Why Do so Business Startups Fail?

Give up? No way! I've seen so many people in my life who were confident they would be successful, and then one day, it just seemed like the light went out of their eyes. They stopped looking forward to building their business or doing anything else because all that did was remind them about how far away from achieving this goal they really are.

But don't let yourself fall victim to these pitfalls- if you're not seeing any progress after months upon months of working hard at what seems like an impossible task right now, maybe taking a break is exactly what's needed before moving on again with new momentum later down the line.

I was chatting with a business partner about this recently, and this was the question we were asking ourselves. “Why is it we start out super excited and are sponges to learn all we can? Similar to little kids starting kindergarten. The start of something is exciting and thrilling. Uncovering the unknown and learning things we didn't even know we didn't know.”

That excitement is fun and contagious. We believe we can do it and proceed with that energy in us. But, we hit roadblocks, we get rejected, success doesn't come fast enough, and discouragement sets it. The belief we had, in the beginning, starts to fade.

How do we keep that momentum, that belief, that excitement??

The Kentucky Derby was run recently with quite the astonishing ending by a horse who wouldn't quit when the stats were completely against him. He lost his first race, and his owner put him up for sale in a ‘claiming race' where anyone could take ownership for a fee. The older gentleman who bought him said it was his last go at winning in the horse industry. The $30,000 horse against the million-dollar horses. Watch this video and be inspired!!

Rich Strike wins the Kentucky Derby!!

Entered the race the day before the Derby – 30 seconds before the deadline.

They only got in the race because the 20th horse had to scratch.

Started from the worst post position on the outside of the track.

He had to make his way through the field of 19 other horses from the back.

His race career; 7 starts, one win.

His jockey, Sonny Leon, had never been to the Kentucky Derby.

His trainer, Eric Reed, has never raced a horse in the Kentucky Derby.

Eric Reed tragically lost nearly two dozen racehorses in a barn fire a few years ago and struggled with quitting.

Eric Reed lost his two assistant trainers last year to cancer.

80-1 odds.

Rich Stike wins the Kentucky Derby

Staying on the Court and in the Game!!

When I was homeschooling my children, every year was a new start, a new beginning, and the excitement was incredible. We had a new curriculum and a new schedule, and we loved looking forward to the topics and projects we were going to learn about that year. The new challenge was exciting!!

One of the strategies I implemented as the year went on and other activities looked more enticing, and children's enthusiasm lagged was to change things up. We would take a day and play games that incorporated the lessons they were learning. We would take our schoolwork and go to the park, or even sometimes, if we really needed a change, we would go on a trip to grandma's house and possibly even visit places that enhanced their education on the way.

Just breaking up the routine gave us a fresh start. Even if it was sending overactive boys out to play in the mud!! (You can always do a science experiment…😆)

Take a break and play in the mud!!

It's important to do things that excite you and light you up. Not every task is exciting, but you're not too far from quitting completely if you allow drudgery to set in.

Adults are not a whole lot different

As adults, we think we just have to keep doing what we are doing and the results will come. The guru said to be consistent with the program and the results will come.

I do completely agree with being consistent with the process. There are things we need to do every day in growing our business. But, my challenge is…. do we have to do it the same way all the time or because it has worked in the past for so many.

Just as children lose enthusiasm, adults get distracted and bored. How do you keep the excitement for growth while doing some of the mundane things that we need to do?

We know we aren't quitting because our hearts are in the race and the goal is straight ahead!!

But, the other horses are better trained and more talented. I'm tired of dealing with the paperwork…… 🐜 🐞

Conquering the Mundane

In the past, I have gotten discouraged and frankly bored with building my business at times. At least for myself, I know that if I am not challenged or conquering a new idea, my mind wanders and isn't so productive.

I am not promoting buying all kinds of programs to challenge yourself in a new area. Or following the next ‘shiny object' to keep your mind growing. But, always having a growth mindset is incredible to keep momentum in your life and business.

I've recently been reading the book Key Person of Influence by Kevin Harrington and Daniel Priestly.

This book talks about evaluating your life the ups and downs. The lessons learned and accomplishments achieved. What in your life excites you, and what talents did you discover?

If you build a business around those things, it isn't drudgery anymore. Too often, I've encountered entrepreneurs that are following someone and doing what that Guru is telling them to do, but they don't enjoy it and aren't having success.

The world has changed these past two years, especially in 2021. The number of new businesses for 2021 was 5,388,282 million, which is astounding. Businesses are popping up serving underserved niches. You don't need to know everything about a huge niche like Health and Wellness.

What specific area in Health and Wellness are you passionate about?? Avoid overwhelm and find that niche that lights you up, and you could talk about it forever.

In this book,Key Person of Influence, they delve into the idea of specializing in micro niches. Those talents you discover about yourself will lead you to a micro-niche where you can be the Key Person of Influence in.

When you're doing something that lights you up, you're a lot less likely to give up on it.

An Extra Kick in the Butt

Being an entrepreneur is something we choose because we want Freedom. Time freedom, geographic freedom, and Financial freedom. Just because we are in business for ourselves doesn't mean we need to do it by ourselves.

Surrounding ourselves with like-minded people helps our business and helps you to stay excited about what you're building. Having a community of entrepreneurs from all over the globe, there is always someone awake somewhere.

I love being challenged, supported, and inspired by other entrepreneurs. Within our community, we have daily trainings, new opportunities for growth, conversations of encouragement, and accountability to support you in your growth.

Being a part of this community has taken away the opportunities to get distracted for me. Staying plugged in and learning new ideas or being reminded of things I hadn't done for a while. All keep my mind and focus in the right place.

This is the only training and community OFF Social Media that doesn't sugarcoat what it really takes to build a business with digital media marketing.

Check it out here: Truth Bomb Playground

To Your Success,

Heidi 🤩

PS. “I get it, not every day is roses and peaches…. you wonder why you are even doing this. We all make mistakes, we were all newbies at one point, but we kept pushing forward to become as great as we envisioned. You are human !!! Be kind, loving, forgiving to yourself ” – Chef Katrina, founder of Truth Bomb Marketing

    4 replies to "Why do so Many Business Startups Fail?"

    • Shirley

      Although I never homeschooled, I can certainly relate to many points in your post. I have learned to "change things up" and have also been working intentionally to rebuild my inner circle with like-minded people. Love reading your content, Heidi!

      • Heidi Albertson

        Thanks Shirley!! I too love being intentional with building my inner circle!! Thanks for commenting!!

    • Jen Jones

      I love this Heidi. Thank you for being transparent. It isn't always easy being an entrepreneur.

      • Heidi Albertson

        Thank you Jen!! You’re right it’s not always easy but, when you truly enjoy what you do it certainly makes it all worth it and the rewards are amazing!!

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