A Quick Way To Lose At Entrepreneurship

I was reading through a newsletter I frequently get and saw a Statistic that I knew pretty well.

It said 90% of Startups fail.

Now, I've heard between 80 - 92% of Startups fail before, generally depending on different timeframes (5-10 years).

However, there was also a new statistic that I hadn't heard, which is sad to see.

Of those Startups (90%), 82% fail due to a lack of funds.

Now, that doesn't surprise me at all if I'm going to be honest.

However, there is a lesson to be learned here as an entrepreneur (or anyone who works to make a business succeed).

Why is it that so many businesses fail due to a lack of funds?

It isn't like there aren't a ridiculous amount of courses you can buy on the subject.

It isn't like there aren't a ridiculous amount of famous people online who tell you how to succeed.

It isn't like you can't find lessons online, for free!

From YouTube to Business Articles.

There are so many sources telling entrepreneurs how to make money, how can it be that over 80% still fail from that problem?

It isn't that those 80% are not cut out for it.

It isn't that those 80% don't have the desire to succeed.

It isn't that those 80% want to fail.

It isn't that those 80% want to lose their life savings.

It isn't that those 80% want to put their families on the streets.

It isn't that those 80% want to let their dreams slip away.

What is it that leads to such huge failure rates?

The answer is actually more simple than this.

All of those sources telling you how to "succeed" in business that everyone is following and telling you that you need to follow and learn from as well?

None of them work.

That's the simple truth of it.

At least, it doesn't work for the people following that advice.

There is only one individual who wins in that arena - the person "giving" the advice.

Sadly, there's a huge market around a bunch of "hype" that makes you feel good in business but ultimately doesn't help you.

You could do everything they tell you.

Yet you'll never see results.

They will tell you that if it doesn't work for you, it's your fault!

But it isn't.

They'll show you success stories that they have, saying if it worked for them it MUST work for you!

What they don't tell you is that those success stories account for less than 10% of their following (some less than 1%), and the other 90%+ are failing horribly following that same advice.

This is the lesson to take away.

When you look at an industry, and they tell you, "This is how to succeed", but the industry is failing - don't listen.

Don't be fooled by the hype and marketing they provide.

As you can see, 80%+ who are following their hype, teachings, and marketing are left penniless.

They are left feeling that everything was their fault.

They are left feeling that they were simply not cut out for it.

They are left feeling like failures who will amount to nothing.

They are left feeling stupid for losing their life savings.

They are left feeling unworthy of their families.

They are left feeling that their dreams are worthless.

The saddest part is that none of this is true.

The reality was that they were following the advice of people who make a lot of money from "looking" like they give great advice.

Those people make money weaving beautiful stories about things that aren't true.

When you see this, the best thing you can do as an entrepreneur is start looking for new paths that people aren't talking about.

Often success isn't difficult, but it does require you to go against what is "common".