Business obstacles are a common thing that we must understand and overcome if we want to succeed in a business. They can defeat us or make us stronger. If you want to get success and watch your business grow then take a look at these reasons for business failure with examples.
Before I reveal these common blocks to you, let me say that your success depends on your way of looking into things and also your mindset.
Let’s see the most common blocks in business that you can control.
1. Reasons for Business Failure with Examples
Lack of motivation is one of the most common factors which can prevent you to succeed. Maybe you started something but you stumbled upon a barrier that destroyed your starting motivation. How did you feel?
Motivation is undoubtedly connected with the goal that you have and your desire to accomplish it. So, how big is your desire to do something? It is simple if your desire is big. This way motivation shouldn’t be a problem.
But what about doing something that isn’t your favorite activity but you must do it to get closer to your goal? It this case you should ask yourself “Why do I want this to be done?”, “What will happen when this project is published?”
Every activity that you do has a meaning. So when you feel lack the of motivation, ask yourself why are you even doing it and your thought about a goal will lead you and move you forward.
2. Lack of Self-esteem & Fear of People’s Reactions to Your Work
If you have low self-esteem then you will have a hard time for getting where you want. Your business will surely suffer because of it. Are you unconfident as a person or are you not sure if your products or services are good enough for the market?
If you are unconfident because you lack self-esteem than you should sit and think why do you feel that way. Write on a list of paper the reasons why you think you are not good enough. When you are done, make another column where you will write what you can do to get better.
Let’s say you are not an open person and you have fear on how to behave in public. Your mission is to write activities that will help you to overcome this fear.
But if you are unconfident in your work and you are scared of what will people say about your products or services then you should repeat these questions:
1. Do I love my job?
2. Do I learn about my business all the time?
3. Do I give my best to satisfy customer’s needs?
4. How can I get better in what I do?
5. Do I have quality products or services for customers?
These are the questions you should ask yourself. If you are doing all that is needed to sell your work and if you answered on these questions positively then you shouldn’t worry.
3. Lack of Time
We have obligations and busy schedules and time is the most valuable factor nowadays. How can we do all that we planned in one day, not complain and end our day with a smile?
When you are doing business, you should know that we all have the same amount of time available. It is your decision how you will take advantage of it.
Some people don’t succeed because they spent more time having fun and working less. These people don’t have a strong desire.
Did you ever see a successful business man sitting and drinking beer for two hours and just talking about the weather? I didn’t see any and I know what their secret is.
Their 24 hours are spent on activities that relate to their business. They spent time learning or socializing with people that have the same interest or can help him to grow their business. And how do you spend your time?
4. Lack of Money
Money rules the world. Without money we are deprived of quality life and we struggle to get through. Having money is vital when doing business but sometimes it is not necessary to have much for success.
Today we have many online businesses, so costs for starting a business are not that big. Online business requires some basics and money is needed to publish your website, blog or e-commerce online.
The first thing that you need to take care of is thinking of a business name, buying a domain and hosting. Hosting companies have different packages from which you can choose, so you can start your online business with the small amount of money that you can afford.
You can make adjustments when it comes to money even if you haven’t got online business. If you are a photographer and you don’t have enough money to buy a camera that you like, make a research of cameras available on the market. Decide which is the one that you could work with and still do a successful business.
Every start can be hard but when you make some adjustments and break through, your business will grow and you will be able to buy desired equipment.
Also think about where your money goes. How much money do you spent for having fun and how much do you invest it in your business?
5. No Will to Learn
Learning is a process that every business needs. At the start of your business, you will need to learn new things that will help you make quality products or give quality services to the people. Knowledge is power as they say because you can use it for making money.
Let’s say you are doing internet marketing for other businesses and individuals. You are learning new approaches on how to advertise on the web.
You will constantly have to learn and research new approaches to online advertising that will be competitive and effective.
Learning takes time, money and other factors, so every five blocks that I mentioned in this post are linked to each other.
But do you know what is the common factor for making these blocks go away? It is your burning desire for doing something that you love to do. It can be your hobby (or it could be). If you like your business and you have a burning desire for making it happen then you are capable of overcoming all blocks that come on your way.
These were reasons for business failure with examples that you can consider. Also think if the business you want to open is your burning desire because all depends on this…