This is Why 90% of Entrepreneurs Fail (and Why 10% Don’t)

It was Monday morning and I was looking for some inspiration. On my weekly mentorship call with Trevor Mauch, I asked him the question…

Ya know… the question that keeps your entrepreneurial spirit up at night – the one that you can’t shake…

The one that you need an answer to if you’re going to keep doing this…

One person sets out to build a business. So does someone else. The first succeeds while the second fails. What Makes the Difference?

At the time, I was setting out to build an Amazon selling business. I was going to invest $500 for a coach to teach me the ropes. And I was nervous as hell…


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I’d never invested money up-front in a business…

I’d tried a LOT of different business ideas over the years, only to fail and fail and fail again…

Nothing seemed to work, which is why I decided to invest in a coach.

Out of that context, I asked Trevor the above question. And his answer changed my life.

The person who fails at business thinks… “This is an Experiment. I’m Just Going to See What Happens.” The person who WINS at business thinks… “I’ve Seen Others Succeed. I Know it’s Possible so I’m Going to Make it Work!” They might not know when, but they’re going to be successful.

That’s what he said.

And – you guessed it – every single business I’d ever tried to build in the past, I had gone in with the mindset, “This is an experiment. I’ll just see what happens.”

One month later… I’d quit.

Every. Single. Time.

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Why?

Because it got hard – a whole lot harder than I thought it would get. And since it was just an experiment, I could bail. No biggie. Turn off the lights, lock the door, leave the house.

Move on to something else…

And do the same exact thing.

Over and over again.

When you think, “This is just an experiment and we’ll see what happen,” you’re already preparing to quit. You’re setting yourself up for failure. You’re giving yourself an excuse to get out and cut chords when the going gets tough. And the going ALWAYS gets tough.

Look, there’s a time to quit.

There’s a time to say, “This isn’t working and my time is better spent elsewhere.” But, if you’ve done your research and due diligence, quitting should be the exception, not the norm.

How do you do your due diligence on a business idea?

Simple.

How do you set out with the Mindset, “This is Going to Work, So I’m Going to Stick With It”? You have to find proof that the business model works. Which means you have to find someone else who is doing exactly what you’re setting out to do. If they’re succeeding, you can succeed. That’s your proof. That’s your anchor. That’s what you go back to when you get discouraged. They suffered through these business hurdles too and because they didn’t give up. You Won’t Give Up Either.

Think of it this way. Every time that you hit a barrier in building your business, other people are hitting that same barrier. Most of them are quitting (probably 90%). If you keep pushing through, you’ll soon find yourself as one of the few who succeeded.

Okay. Okay… I know what you’re thinking…

But what if the idea really isn’t working because something has changed? What if I do actually need to cut chords and do something else? 

Good point – there will be times where you’re better off quitting.

Which is why you should always set yourself a quitting date.

“If you must play, decide on three things at the start: the rules of the game, the stakes, and the quitting time.”

Chinese Proverb

In “The 4-Hour Workweek“, Tim Ferriss recommends a time-frame of 90 days when trying something new. You could also do 6 months. Whatever you decide, write down the date that you’re allowed to quit if things truly aren’t working out.

But here’s the kicker – you can’t quit until that date. Come hell or high-water, you have to stick with your commitment until then.

Why?

Because most entrepreneurs fail because they don’t stick with it long enough.

never-give-up

By setting a quitting date, you’re forcing yourself to stick with the idea long enough to know whether it’s going to work or not. If it doesn’t, move on. If it does, keep going.


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But don’t stop until that date arrives.

Most entrepreneurs fail because they quit too early. It gets hard and their mindset isn’t strong enough to face the chaos and push through the challenges. They cripple and quit. The winners don’t… They keep their head high and push through, regardless of what’s happening. There’s always a way!

So why do most entrepreneurs fail?

Because they set out with the wrong mindset. They aren’t ready to solve problems but are hoping that problems will solve themselves. It’s an experiment, and because of that, they can quit when it gets hard. But it always gets hard. So they always quit.

With my Amazon selling business, I set out with this new mindset.

The beginning was riddled with difficulties.

Often, I didn’t think we’d come out the other side.

One struggle at a time, I’d push through, thinking it was the end of my business. I’d get past one hurdle and another would pop up – but each victory inspired me to keep going, kept me invested in what I was trying to create.

3 months down the road, I’ve multiplied my money ten times.

Challenges still threaten my motivation and my business.

But each time, I’m less intimidated. I approach each with a little more confidence, a little more grit, and a little less fear.

Your real estate business is the same.

It’ll be difficult, but as you push through the chaos, you’ll find that you are far more capable than you first assumed. And each difficulty will make future difficulties easier.

Eventually, you’ll find yourself in the 10% that won – and it’ll be for one simple, solitary reason…

Everyone else quit. You didn’t.

If you want to be a scientist, run experiments. But if you want to be a successful entrepreneur, commit to your business with relentless bias.

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What PPC Keywords For Motivated House Sellers Net The Highest ROI? Our Analysis…

We analyzed over 3 million PPC search terms and nearly 5,500 house seller leads to find the 800 highest profit motivated seller keywords.

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