How to tell if your business is headed for failure

avoid-failureWhy is it that a business will likely fail? From my experience in working with clients, it's lack of focus and continually chasing after BOS's – bright, shiny, objects.

When people say, “You can have it all and you need not make any sacrifices,” these people are usually broke and closing the doors of their businesses. You DO have to make sacrifices, but that's not such a bad thing.

**Sacrifice the television shows with no redeeming qualities.
**Sacrifice the social media time that sucks up your energy
**Sacrifice the cute videos that take up hours of time before you look up to see time has slipped away
**Sacrifice bad eating habits that make you crash and burn
**Sacrifice an extra 30 minutes in bed that could have been used for exercise to keep you sharp, in shape and competitive in your business.

Check out the article in Forbes.comhttp://www.forbes.com/…/five-reasons-8-out-of-10-business…/…

Truth be told, it's NOT always easy to run a business. After over 22 years in my current business, I've had my ups and downs. Good times, and tough times.

One thing I've learned is to watch who I take advice from. Who I surround myself with. And who I hire to mentor me. And yes, you must have mentors. If you're trying to go this alone, that's a huge mistake.

A mentor is someone who has more experience then you. It's unlikely you'll find everything you're looking for in one person, but be careful not to get direction from too many people at one time. This can cause stress, internal conflict and confusion.

What to look for in a mentor

According to a post on the SBA site, “In the first months of opening your business, you’ll need to make many important decisions. But you don’t have to make every decision on your own. Ultimately, you’re responsible for your business, but you can always consult a mentor for advice.”

Gain visibility

A big part of business success is knowing how to become visible. There's no shortage of ways to do so online. However, you have to pick and choose according to who your market is and where they “hang out.”

Here are just a few of the many ways you can increase your visibility, thus increasing your opportunity.

  • Bloggingkindle
  • Guest blogging
  • Radio interviews
  • Podcast interviews
  • Joint venture partnerships
  • Speaking at industry conferences

One of the best ways to become visible is to write (and market) Kindle b00ks. Learn how with my FREE webinar – The Power & Profit of Kindle Books.  It takes place on November 29th. Click here to register.

If you enjoyed what you read, be sure to join the Power Up for Profits Facebook Group. In facebook-imagethere you will find lots of like-minded entrepreneurs who are living lives of passion.

 

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