You’ve probably heard about the term “wantrepreneur.” These are people who want to be entrepreneurs but never get started for one reason or the other. Becoming a successful entrepreneur is one of the toughest things you will ever do. If you think you’re a reasonably intelligent, skilled person, why haven’t you been able to make it big yet? It might be one of the following reasons.
You want to make money on the latest trend.
Too many people are just looking to make a quick buck. Depending on the flavour of the month, you might want to make a social networking app or an e-commerce website, or start a forex trading company. You need to ask yourself: do you actually know anything about the field in which you’re hoping to create a business?
Starting a successful business requires an intimate knowledge of the market, your competition and the motivations of the audience. Instead of jumping head-first into a hot market you know nothing about, try to leverage your strengths. Look for opportunities in the fields in which you are knowledgeable.
You don’t work hard enough.
There’s no escaping hard work. Even in the most lucrative markets, success requires diligence. If you want to become Mark Zuckerberg, you have to prepare yourself for 16-hour days for years on end. If you’re not getting where you want to be, you simply aren’t putting in enough effort.
You don’t have a long-term plan.
You might have flirted with the idea of entrepreneurship, but never considered how it might impact your life. How will you live, where and with whom? What will be your daily routine?
You need a plan, not a tenet written in stone, but something to keep you on track over the long haul. You can’t possibly predict exactly how your life will be five years from now. What you can do imagine is the broad strokes and fill in the details along the way. How might the market look in five years? How large do you want your company to become? How can you reach more customers? Answering these questions is critical to understanding the steps you need to take to achieve your goals.
If you’re guilty of one of these behaviours, change. Don’t let your past failures define you; get up, dust yourself off and vow to work harder than you ever have in your life. You have no choice but to succeed.