ENTREPRENEURSHIP IS not a venture that is cut out for everyone. There are those who try their hand at it and succeed, while others keep failing, regardless of the approach they use. Most people think that if they come up with a brilliant business idea, they will attain success without realizing there is more to success than meets the eye.
Consequently, the question is what makes even the smartest people fail in entrepreneurship. The following are some of the more common manifestations that lead to this state.
- The unwillingness to stay working or get working when they do not feel motivated. Most people prefer working hard when they feel like working hard and in most cases, this is often never enough. Working hard should be something one naturally does, not a decision to be made. In essence, it is foundational.
- Dabbling: This refers to the inability to stay focused on one thing until you become an expert in it. If you can find something you are good at and keep at it long enough to learn the ropes, this might heighten you chances of success.
- Networking aversion: Most people suffer from the illusion they can work well on their own and this often creates a major setback. Entrepreneurs fail because they don’t take time to create deep connections that make it easy to land great ideas and stay in business long enough to carve a niche.
- Betting on farfetched and long-shot dreams rather than focusing on what is at hand. While it is true that there are individuals who have turned out to be self-supporting documentary film makers, artists and actors, it is also true that those who manage to pull this off are unusually driven and talented. In addition to this, they also have great connections. So unless one can confidently claim to have the same, it is recommended to stick to realistic goals.
- Insufficient research: In order to succeed in the business world, it is imperative to establish strong and solid connections and this is something that most individuals fail miserably at. Sufficient research would translate to having connections to all the sources that might propel one’s goals and working hard but smart.
People are wired to think that just because someone is smart, they will automatically succeed in any business they pursue. Being a genius in one field does not make you one in another and this is because your dedication can only be directed into one. This leads to an earlier argument that consistency is very important for the purpose of increasing chances of success.
