hi I’m Evan Carmichael welcome to an edition of ask Evan today Mason a
edition of ask Evan today Mason a
edition of ask Evan today Mason a question from one of our newsletter
question from one of our newsletter
question from one of our newsletter readers male khoa who wrote in asking
readers male khoa who wrote in asking
readers male khoa who wrote in asking can you please give me some information
can you please give me some information
can you please give me some information on why entrepreneurs fail great question
on why entrepreneurs fail great question
on why entrepreneurs fail great question thank you for answer for asking it so
thank you for answer for asking it so
thank you for answer for asking it so many entrepreneurs fail something like
many entrepreneurs fail something like
many entrepreneurs fail something like eighty percent of entrepreneurs fail
eighty percent of entrepreneurs fail
eighty percent of entrepreneurs fail within the first five years and there’s
within the first five years and there’s
within the first five years and there’s a number of reason why that happens and
a number of reason why that happens and
a number of reason why that happens and hopefully I can shed some light on it so
hopefully I can shed some light on it so
hopefully I can shed some light on it so the first one is a lot of entrepreneurs
the first one is a lot of entrepreneurs
the first one is a lot of entrepreneurs get into business for the wrong reason
get into business for the wrong reason
get into business for the wrong reason so they get into mrs. just trying to
so they get into mrs. just trying to
so they get into mrs. just trying to make money and that’s great we want to
make money and that’s great we want to
make money and that’s great we want to make money but it shouldn’t be your main
make money but it shouldn’t be your main
make money but it shouldn’t be your main reason for becoming an entrepreneur if
reason for becoming an entrepreneur if
reason for becoming an entrepreneur if you look at any famous entrepreneur and
you look at any famous entrepreneur and
you look at any famous entrepreneur and if you look on our website with the
if you look on our website with the
if you look on our website with the largest collection of famous
largest collection of famous
largest collection of famous entrepreneur stories these guys started
entrepreneur stories these guys started
entrepreneur stories these guys started because they want to make a difference
because they want to make a difference
because they want to make a difference they wanted to help people do want to
they wanted to help people do want to
they wanted to help people do want to have an impact and it sounds may be very
have an impact and it sounds may be very
have an impact and it sounds may be very fluffy but it’s true you know you got to
fluffy but it’s true you know you got to
fluffy but it’s true you know you got to have a strong passion for what you’re
have a strong passion for what you’re
have a strong passion for what you’re doing you got to really love the
doing you got to really love the
doing you got to really love the business that you’re in because it’s so
business that you’re in because it’s so
business that you’re in because it’s so hard it’s it’s brutally tough being an
hard it’s it’s brutally tough being an
hard it’s it’s brutally tough being an entrepreneur and most people will give
entrepreneur and most people will give
entrepreneur and most people will give up because they don’t love what they’re
up because they don’t love what they’re
up because they don’t love what they’re doing and a lot of these entrepreneurs
doing and a lot of these entrepreneurs
doing and a lot of these entrepreneurs the successful ones they would do what
the successful ones they would do what
the successful ones they would do what they’re doing even if they weren’t
they’re doing even if they weren’t
they’re doing even if they weren’t getting paid for because they love it so
getting paid for because they love it so
getting paid for because they love it so much so that’s what you have to first of
much so that’s what you have to first of
much so that’s what you have to first of all find something you love so much you
all find something you love so much you
all find something you love so much you would do it to help people and you do it
would do it to help people and you do it
would do it to help people and you do it even you weren’t getting paid for it
even you weren’t getting paid for it
even you weren’t getting paid for it because you have that strong passion for
because you have that strong passion for
because you have that strong passion for so if you haven’t found it yet don’t
so if you haven’t found it yet don’t
so if you haven’t found it yet don’t settle you know keep looking for it
settle you know keep looking for it
settle you know keep looking for it don’t give up on on having that great
don’t give up on on having that great
don’t give up on on having that great business idea don’t just jump into
business idea don’t just jump into
business idea don’t just jump into something because you think you’re going
something because you think you’re going
something because you think you’re going to make a lot of money and typically
to make a lot of money and typically
to make a lot of money and typically you’ll find that money will motivate you
you’ll find that money will motivate you
you’ll find that money will motivate you only for so long when you don’t see the
only for so long when you don’t see the
only for so long when you don’t see the results coming in and you really hate
results coming in and you really hate
results coming in and you really hate what you’re doing every day you’re not
what you’re doing every day you’re not
what you’re doing every day you’re not going to keep at it you know what it’s
going to keep at it you know what it’s
going to keep at it you know what it’s too hard and so you’re going to quit so
too hard and so you’re going to quit so
too hard and so you’re going to quit so step number one is finding something
step number one is finding something
step number one is finding something you’re really strongly passionately in
you’re really strongly passionately in
you’re really strongly passionately in the deepest part of your soul believe in
the deepest part of your soul believe in
the deepest part of your soul believe in and you know you’re helping people
and you know you’re helping people
and you know you’re helping people because that energizes you right when
because that energizes you right when
because that energizes you right when you find people writing in to you saying
you find people writing in to you saying
you find people writing in to you saying you change their life or thank you so
you change their life or thank you so
you change their life or thank you so much for that that
much for that that
much for that that information or that product of that
information or that product of that
information or that product of that service it made a huge impact on me that
service it made a huge impact on me that
service it made a huge impact on me that motivates you to keep going at least it
motivates you to keep going at least it
motivates you to keep going at least it does for me and so it ends up giving you
does for me and so it ends up giving you
does for me and so it ends up giving you the energy you need to get up every day
the energy you need to get up every day
the energy you need to get up every day and do it all over again and so you
and do it all over again and so you
and do it all over again and so you really want to love what you’re doing
really want to love what you’re doing
really want to love what you’re doing and there’s going to be parts of running
and there’s going to be parts of running
and there’s going to be parts of running the business that suck even as you grow
the business that suck even as you grow
the business that suck even as you grow and build beyond yourself and have a
and build beyond yourself and have a
and build beyond yourself and have a team to help you with some of the
team to help you with some of the
team to help you with some of the admin’s stuff there’s still parts that
admin’s stuff there’s still parts that
admin’s stuff there’s still parts that suck but hopefully it sucks less but as
suck but hopefully it sucks less but as
suck but hopefully it sucks less but as you are able to grow your business and
you are able to grow your business and
you are able to grow your business and build it more and more around the things
build it more and more around the things
build it more and more around the things you’re really good at it really love
you’re really good at it really love
you’re really good at it really love doing so I would say the number one
doing so I would say the number one
doing so I would say the number one reason why entrepreneurs will fails
reason why entrepreneurs will fails
reason why entrepreneurs will fails because they picked a business that
because they picked a business that
because they picked a business that they’re not super passionate about and
they’re not super passionate about and
they’re not super passionate about and they’re not helping people in so that’d
they’re not helping people in so that’d
they’re not helping people in so that’d be the first place i would start the
be the first place i would start the
be the first place i would start the next reason i would say a lot of
next reason i would say a lot of
next reason i would say a lot of entrepreneurs fail is they quit too soon
entrepreneurs fail is they quit too soon
entrepreneurs fail is they quit too soon they don’t allow momentum to build and
they don’t allow momentum to build and
they don’t allow momentum to build and running the business is really hard you
running the business is really hard you
running the business is really hard you know it’s hard to get up every day and
know it’s hard to get up every day and
know it’s hard to get up every day and do something and not see results and
do something and not see results and
do something and not see results and want results so badly you know as
want results so badly you know as
want results so badly you know as entrepreneurs we we want things that
entrepreneurs we we want things that
entrepreneurs we we want things that happen yesterday we feel so motivated
happen yesterday we feel so motivated
happen yesterday we feel so motivated such at the beginning to get this thing
such at the beginning to get this thing
such at the beginning to get this thing going and change our lives and be our
going and change our lives and be our
going and change our lives and be our own boss that it’s frustrating when the
own boss that it’s frustrating when the
own boss that it’s frustrating when the results don’t come in quickly but the
results don’t come in quickly but the
results don’t come in quickly but the reality is a lot of this stuff takes
reality is a lot of this stuff takes
reality is a lot of this stuff takes time to build you know it takes time for
time to build you know it takes time for
time to build you know it takes time for the awareness to get out there it takes
the awareness to get out there it takes
the awareness to get out there it takes time for the only referral partners to
time for the only referral partners to
time for the only referral partners to talk about you people to discover you
talk about you people to discover you
talk about you people to discover you your website to take off it does take
your website to take off it does take
your website to take off it does take time for things to happen and you need
time for things to happen and you need
time for things to happen and you need to do something every day to make sure
to do something every day to make sure
to do something every day to make sure that that business is growing and too
that that business is growing and too
that that business is growing and too many entrepreneurs just quit too soon
many entrepreneurs just quit too soon
many entrepreneurs just quit too soon you know you don’t you don’t see the
you know you don’t you don’t see the
you know you don’t you don’t see the immediate results and so you give up and
immediate results and so you give up and
immediate results and so you give up and what I would try to encourage you to do
what I would try to encourage you to do
what I would try to encourage you to do is think about think about the value
is think about think about the value
is think about think about the value that you’re trying to help think about
that you’re trying to help think about
that you’re trying to help think about the people you’re trying to help and try
the people you’re trying to help and try
the people you’re trying to help and try to channel that motivation into getting
to channel that motivation into getting
to channel that motivation into getting up every day and doing something to help
up every day and doing something to help
up every day and doing something to help them I know it’s tough you know I know
them I know it’s tough you know I know
them I know it’s tough you know I know when you’re not seeing anything come
when you’re not seeing anything come
when you’re not seeing anything come back and just trying to stick to that
back and just trying to stick to that
back and just trying to stick to that vision it can be really hard but I found
vision it can be really hard but I found
vision it can be really hard but I found that it does it did help me at least and
that it does it did help me at least and
that it does it did help me at least and still does help me think about the
still does help me think about the
still does help me think about the people you’re helping try to visualize
people you’re helping try to visualize
people you’re helping try to visualize you have helped and the
you have helped and the
you have helped and the real benefit that they’ve gotten by you
real benefit that they’ve gotten by you
real benefit that they’ve gotten by you being in business and if you weren’t
being in business and if you weren’t
being in business and if you weren’t there you know what would they have done
there you know what would they have done
there you know what would they have done so that’s the first one and the second
so that’s the first one and the second
so that’s the first one and the second part is think about the life that you
part is think about the life that you
part is think about the life that you want to create and what you have to do
want to create and what you have to do
want to create and what you have to do to get there you know if you keep doing
to get there you know if you keep doing
to get there you know if you keep doing just the same thing back at your regular
just the same thing back at your regular
just the same thing back at your regular old job are you going to create the
old job are you going to create the
old job are you going to create the lifestyle that you want is that really
lifestyle that you want is that really
lifestyle that you want is that really the life that you want to build the
the life that you want to build the
the life that you want to build the being able to build in the next 10 20 30
being able to build in the next 10 20 30
being able to build in the next 10 20 30 40 50 years upendra how old you are you
40 50 years upendra how old you are you
40 50 years upendra how old you are you know so if you’re if you’re able to
know so if you’re if you’re able to
know so if you’re if you’re able to visualize the lifestyle that you want
visualize the lifestyle that you want
visualize the lifestyle that you want and get frustrated enough to say you
and get frustrated enough to say you
and get frustrated enough to say you know I have to change my situation from
know I have to change my situation from
know I have to change my situation from you’ll be able to build that lifestyle
you’ll be able to build that lifestyle
you’ll be able to build that lifestyle that can give you the motivation to get
that can give you the motivation to get
that can give you the motivation to get up and and do the work even when nobody
up and and do the work even when nobody
up and and do the work even when nobody else maybe believes in you and so I find
else maybe believes in you and so I find
else maybe believes in you and so I find that to be very helpful so you got to do
that to be very helpful so you got to do
that to be very helpful so you got to do something every day and not quit don’t
something every day and not quit don’t
something every day and not quit don’t quit too soon which is a huge reason why
quit too soon which is a huge reason why
quit too soon which is a huge reason why a lot of entrepreneurs fail so the first
a lot of entrepreneurs fail so the first
a lot of entrepreneurs fail so the first part is getting to businesses you’re not
part is getting to businesses you’re not
part is getting to businesses you’re not passionate excited about it the second
passionate excited about it the second
passionate excited about it the second part is because you quit too soon and
part is because you quit too soon and
part is because you quit too soon and the third reason I think why a lot of
the third reason I think why a lot of
the third reason I think why a lot of entrepreneurs fails they don’t they
entrepreneurs fails they don’t they
entrepreneurs fails they don’t they don’t stretch themselves enough to be
don’t stretch themselves enough to be
don’t stretch themselves enough to be successful as an entrepreneur we’re all
successful as an entrepreneur we’re all
successful as an entrepreneur we’re all limited right we all have our own
limited right we all have our own
limited right we all have our own strengths and weaknesses and we’re all
strengths and weaknesses and we’re all
strengths and weaknesses and we’re all really good at things and we all suck at
really good at things and we all suck at
really good at things and we all suck at other things and to be a successful
other things and to be a successful
other things and to be a successful entrepreneur you’re going to have to
entrepreneur you’re going to have to
entrepreneur you’re going to have to push yourself beyond your comfort zones
push yourself beyond your comfort zones
push yourself beyond your comfort zones you know in our comfort zones we tend to
you know in our comfort zones we tend to
you know in our comfort zones we tend to do the things we like and we’re good at
do the things we like and we’re good at
do the things we like and we’re good at and not necessarily the things we have
and not necessarily the things we have
and not necessarily the things we have to do to grow our businesses and if you
to do to grow our businesses and if you
to do to grow our businesses and if you want to achieve success you have to be
want to achieve success you have to be
want to achieve success you have to be able to build that degree of discomfort
able to build that degree of discomfort
able to build that degree of discomfort I guess and what you do to stretch
I guess and what you do to stretch
I guess and what you do to stretch yourself and put yourself beyond what
yourself and put yourself beyond what
yourself and put yourself beyond what you’re comfortable doing because you’re
you’re comfortable doing because you’re
you’re comfortable doing because you’re going to have to do that be able to get
going to have to do that be able to get
going to have to do that be able to get your company off the ground and up to
your company off the ground and up to
your company off the ground and up to that next level success and when people
that next level success and when people
that next level success and when people ask me even now what I feel is the
ask me even now what I feel is the
ask me even now what I feel is the biggest hurdle in my business and what
biggest hurdle in my business and what
biggest hurdle in my business and what keeps me up at night or what the biggest
keeps me up at night or what the biggest
keeps me up at night or what the biggest problem is with my business is usually
problem is with my business is usually
problem is with my business is usually limiting personal beliefs you know you
limiting personal beliefs you know you
limiting personal beliefs you know you think you’re only so good and so that’s
think you’re only so good and so that’s
think you’re only so good and so that’s how good you can become and if you think
how good you can become and if you think
how good you can become and if you think you’re better you’ll rise to the
you’re better you’ll rise to the
you’re better you’ll rise to the occasion and you’ll stretch yourself and
occasion and you’ll stretch yourself and
occasion and you’ll stretch yourself and you push yourself to get to that next
you push yourself to get to that next
you push yourself to get to that next step so it’s easy to get comfortable in
step so it’s easy to get comfortable in
step so it’s easy to get comfortable in a certain position for some people it’s
a certain position for some people it’s
a certain position for some people it’s making fifty thousand dollars a year
making fifty thousand dollars a year
making fifty thousand dollars a year a hundred thousand dollars a year
a hundred thousand dollars a year
a hundred thousand dollars a year whatever it is you get comfortable you
whatever it is you get comfortable you
whatever it is you get comfortable you stop growing you stop pushing yourself
stop growing you stop pushing yourself
stop growing you stop pushing yourself and and that’s fine you know if that’s
and and that’s fine you know if that’s
and and that’s fine you know if that’s your goal that’s great if you want to
your goal that’s great if you want to
your goal that’s great if you want to achieve more then you have to push
achieve more then you have to push
achieve more then you have to push yourself more and so one of the biggest
yourself more and so one of the biggest
yourself more and so one of the biggest things i think for growing entrepreneurs
things i think for growing entrepreneurs
things i think for growing entrepreneurs and something is still to me it happens
and something is still to me it happens
and something is still to me it happens all the time the biggest challenges
all the time the biggest challenges
all the time the biggest challenges limiting personal beliefs so you only
limiting personal beliefs so you only
limiting personal beliefs so you only think you’re so good and so that’s how
think you’re so good and so that’s how
think you’re so good and so that’s how good you are you know if you think you
good you are you know if you think you
good you are you know if you think you deserve better and you take the steps to
deserve better and you take the steps to
deserve better and you take the steps to create a lifestyle that is where you
create a lifestyle that is where you
create a lifestyle that is where you want to be then you’re going to get
want to be then you’re going to get
want to be then you’re going to get there you know if you think you deserve
there you know if you think you deserve
there you know if you think you deserve better and you really in your heart
better and you really in your heart
better and you really in your heart believe that then you’ll you’ll get
believe that then you’ll you’ll get
believe that then you’ll you’ll get better right you’ll you’ll get that
better right you’ll you’ll get that
better right you’ll you’ll get that lifestyle if you don’t think you deserve
lifestyle if you don’t think you deserve
lifestyle if you don’t think you deserve it or if you don’t you don’t think you
it or if you don’t you don’t think you
it or if you don’t you don’t think you can get there then you won’t so limiting
can get there then you won’t so limiting
can get there then you won’t so limiting person believes a huge issue um you know
person believes a huge issue um you know
person believes a huge issue um you know we’re looking at what what beliefs might
we’re looking at what what beliefs might
we’re looking at what what beliefs might be holding you back and I think every
be holding you back and I think every
be holding you back and I think every time I’ve been able to grow my business
time I’ve been able to grow my business
time I’ve been able to grow my business to the next step if I feel like I’ve
to the next step if I feel like I’ve
to the next step if I feel like I’ve stagnated and then we’ve made a huge
stagnated and then we’ve made a huge
stagnated and then we’ve made a huge leap forward it’s because I changed a
leap forward it’s because I changed a
leap forward it’s because I changed a belief that i had about what my business
belief that i had about what my business
belief that i had about what my business should be doing or what I should be
should be doing or what I should be
should be doing or what I should be doing and just recognizing that belief
doing and just recognizing that belief
doing and just recognizing that belief in changing it can make a humongous
in changing it can make a humongous
in changing it can make a humongous difference in the growth of your
difference in the growth of your
difference in the growth of your business so hopefully that helped
business so hopefully that helped
business so hopefully that helped through uses why I think entrepreneurs
through uses why I think entrepreneurs
through uses why I think entrepreneurs fail if you guys liked the video please
fail if you guys liked the video please
fail if you guys liked the video please give it a thumbs up below makes me more
give it a thumbs up below makes me more
give it a thumbs up below makes me more motivated to do these videos and I love
motivated to do these videos and I love
motivated to do these videos and I love you were yet to think feel free to leave
you were yet to think feel free to leave
you were yet to think feel free to leave a comment below if you like the video if
a comment below if you like the video if
a comment below if you like the video if you didn’t and if you have a question
you didn’t and if you have a question
you didn’t and if you have a question for your business I love be able to try
for your business I love be able to try
for your business I love be able to try to answer it for you here on youtube so
to answer it for you here on youtube so
to answer it for you here on youtube so please leave a comment below and I’ll
please leave a comment below and I’ll
please leave a comment below and I’ll see you on the next episode
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