either that person is lazy, fears or is naive. The requirement is to elevate one's self in business, life and to achieve any kind of success, and one must pay the accepted price.
3. Lack of a Sufficient Education.
This hindrance can be overcome by attending a class(es) to improve what you feel will aid you towards a greater knowledge of your idea, plan or business. The primary education begins with learning how to get whatever one wants in life without violating one's own values or the rights of others. If this knowledge is effectively and persistently applied, it can be described as an education in itself.
4. Disregarding Self-Discipline.
Self control of thoughts, actions and desires is achieved by accepting always, only positive mental patterns and dispelling all negative influences.
5. Practicing Procrastination.
Allowing yourself to put off and wait for when the time is right to begin, continue or finish fulfilling your goal. By beginning and continuing on you'll fully realize that the right time is now. Avoid the habit and apply you ability and experience to accomplish it now and not let today's duties be a late arrival.
6. Not Being Persistent About Persistence.
Not knowing how or not having any desire to quit day in or day out if and when confronted with a tough break, Murphy's Law, or an uncontrollable circumstance, makes for a perfect positive asset - by not accepting it as a setback, but as a lesson and self motivator to continue on.
7. Having a Negative Personality.
All hope is lost when a person wanting success continuously turns people away by saying, doing or thinking contrary to accepted positive behavior. Success is achieved when co-operating with others and in return receiving cooperative attitudes. A win-win situation!
8. Wanting Something for Nothing.
Crooks, gamblers, cheats, scams, intimidators and plain dishonesty have affected many people who have, are or will become victims of the “something for nothing" instinct of real losers. Much has been written on this subject. The title should read “Work and Do Something Good and Be a Winner".
9. Not Understanding the Strength of Decision Making.
Efficiency, productivity, co-operation, profits, growth, trust, respect, etc. is a direct result of successful people who are able to make the right decisions quickly when the opportunity presents itself or change a decision, if at all necessary, slowly and cautiously. The opposite of that, failure, is a result of people who are slow to reach decisions, if they can at all, or who more often quickly change decisions. Indecision and waiting for the right time go hand in hand. Make a decision now, stick to it, in order not be a failure.
10. Being Over Cautious.
Don't let over-caution deprive you of making the right move at the right time. Do not hold back on making decisions. After a period of evaluation of your project's direction, value, resources, potential, costs, finances, and the demand, you can make a wise decision. When you decide that any or all of these considerations will benefit you and your project, that it has a lot of merit, then you must make a positive forward decision.
11. Unsure or Wrong Selection of a Business.
Avoid accepting a sugar-coated offer or idea. Under the sugar there may be a sour smell just waiting for the unsuspecting soul. Research the plan and dig up all the facts to familiarize yourself with the complete picture. Seriously consider just how you will fit into becoming a part of or the whole picture of the operation and the financial obligations before and during your involvement. Finally, if your decision is to enter a business, consider and choose the one where you'll feel most comfortable with, the one you understand and most of all, the one you can afford.
12. No Concentration of Effort.
Always concentrate on every aspect of your business plan. It breeds desire, knowledge, familiarity and results. Avoid straying into an unrelated direction, creating distractions that break the momentum of continuity. Concentration will reward you with quicker completion, a quality product, faster and better customer response and profits.
13. Lack of Controlled Spending.
How much you spend and for what purpose should start with a need list. Over and above all, the basic equipment and supplies will always be determined by the growth, production and profits derived from increased sales. As your business grows, so does the need for faster completion and movement of the products, record keeping, customer lists, etc. Spend if you must, but move with preparedness and be certain the new equipment justifies the cost in terms of purpose and expediency.
14. An Absent Feeling of Enthusiasm.
Enthusiasm is an offspring of desire. Never be willing to accept a 9 to 5 mentality which leaves no room for the following: confidence, effort, willingness, progress, and desire to grow. Your enthusiasm can affect you, your co-workers and others and is always accepted and welcomed.
15. Being Intolerant.
Anyone with an idea or plan must also be of the mind to accept new thoughts, when it comes to tolerating advice, comments, criticism and opinions, in order to further understand, create, solve and acquire knowledge when dealing with a business or for that matter, with life itself. An open mind is what usually overcomes the competition.
16. Unable to Co-operate with Others.
This behavior is detrimental to success for two main reasons: without co-operation one can jeopardize oneself with one's job or with that big opportunity that just might come along. This negative trait is so detrimental that no informed business person would ever accept it.
17. Deliberate Dishonesty.
Any dishonest person that commits any dishonest act, has to realize that what has been done, cannot be undone. A self examination, coupled with a sincere desire to acknowledge it, can avoid any such further behavior. Being dishonest by choice is permitting oneself to become a prime candidate for increasing and more serious acts of dishonesty. Such a person is not fully aware just how far it will go and how it will all end.
18. Egotism and Vanity: All for One.
This type of person's train of thought is aimed in only one direction - his own. This person has shut down all the avenues of thought in order to recognize his own happiness, progress, knowledge, wealth or success. His only escape from this dilemma is when he fully realizes why he is not accepted, asked to co-operate, asked to share or asked to lead.
19. Guessing Without Thinking.
What is your value worth if you guess at making decisions or choose a direction or create multiple answers? Knowing, understanding an accepting totally whatever it is you are involved with, takes the guess work out whenever it comes time for you to make wise and accurate decisions. Knowing how and when to make good decisions will show up in many areas of your business. The physical part of your growth will be staring you right in the face. . . But the profit growth, on computers and charts tell no lies.
20. Start Up Capital
Spare time - full time - retail location - office - factory. Everyone requires different arrangements, sources, and information, to fill a need. By calculating equipment, material, labor and up front cash, you can pretty much arrive at a good ballpark figure as to what amount you should have to start to begin operating your business. You may wish to write or contact owners with a similar business. Always ask the most vital questions first. You may be surprised at all the help and information you receive.
This is the list of strengths and weaknesses which you must seriously understand before you go forth in any business. It is your greatest asset to know what you strength is. . . BUT equally as important is knowing your weaknesses and making a vow to correct them.
Write your own ticket and make life yield what you want and ask for.
Copyright 2004 by DeAnna Spencer
DeAnna Spencer is a virtual assistant that helps entrepreneurs run a successful business by providing affordable administrative help. She also publishes a blog for small business owners. Visit this small business resource today.