The Biggest Challenge Keeping You From Small Business Success
Achieving small business success is one of the most rewarding things that can happen to entrepreneurs and professionals. While success could be measured a number of ways, most would consider a business a success if you’re able to work for yourself, have control of your time, and make money doing what you enjoy.
But there’s one big thing that gets in the way of small business success.
In fact, its a challenge that may be too big for some people and their business sinks quickly.
The challenge that I’m referring to is the lack of focus.
When I started my first business at the age of 21, it was a mortgage brokerage that did really well considering my inexperience in owning and running a business. I was great at getting clients and offering them great products and services so I decided to venture out on my own.
At that time I had a business partner that did quite well for himself as well.
Soon after we had our business up and running, I noticed things started to shift. My partner wasn’t performing as he one did while I was bringing in more and more clients into the business.
I came to find out that he was looking for success in any form so he started several other businesses and soon after lost interest in what we started.
There came a point where I was running the business on my own and that wasn’t what I signed up for.
About a year and a half into the business, I decided to sell my part of the company because it became solely my responsibility to make sure it remained viable but the rewards were not fully mine.
What happened next?
Within 3 months, the business was completely dead while I started my second company with my wife as a partner and we were doing well.
As an entrepreneur it is difficult at times to stay focused and engaged since it is fun to initiate new things.
The challenge that keeps entrepreneurs from ever reaching small business success is that they don’t stick around long enough to the one thing that they’re great at and never see the rewards.
I’ve known countless aspiring entrepreneurs and business owners that are now working for someone else again because they were never able to remain focused on the goal of reaching success in their businesses.
Does this sound familiar? Have you experienced the challenge of having a lack of focus? If so, it’s time to end that by deciding what you want out of your life and committing to reaching it no matter what the obstacle is.
I’ve learned that I am able to have multiple businesses at once. It’s just a matter of prioritizing and goal setting. I’ve decided I don’t start anything new until the previous business is profitable.
What can you do today to be well on your way to small business success?