Here Are 5 Obstacles Entrepreneurs Must Overcome to Be Successful
When setting out to be an entrepreneur, it can be kind of scary. There’s getting past the idea of being “employed” by someone to making it on your own.
And it’s estimated that 96 percent of entrepreneurs fail within the first 10 years of starting a business. Pretty staggering, right!?
Chances are most people do not strive to be a part of the 96 percent. Yet, this is where most of them “statistically” end up.
What about the other 4 percent?How do they do it? How do they succeed?
What are the tricks and methods that successful entrepreneurs use to head down the path of success and how do they overcome the roadblocks along the way?
Success is both an adventure and a journey. It’s a road that has to be traveled to achieve our goals and dreams.
What do you need to do to be successful and reach your full potential?
1. Develop an abundance mindset.
Mindset can be a funny thing. Most of the information available on developing mindset for success gives us what I consider “useless” or non-actionable steps.
Things like: “just think positive” and “believe.”
The truth is, we’ll never think positively or believe in ourselves UNLESS we actually accomplish something. Belief comes through results. You must celebrate your small victories along the way.
When we succeed, our brain has a reason to believe in ourselves and starts thinking positively. We can:
Set achievable goals.
Focus and work toward them every day.
ACHIEVE the goals.
We will naturally start to believe in ourselves more.
We can repeat the process with different goals.
Some people might be thinking: “But how can we get rid of the doubt and worry WITHOUT even getting started.”
We’ll get to that in a second, but first . . .
Here’s a question for you. Do you believe anyone can become independently wealthy?
Absolutely, yes! But here’s the thing . . .
Anyone can BUT very few actually will. With the technologies and information available all around the world today, it has become easier for anyone to succeed in business.
No one has an excuse anymore. Some of the wealthiest people in the world have risen up from nothing. Take a look at this simple scenario to help illustrate this point.
If someone took a walk around the block, how many houses would they see? 10? 20? Maybe even 100?
Now consider: How much would it cost to build each house there?
Depending on where you live in the world, chances are at least $100,000 (or more) right?
Think about it.
That’s a lot of money just sitting there in one tiny little neighborhood!
Imagine how much money there is in the entire town. How about the county or the entire state?
Look, there’s abundance all around us. So, why can’t we all have a slice of the pie?
It’s not about getting a piece of the pie . . .that’s what the 96 percent do. Why not just go out there and make your own pies? That’s the mentality of the 4 percent!
We can make our own “pies,” and WE (not the government or anyone else) are the only one stopping ourselves from believing that we can.
We need to start SEEING the abundance all around us. Once we see the possibilities, then our mindset will shift . . . and we’ll begin to believe our goal is achievable.
Make THIS a habit.
Every day, go outside and notice how many trees there are. Look at all the blades of grass in the yard. Take a look around. And let it all soak in.
There’s an abundant amount of potential around us. We need to train our minds to see the abundance that surrounds all of us. Once we train our minds to see the abundance all around, our brain will subconsciously start to act in a more positive way that will allow us to begin setting and achieving goals.
2. Choose advice wisely.
There’s an old saying that, “Everyone has an opinion.”
In other words, everyone wants to give advice on what to doand if we let them, they’ll probably try to tell us how to do it, too.
Why would we take advice from anyone who hasn’t been successful themselves? How can someone, who’s never done what we want to do, advise us on how to do it?
Want some advice from someone who HAS done it?
Here it is:
Stop taking advice from Uncle Sam.
Don’t listen to Uncle Mike or Uncle Johnny either.
Your buddy in the break room (who works exactly where you do) doesn’t have the winning tip either.
Rule of Thumb: If someone hasn’t done what we want to do, or they don’t have the things we want to have in our life, we CAN’T take their advice.
It’s the proverbial, “blind leading the blind.”
Someone who doesn’t know the way or the path of how to get there, can’t give someone else the directions.
It just doesn’t make sense. So, think about it . . .
Who are you getting your advice from AND are they actually QUALIFIED to give that advice?
Cousin Bobby who’s out of shape, 50 lbs overweight, and played football 20 years ago, probably ISN’T the go to person, for advice on how to get a 6 pack of abs.
And if he tried to tell us, we probably wouldn’t listen, would we?
Of course not!
So why, when we want to be successful in business or with money, do we go to our friends and family (who are often dead broke and don’t have either) for that advice?
Often times, instead of “helping,” they give us back MORE negativity like: “That’s impossible! What if it fails?”
Ever heard that before?
Listen, it’s not that they mean us harm or to hold us back. It’s just that most of the time, they can’t envision it for themselves. Let alone envision it for us.
Most people are afraid of the “unknown.” So, if it’s outside their comfort zone, they try to protect us from doing it.
We all have big dreams. And we expect these dreams are going to be hard to attain. We even know we’ll have to put in some effort, too.
But because the other person can’t IMAGINE putting in that amount of effort and sacrifice, they usually give negative and discouraging feedback, which can affect us from pursuing it.
When taking advice, be realistic . . .
We’re not going to ask someone who’s not an artist, how to paint.
So, we shouldn’t ask someone who hasn’t accomplished their dreams, for advice on how to accomplish ours.
Want to be wealthy? Get advice from a wealthy person.
Want to be healthy? Get advice from a healthy person.
Want to be happy? Get advice from a happy person.
We have to be wise about who we take our advice from.
Bottom line: Listen to good advice. If they haven’t done it themselves, then we probably shouldn’t take their advice.
3. Work harder, not smarter.
Listen, eventually, it’s good to work smart. And yes, it’s actually preferable and more efficient later on.
But when we’re just starting out, we have to work HARDER.
We have to put in the time and effort. We have to earn the right to work smarter.
Don’t get me wrong, working smart IS essential, but it’s only half of the equation.
No successful entrepreneur started out by working smarter from the beginning.
They had to HUSTLE! They had to put in back-breaking amounts of effort during every waking hour of the day.
Every moment they were awake, they were learning or working on something related to their business. Sometimes, for DAYS without any sleep.
Just ask Mark Cuban, the billionaire owner of the Dallas Mavericks and serial entrepreneur on ABC’s Shark Tank.
He said it himself, “It’s not about money or connections, it’s the willingness to OUTWORK and OUTLEARN everyone.”
Or how about the richest man in the world: Bill Gates.
Apparently, Gates never did anything other than code all day long. He slept at the computer, would wake up after a few hours of sleep and pick up programming exactly where he left off.
Bill worked harder, not smarter, in an industry already saturated with incredibly intelligent people. Sometimes, being smart is just the level of entry. Gates rose to the top by outworking everybody else.
So, what does that mean for us? No more excuses. If we’re not where we want to be in our businesses, it’s usually because we simply need to work harder.
We need to be putting in more time and learning faster than anyone else. We have to sacrifice. We have to be willing to meet with people on weekends.
When everyone else is hanging out, having fun and sleeping in, we have to be willing to stay up late at night or get up early in the morning.
During the startup phase, we have the choice of being productive or having a social life. If we REALLY want success as bad as we say we do – The choice for long-term success should be obvious!
But here’s the KEY . . .
The most successful people maintain the same level of persistence and drive year after year after year. That’s what separates those who are really successful from the amateurs. Both types of people can be smart workers, but the ability to just suck it up & put their nose to the grind is what makes the difference.
As entrepreneurs, often times we must work smarter, harder and longer because our competition already is. Both hard work and smart work are essential. It’s time to stop treating them as one or the other and as if they’re mutually exclusive.
4. Find a community.
Ever heard the saying, “You are the average of the 5 people you surround yourself with?”
Well, it’s true.
Whether or not we like it, we are greatly influenced by those closest to us. They affect our thinking, our decisions, our happiness, and our habits.
This makes it a double-edged sword, though…
It can be bad, because no matter how good our intentions are – if we’re surrounded by negative people (who are constantly knocking us down and holding us back), then we’ll start to believe it too.
It doesn’t matter how positively someone thinks. Eventually, willpower runs out and the negativity WILL start to affect them.
But this is why it can also be a great thing.
If we know we’re not very positive or that we’re indecisive and procrastinate, we need to surround ourselves with go-getters, high achievers, and people who are striving every day to better themselves.
When we do this, we can’t help but become better along with them.
Being in that type of environment, and spending time with them, will cause their habits to become ours.
Want to become fit and lean? Be surrounded by people who strive to be healthy.
Want to find love? Find people who are constantly going out and meeting others or who are happily married.
Want to become wealthy? Spend time around wealthy people.
With that said, there’s one thing to be conscious of . . .
While we want to be surrounded by positive, supportive people who want us to succeed – we need to prevent ourselves from living in an “echo chamber.” Meaning, we need to be open to healthy critiques and criticisms.
Most people only want the positive feedback, but if we’re surrounded by people who only tell us how good we did, we’ll never be able to work on our weaknesses.
We’ll never become the best we can be. So make sure to also get feedback on negative aspects and be open to improving them.
5. Follow a proven system.
Success can be summed up in 1 word: System.
Think about it . . .
Does McDonald’s have the best burgers on the planet? No way. Yet, they have the best system of getting it to their customers.
No matter what McDonald’s, anywhere in the world, it’s the same thing:
Burger, one slice of cheese, ketchup, mustard, 2 pickles centered.
Heck, they don’t even give you condiments, unless you ask for them. It’s a well-oiled machine that any high schooler can learn in a day. But the power is in the system itself.
What I would highly recommend is finding a successful person who has a system for their success. Someone who can teach you THEIR system.
This happens everywhere you look. Doctors have internships, lawyers have associates. Even Jedi’s have Padawans.
For our purposes here, we can simply call this person a mentor.
Close your eyes and imagine having a mentor. Someone who’s walks the walk and talks the talk; someone who’s sole purpose is to help you.
Imagine what that would be like?
But this ISN’T the time to imagine . . .
Open your eyes . . . we have just the person to introduce to you.
Someone who has been there and DOING IT, over the past 15 years and has earned over $120 million online; someone who earns upwards of $50,000 a day (just in consulting fees alone); someone who’s empowering entrepreneurs to finally break through the barriers of earning their first dollar online.
Meet Anik Singal. He’s a man with a roadmap to success, who has created a long-term, sustainable business.
Most people try to go at success alone. But you have to learn how to be successful from successful people.
Most newbies think that to start a business they have to be the next Mark Zuckerberg and come up with a billion dollar idea.
But that’s just not the case. 99% of success stories are made from people who looked at what other successful people were doing and followed their path.
Like Pablo Picasso said, “Good artists copy. Great artists steal.”
If Ray Kroc, the founder of McDonalds gave us a franchise along with all of the instructions of how to run the company:
Exactly how to hire and train the employees.
Exactly how to plan and execute tasks.
Exactly how to position the company and drive profit.
It would be impossible to fail, right?
That’s the entire crux of the franchise model. Model success!
There’s only one problem with buying a franchise, though.
Most people can never afford it.
Rarely, can a franchise be purchased for under $100,000. And if we really want any of the superstar chains – good luck.
These 5 alone are out of range for almost anyone looking to start up in business.
Taco Bell: $1.2 – $2.5 million
Wendy’s: $2 – $3.5 million
KFC: $1.3 – $2.5 million
McDonalds: $955,708 – $2.3 million
Pizza Hut: $295,000 – $422,000
And that’s just for one store location.
Luckily, the internet has changed this model for all of us.
It’s not just the rich people who were born into it that get to enjoy success. Nowadays, with the right tools, we can copy the same systems, learn from the same successful mentors, and potentially make our own millions . . . without even .01% of that investment.
NeuroGym Team: NeuroGym’s Team of experts consists of neuroscientists, researchers, and staff who are enthusiasts in their fields. The team is committed to making a difference in the lives of others by sharing the latest scientific findings to help you change your life by understanding and using the mindset, skill set and action set to change your brain.
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