Why 80% of Small Businesses Fail
Today I want to shed some light on a very scary statistic, which is that 80% or eight out of ten small businesses that start up this year will close their doors within the first five years of business. That’s a LOT of small businesses failing, and it would help immensely to know what it is that makes them fail. This is important information and it can make or break your campaigns in general, so let’s discuss some of the reasons businesses fail.
The first piece of information I’d like to shine light on for those of you trying to sell beats online is that you need to know what it really means to be an entrepreneur. Being an entrepreneur is something that is fantasized a lot in today’s media, and it seems “cool” to want to be one. So a lot of people start writing up plans to start a business based on the fact that they want to live the fantasy life of being an entrepreneur, and there’s nothing wrong with that.
However what is wrong is this: most people who claim to be entrepreneurs are actually not at all. The true definition of an entrepreneur is a person who is willing to continuously fail, someone who expects failure as a part of their routine with their business, and yet strives forward and continues. You need to be able to get back up as soon as you’re pushed down if you expect to make it in this business or any other business.
Most people think that being an entrepreneur is all about making money on the internet, whether selling beats on Soundclick, Soundcloud or otherwise. But the fact is that it’s more about carefully planning your businesses future, and making moves even when things seem dark and gloomy. If you’re not willing to put in eight or ten hour work days on a regular basis for your business, then you might not have the work ethic necessary to make money online.
Be sure to count yourself among the real entrepreneurs out there by putting your efforts forward and making something happen for yourself. Don’t hesitate to continue moving forward even when things look bad. Try to make the best out of what you have and use that brilliant mind of yours to come up with alternative methods and strategies that will help you achieve success based on the money or resources you already have. Don’t feel afraid to put yourself out there and work hard towards your dreams.
For me, one big tip that always helps is writing in my notebook before I get started on my computer. Taking the time to brainstorm is extremely useful for me because sometimes I can save myself massive amounts of time and annoyance by simply writing ideas on paper and coming up with easy, ready-to-go solutions that don’t require much work. Just yesterday I decided to add a loops and kits page on this website, and I was thinking I would have to switch over the entire store system, which would have taken hours and hours. Instead I was able to get it going, thanks for brainstorming in my notebook, without switching anything over. I just added functionality instead of taking away any.
So today’s lesson is to always work your ass off and make sure you don’t crumble at the first sign of failure. There’s no reason for you to feel like the world rests on your shoulders and you need to succeed now or never. Take the time to write out plans and make sure to take your time, as you can succeed much more if you just focus on the right things.
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