What I’m about to share here is some tough love and it’s not to discourage anyone, but to expose you to the harsh realities of life.
In the past couple of weeks, I’ve done nearly 20 one on one strategy sessions with people who are existing business owners and those who want to start a new business.
When I asked questions about their vision, their reason for starting their business and what makes them think the business is right for them, I began to see a repetitive pattern of people who are not ready for the harsh and unforgiving realities of running a business.
I completely understand the realities of many people who feel like they don’t have any other choice because they couldn’t get jobs; this used to be me.
I graduated at the top of my class and couldn’t get a job for years, after applying 502 times! Necessity forced me into Entrepreneurship and boy, did I fail! I failed in 9 out of 13 business ventures I started so far.
Some of those failures were minor ones, others were more devastating. However, the difference between me and so many entrepreneurs and would-be entrepreneurs, lies in the fact that I gave myself permission to fail, I failed plenty, but I failed forward, I was courageous to try new things and find out for myself which one I was best suited for, and finally, I devoted time and resources to learn.
When I started studying for my MBA in 2015, I wasn’t trying to get a job. I was learning the rudiments of Business systems, processes and strategies. I had almost rounded up the program when I dropped out to take care of my mum. My thesis is still on my laptop.
I paid to have Coaches and Mentors. I have traveled out of the shores of Nigeria to learn from role models. I have committed my time and an immense amount of resources to become a better person and to develop my skills. Above all, I’ve taken massive risks which either sucked or paid off big time. I can back up my brag.
Entrepreneurs are risk takers but when I speak with some entrepreneurs and would-be entrepreneurs, especially those from Nigeria, they are too scared to take risks and many times too lazy to take action.
Social Media has made it “look easy” for anyone to start a business. You can open a Facebook Page or Group, or an Instagram Page and claim to be an Entrepreneur. There’s hardly any barrier to entry.
However, when it comes down to it, 95% of these so called businesses fail in the first 5 years and 70% fail in the first year, according to the United Nations Bureau of Statistics.
Now, it is up to you to ask yourself this one important question: “Do I really need to start a business?”
More importantly, for those of you who have already started but are struggling big time: “Do I really need to continue with this business?”
There is no shame in quitting your business to go get a job. Afterall, “what will people say” has never paid anybody’s bills.
There is absolutely no shame to pivot from one business to another if you feel what you’re doing is not right for you. You can decide to quit coaching and instead go into real estate or catering as long as it is what feels right for you and pays your bills.
There is no point killing yourself over a business that is clearly not right for you because you don’t want to be seen starting at the bottom again. No matter how long you’ve been in it, if it’s not the right thing for you, make a decision today to leave it.
Take some time to find yourself. Get clear on your purpose and your identity. Understand your values and belief systems and let them guide you in the right direction.
If you’re still contemplating your next direction for your life and/or your business, do yourself a favour and sign up for the School of Influence, visit here.
As you go through the Goal Setting Course included, you will find it easier to set goals that align with who you really are.
Once you’ve set the right goals that align with your values, you’ll then learn the skills and the tools you need to build a sustainable six and seven figure monthly income.
It’s not magic. It’s no walk in the park. Success takes hard work, smart work and dedication as I have demonstrated by example. To achieve this level of success, you must be willing to put in the effort too.
While you’re thinking about spending that money on holiday brouhaha, think about the cost to your business and peace of mind as well.
