Insider’s Tips on Why Entrepreneurs Fail

Written By Gary Spirer Published November 5th, 2009

“Stop Trying to Boil the Ocean.”

That came from a venture capitalist friend and business associate.

The Reason: Many entrepreneurs feel that if their idea is large and sweeping, it will be more appealing.

A woman approached me.

Woman: has idea to teach women entrepreneurs a winning mindset.

Her concept:┬á she needs gobs of money to promote herself. She’s going to have a number of experts that she interviews and yada, yada, yada, yada.

My concept: She’s taking on too much.

First: Prove you are the expert. You have a following. You have some corporate sponsor.

Second: Get your specific niche defined and proven.

Third: Do not start interviewing too many others; otherwise, your audience will look more to the experts you bring than to you.

Reasons for failure:

  1. 1. Taking on too much
  2. 2. Creating self imposed stress
  3. 3. Going out of focus
  4. 4. Not sticking to a consistent message
  5. 5. Not establishing proof of concept
  6. 6. Not showing before and after results
  7. 7. Not showning measurable results so customers know what to expect

Boil your ocean down to a barrel where you know the fish and the fish know you and are eager to be hooked by what you offer.

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