Tap the gear icon above to manage new release emails.
Follow Staff of Entrepreneurist to get new release emails from Audible and Amazon.
The only way to realize any of your life goals and dreams is to have the time and resources to fulfill it.
Except most of us are spending most of our time working to pay our student loans, apartment rentals or even making ends meet in a household with your spouse and two kids.
You know that you have the ability to make a change and prove your potential but just haven’t got the chance to show it. You are frustrated and just don’t know where and how to start. It’s bad, but look on the bright side!
Starting a business is one of the best ways for you to be able to achieve work-life balance to fulfill your life goals. However, you feel that you were never not born to have the talent to build businesses. Right?
Neither do I.
However, most of the failures in businesses are not due to luck, bad business idea or lack of natural talent. Often, it is the business owner themselves that failed their business due to two factors; non-objective decisions, and poor system. Let’s elaborate.
In the trading floors like NYSE on Wall Street, every decision made in split seconds has to be objective and clear, due to the time and monetary investment scale of business is involved.
Studies revealed what makes or break a successful person in the high-stress environment; 80% was psychological factors and 20% technical.
Never were the technicalities that failed, it was always the psychological factors that made the traders, or in our context, entrepreneurs become overwhelmed by emotions that cause them to make impulsive decisions without control that yield devastating results like bankruptcy.
Now, you have understood that the secret to a successful business complies with the Pareto’s Principle or also known as the 80/20 rule.
You sure have some friends that tell you they have great dreams that they want to fulfill; travel the world, start an online business, quit their day job or stay in a fully paid apartment in the city area. However, most them are just talkers, not doers.
Often, those of them will give tons of excuses for not going for that run or read a book during their free time. And they will instead watch Netflix, play games on the phone, go party and do non-value adding activities that burn away their future. Sounds familiar?
Those are the people who are going to blame the world for their mess and failure in their future lives. They always live in the “Now” moment, visualize and plan for their future, and…... never take any actions, they fall back into their old habits and do whatever it is they used to be doing.
There is no one entrepreneur that succeed in the brutal game of business by talent or luck. Most of us put in extreme hard work, and many years of our lives to hone and strengthen our mind to meet all the extreme levels of psychological setbacks.
Yes, you’ve got it right, the first step to make a difference is to first invest in yourself. Like us, you will need to take massive actions and do the things you need to do so as to be able to achieve what you’ve always dreamed of.
You only live once.
At Entrepreneurist, we do researches and surveys on a wide variety of studies in entrepreneurship success related to technical, psychological, physiological and environmental factors.
We study what makes long-term and sustainable positive impact in an entrepreneur’s life which will, in turn, help you build and sustain a successful business.
Entrepreneurist strives to serve the community that helped you learn about entrepreneurship and reach out to those of you who need help with starting or growing your business.
To show our gratitude for your support, sign up to your free newsletter to receive exclusive personalized content, free promo book launches, and discount coupons right in your inbox!
Sign up for our newsletter at entrepreneurist.com
Read more
Read less
