Have you ever really contemplated that question? Have you ever thought about what the top 5 reasons are in response to the question why do businesses fail? What do you think the top #1 reason is for why businesses fail?
For years I’ve wondered why some people are successful whereas others are not. I’ve contemplated whether success came from good karma, good luck, being intelligent or simply being in the right place at the right time. As for failure – I’ve thought that business closures occur because of a bad product or service, lack of sales skills, bad economy, not knowing the right people or unfortunate circumstances.
After all my contemplating I’ve come to the conclusion that all the reasons as to why business fail (like listed above) are effects of a core problem. Similar to a doctor treating a symptom of a disease rather than the disease, business owners combat the effect of a core problem rather than the problem itself.
You see…the problem is hidden. You can’t see it with your eyes and you wouldn’t know it’s there unless someone told you.
The number 1 reason as to why businesses fail comes down to the business owner belief system. It’s the business owners beliefs about success and failure that determine whether they’ll be a success or failure. You get what you focus on and if you’re failing it’s because your focus is aimed more towards failing than succeeding. That means that you’re worrying about failure, contemplating business failure and paying attention to anything that confirms business failure is possible.
I’ve written a full article entitled, Business Failure: the #1 reason that business owners, freelancers and the self-employed struggle at best and fail at worst on my ‘How Life Really Works,’ website. Read about my Business Failure article and find out what you can do to ensure you’re a success rather than a failure!