There are 5 main reasons why entrepreneurs fail according to the document: 1) Fear of losing money - entrepreneurs are afraid to invest their money for fear of losing it. However, losing money is part of the learning process. 2) Negative people - others will try to discourage entrepreneurs and doubt they can succeed. Entrepreneurs should not listen to naysayers. 3) Listening to opinions of others - entrepreneurs should trust their own judgment rather than take the advice of others without experience. 4) Losing hope too quickly - entrepreneurs give up too easily when they encounter problems or disadvantages with their ideas rather than working to overcome challenges. 5) Not having strong networks - entrepreneurs need networks of contacts

1. WHY ENTREPRENEURS FAIL IN BUSINESS
There are 5 reasons why entrepreneurs fail or never make it to the top.
Everyone keeps saying to me it’s hard, otherwise everyone would be starting
their own successful business and making their own money instead of working
for someone.
But although the top reason that people fail in
business is because they never get started as they are
scared to risk their hard ‘earned’ money, one of the
main reasons is self doubt. Not believing in ones self,
makes us less determined and less ambitious. So here
determine
are five descriptive reasons, if you have any more to
add comment after reading through.
#1 Scared of Losing ‘Hard Earned’
Money
The top reason is one that a lot of individuals/entrepreneurs fall under, the fear
of losing hard earned money. Now let me tell you something, you are going to
t
lose money, you are going to learn from that loss of money and you are gonna
go on and lose more money, until you learn and until it suddenly hits you in the
face that ‘you finally get it’, you finally know what it takes to run a successful
and profitable business.
Money has no worth unless spent, so whether that’s building an empire or
spending it on clothes, don’t just leave it there, life's too short and you are not
life's
going to take it with you, so lose the fear and at least you can say you tried and
an
you failed, but trust me you will succeed as long as you know what you are
ed
doing!
#2 People That Put You Down
I cannot help but find this stupid but it’s true. People are always going to be
not
against you when you are just starting out, they will never believe you can be
just
as successful as you aim to be, because it never happened to them. Now when

2. someone tries to put you down, just think to yourself, why are they trying to
put me down? and the answer is because they cannot do it themselves.
Never let somebody tell you, you cannot achieve something. Soon as you start
‘making it’ being successful, those people that once doubted you are suddenly
your friends’ again. Why? because you have money now, you are successful
and they will probably try to get on your good side. I believe in forgiving, but
not forgetting.
#3 Listening Too Much To People’s Opinions!
Now I know this one may seem to be similar to the last point, but it’s not. In
this instance, what I mean is; people fail in business because they make the
wrong decision of asking people that do not have experience or a business mind
about what they think of an idea. Let’s face it, I don’t mean to be too
judgmental here, but some people are just meant to work for other people, they
have been brought up that way and they require security more than high risk =
high reward.
So to overcome this, ask people for their opinions but never doubt your own
opinion. Trust me when I say this, your end action should be as a result of what
you think, not what some stupid individual thinks, that cannot see the overall
picture in your mind. You know more than you think you do, so trust yourself
and make your own decision!
#4 Lose Hope Too Quickly
Now this is one of my biggest disadvantages that really bugs me and I need to
resolve it otherwise I am going to ultimately fail. Every individual that ends up
thinking about starting their own business, loses hope. The reason is it’s hard,
for every strong advantage of an idea, there are possibly about 3 disadvantages
and this results in us questioning whether we really have the skills and
experience necessary to make an idea of this proportion succeed in this
competitive environment.
For example if I get an idea and it’s good but also has several flaws which could
result in the idea ultimately failing, I lose hope. I don’t think to myself we will
overcome it and just run with the idea and learn on the way. So my next aim is

3. by September 2013 to create my idea and run with it and see what happens, of
course a calculated risk will be taken but more of not questioning my
entrepreneurship ability or questioning whether I will succeed.
#5 Not Enough Networks
Now I emphasise this because it is really important. The more people you know,
the more people that will look into your idea and direct it towards some of their
friends which may have the experience needed to support and consult the idea
to a large extent and maybe even invest so you do not have just your money
riding on this.
You have to remember that people are what move money around the world,
one service for another service. I may for example want to listen to music on
the go on my mobile, therefore that is where spottily comes in, because it is
cheaper than actually downloading every single album that I like, I just pay
Rs.100 and I can listen to any songs for 1 month. It’s supply and demand and
whoever believes in competition is not thinking very clearly for one reason. It’s
all about focusing on what you are doing and whether it will be successful, leave
competition for the other businesses to focus on and for you to later focus on.
Individuals will come to you for your brand and service. Just make something
unique and well and you will wonder why you did not start earlier.
Dr. Sekhar Basak,
Managing Director,
Innovista Consulting, New Delhi
Email: office@innovistaconsulting.com