10 Signs Your Business Will Fail This Year

10 Signs Your Business Will Fail This Year

Jan 15, 2014

Are you guilty of any of the habits below? I’ve been guilty of all of them at some point along my entrepreneurial journey. Luckily I’ve been able to replace most of my bad habits with empowering habits that lead to success.

What will it take for you to embrace healthy habits and build a successful business this year?

10 Signs Your Business Will Fail this year:

1. You Work Too Hard

You work endless hours and have no boundaries between work and the rest of your life. Instead of eating lunch, you catch up on email. Instead of the afternoon hike you meant to take; you get sucked into finishing your website. Instead of ditching your computer when your honey gets home, you finish up with “just one more thing.”

2. You’re Stuck in Poverty Mindset

This one is tough. I see so many women entrepreneurs stuck in poverty mindset. I was stuck here myself for many years. Poverty mindset causes you and your business to stay broke because you convince yourself you can’t afford to invest in support that could take your business to the next level. If you are committed to success you will find a way to make it work. If I did, so can you. As soon as I chose to end my poverty mindset cycle I doubled my income.

3. You Spend All Your Time on Minuscule Tasks

Facebook, pinterest, email, organizing your desk top… These are all distractions from the more challenging business tasks that actually lead to success. Tasks like relationship building, booking speaking gigs, and following up with leads should be your priorities.

4. You Don’t Keep Track of Your Daily Income

When you keep track of your daily income it forces you to stop avoiding your finances. Yeah, it sucks to write down zero some days, but it also motivates you to think about how you can increase your income on a daily basis. The interesting thing is that when you start to track your income it increases. Try it and find out for yourself!

5. You Don’t Set Scary Goals

Have you ever been so scared you won’t reach a goal that you don’t set one at all? The thought of letting ourselves down, or “failing” can be scary, but here’s the thing - if you set the goal, you’ll get farther ahead in the long run than if you didn’t set it at all. Why? Because you’ll take actions that you wouldn’t have taken otherwise. Isn’t farther ahead better than being stuck in the same place 6 months from now?

6. You Believe “Marketing” and “Selling” Are Dirty Words

Ladies, if you want to make your passion your life’s work, and be able to sustain that work so you can keep on giving, you must make great money! And to make great money, you must change your mindset around marketing and selling.

A couple quick tips: 1) Think of marketing as “heart-centered marketing” and provide tons of value through free, life changing articles and talks. 2) Think of your services as “life changing” and know deep down that your ideal clients will be extremely lucky to work with you. When people enter your life, know that it is “their time” to receive this life changing experience. The exchange of their money for your service is an exchange of two things of equal value.

7. Deep Down, You Don’t Believe Your Dream is Possible

Plain and simple. You must believe, from the depths of your being that the business you want to build is possible. Without belief, nothing is possible. With belief, anything is possible.

8. Every Time You’re Criticized, You Want to Give Up

If your heart is crushed and you want to give up every time someone says something nasty to you, you’ll never make it big. This is not easy. Believe me. I preach this stuff, and yesterday I received the meanest hate mail of my career. It was an excellent opportunity to practice letting it roll off my shoulder.

There’s a quote by Bill Cosby that helps me in times like this: “I don’t know the key to success, but the key to failure is trying to please everyone.” This quote reminds me that as my business grows, the chances of someone taking issue with something I do or say increases. This is inevitable as we expose ourselves to more and more people. If you want to make a big impact, you must learn to handle criticism and keep following your path.

9. You Don’t Do Something Everyday That Scares the Crap Out of You

I dare you to set a goal this year: do a business related task everyday that scares the crap out of you. Call new venues and ask for speaking gigs, follow up with leads from a networking event, contact Oprah and ask for an interview! What scares you will be different for everyone. What is not different however, is the fact that none of you will create successful businesses if you don’t dare to stretch beyond your comfort zones.

10. You Have Too Many Distractions

One of the keys to success is being able to focus on important tasks long enough to see them to fruition. Do you check your email every 5 minutes? Stop that! Turn email alerts off and limit email to twice a day. Do you jump on Facebook to post an update and 2 hours later find yourself commenting on your friend Sarah’s cute new shoes? Get control of yourself sister!

I like to schedule themed “retreats” where I focus on one important business task – distraction free. Right now I’m on a “Newsletter Writing Retreat” where the only thing I’m doing all day (besides eating chocolate) is writing my newsletter articles for the entire month.

If you found yourself in any of these bad habits, let it be your wake up call that you need to turn some things around. What’s the first step you’ll take to embrace healthy habits and build a successful business this year?

Be daring,

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