If there is one thing entrepreneurs struggle with from the start is finding the right business opportunities, there are many factors for this, like, not enough capital, scarce knowledge about marketing, and a pour human resources management.
According to experts in this area, as well as successful entrepreneurs, there are at least three major reasons why entrepreneurs fail in their ventures.
- Tying success of the business with their own self-worth.
- Neglecting setting realistic goals and plans for the business and for themselves.
- Lacking the perseverance demanded to achieve success.
Those entrepreneurs that have succeeded in their business ventures prevailing over time is mostly due to the fact that they learned to understand how the principles of Roles, Goals, and Tolls work on the business plan.
Those entrepreneurs that have succeeded learn the needed to separate their roles in life from their self-worth. They came to understand that success or failure of the venture it is not a judgment as individuals.
Being able to differentiate between your role in life and your role in business will make you a more cunning entrepreneur, willing make risky decisions, a key ingredient for success. Those who risk and failed have learned an important lesson that will make them better at this, than those who don’t risk.
That is because the early failures in ventures are a natural part of building a successful startup. They are more capable of embracing those experiences, learn from them and move on more quickly than those who are afraid of taking risks.
Successfully setting Goals and Planning’s is not something that comes very easily. Even though much has been written about the subject and how they are essential for successful entrepreneurs, few people are capable of understanding the mechanics of it.
It’s not about the “plan” but the “planning” and the process of setting realistic goals allowing you to take risks as well as the fails, this teaches you to be a goal-driven and goal-oriented entrepreneur, thus successfully executing the process of strategic and tactical planning. Visualize your goals, write them down, and then put together a plan detailing how t achieved them, providing you with the confidence and the motivation to prevail. You need to work your plan, set it in motion, and take a leap of faith if you must, but, you need to be ready and capable of adapting those goals should the situation change.
All entrepreneurs understand that there is a toll to pay, they know, that in order to be successful in any role in life one must be prepared to pay the full price for it. In entrepreneurial terms “overnight success” takes between 15-20 years. One of the major tolls entrepreneurs encounter very early on is “re-making” themselves, growing beyond their current circle.
Once again, risk plays an important factor, stepping out of your “comfort zone” plays a major role in here, you need to expand your circle of friends and contacts, surrounding yourself with more risk takers and learning from them.