The 3 Reasons Too Many People Are Failing In Business

(and what you can do to avoid wasting years of your life)…

…keep reading to find out in case this is you:

The very first thing you need to do is recognise where you are on your own journey.

I need to point out that if you don’t own a business, never have owned a business or never will, the solo journey probably won’t appeal to you (unless you’re trying to help others).

  • You’re either just about to start your own business, or recently started (within the past 12 months), or
  • You’ve been in business for a good number of years, and you’re just not making progress

If you’re one of those two, then great, you’re in the right place.

The 3 Reasons…

So let’s look at the three reasons why you might be heading for a fall (and what you can do to avoid it!). I’ll list them here quickly then go through each in more detail straight after:

1. Working Too Hard

2. Understanding if you have a Business (or not) – NOTE: Most people Don’t

3. Not Knowing What To Do Next

Let’s cover the first one first:

#1 – Working Too Hard

Business owners tend to think working 16 hours a day is some kind of heroic effort. It’s suicide. Been there done that. There’s nothing glamorous about working in your business until you fall over.

Whilst it’s not glamorous, it’s also flawed.

I’m not specifically talking about only working a ’4 hour work week’. That’s nice in theory, but Tim Ferris will be one of the first to tell you that he works much more than that.

But it’s having the right balance.

The right balance of work, play, family.

Allowing yourself to choose what you do, and when.

Knowing that when you spend time on your business, you’re building something – whether an asset, a legacy, a ‘machine’ that literally can run by itself.

Another way to look at this is to add up all the hours you work in your business and work out your hourly rate (after all your expenses) – are you making an average income? Are you breaking even? Is all your hard work giving you the results you wanted when you decided to go it alone?

Far too often I talk to business owners who are spending all the hours in their days on what can only be described as ‘wheel spinning’, or just keeping the lights on.

You might be asking “but Jamie, I’m the only one who can do this work!”

Are you?

When you start to realise there is another way, and you see for yourself the improvements that you can make yourself in your own business, you’ll not only want to learn more, you’ll want to know the quickest way to start implementing it into your day, your business and your life.

This leads us to the second point: Do you have a business today, or not?

Sound like a strange question?

Let me explain:

#2 – Understanding if you have a Business (or not)

Did you know the definition of having a successful Business is that you can go on a 12 month holiday from your business, and when you get back it’s performing better than when you left it.

So ask yourself now – do you have a Business?

Or is it solely dependant on you, and if you’re not there, your business ceases to exist? Worse still, if something happens to you, your business stops, and those who are relying on you will be affected too?

Too much of a business too frequently is dependent on the owner to be there. You’re not there, the business doesn’t make any money. If you’re not there for an extended period of time, you won’t have a business when you come back.

The good news is, once you understand this, you can take steps to change this, to build an actual business and to build safety and surety into your future.

The third and last challenge most businesss owners have, especially Entrepreneurs like you and I have, is knowing how to move forward.

What is the next right step?

#3 – Not Knowing What To Do Next

If you’re like I used to be, working hard spinning wheels was more because you don’t know where to spend your efforts.

  • What should you be working on next?
  • How can you identify the quickest way to get results without cutting corners?
  • When does adding resources to your business make sense?
  • Does anyone want to buy from you, and how is that going anyway?

That’s just a small list of what’s possibly going through your mind.

Ultimately its the question: Where do I start? or What do I do next?

If that’s the case, you’ll want a plan.

Which leads onto: Yes i do, but what’s the best way to do that?

The Way Forward From Here

The checklist (in order) of next steps:

Here’s a list of what you need

1. Understand your vision

2. Set Goals to achieve your vision

3. Define the projects to achieve your goals

4. Build up the skills in the key areas to be able to grow your business:

  • Productivity
  • Marketing
  • Delivery
  • Technology

5. Implement your Projects, then Monitor and Tweak to get the best results

6. Start to document what you do, so you can start leveraging other peoples time & build value into your business

7. Review: Vision & Goals quarterly, then Projects weekly

8. Create cycle for #’s 4, 5 and 6: Building up your skills, implementation and documenting (systemising)

It’s not complicated, but it does take effort. Regular and consistent effort.

And it’s also helpful if you can copy what someone else has done to get to where they are today.

Do you agree?

That’s why I’ve created the Solo Journey

Click Here to find out how to be part of The Solo Journey (Free or Paid options): Find Out More