The Problems That May Be Holding You Back From Success as an Entrepreneur

When it comes to reasons why you’re not making it as an entrepreneur, it’s quite easy to find a reason and blame an external force. In reality, however, you’re your own worst enemy and, more likely than not, it’s your own bad habits and life choices that are holding you back. The key to overcoming this problem lies in figuring out which of these habits are the most harmful and doing all that’s in your power to fix them. So, here are the top five things holding you back from succeeding as an entrepreneur.

1.  Your previous career choice

This particular issue is definitely not one that’s easy to figure out. Why? Well, because it’s one of those damned-if-you-do-damned-if-you-don’t scenarios. You see, quitting your full-time job too soon is a bad idea, seeing as how your business might take a while to take off. On the other hand, if you decide to stick to your day job, you might get too exhausted to fully dedicate yourself to your entrepreneurial career. Either way, the best course of action would be for you to amass enough money to get you through this period and dedicate yourself to your entrepreneurial goals 100 percent.

2.  Not having all the answers

Trying to have an answer to every problem before it even arises is a completely futile attempt, as well as something that can seriously derail you from your primary objectives. You need to understand that even with expert counsel and elaborate research, you simply cannot have every outcome planned out. Sure, you need to have a primary plan and a contingency plan for your budget, however, you can’t foresee every single unexpected expense that comes your way. This is why you need to have flexible solutions rather than stick to the original plan at all costs. In other words, answers will come in time.

3.  Not self-improving

Even if your English is admirable, the truth is that if it’s not your native tongue, there’s always some room for improvement. This can be achieved through reputable PTE classes. In fact, they say that it may take you about 10,000 hours to master any skill, so, even if you consider yourself to be self-proficient in any field, you need to ask yourself whether you’ve really invested these hours. You should take at least 20 minutes every day for self-improvement; and with e-learning and the implementation of micro-learning on your side, this is easier to achieve than ever.

4. Understanding your finances

Speaking of finances, there are a couple of principles you need to understand in order to increase your odds of making it. First, you need to have an emergency fund to draw from. A new enterprise may take anywhere from six months to two years to become profitable, and in this period, you’ll still be obliged to cover operational expenses. When it comes to your cash flow, you need to have a method of improving it. Applying for a new loan, a line of credit or even selling invoices are just some of the solutions that you may have to use.

5.  Not being good with networking

Regardless of your industry, field or area of expertise, the truth is that in order to advance, you need to learn how to make friends. In general, people are interested in their own needs, far more than into their own dreams and aspirations. Therefore, you need to learn how to A) show active interest and B) figure out what they want. Tips and tricks that should help you figure this out take a lot of time to master and a great start for this can be found in books like How to Win Friends and Influence People.

The very last thing worth mentioning is the fact that by tending to these five issues, you’ll not just grow as an entrepreneur but as a person, as well. In other words, overcoming these several problems will help you develop a winning personality.