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Half of all entrepreneurs fail – watch out if you are not cut out to be an entrepreneur

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What a horrible topic! And on a site that is all about encouraging you to take the plunge and become an entrepreneur yourself. How the heck does that work?

The truth is that I'm going crazy with everyone calling for more people to start a business of their own - usually these people have never ran a company themselves (If it was so easy and amazing, then why don't they start a company instead of just pushing everyone else to do so?) They seem to imagine that if you just know how to do your books and pay taxes everything will be just fine and dandy.

Truth 1:
Most difficulties you face as an entrepreneur has one single remedy - stubbornness.

Truth 2:
90% of all businesses that go bankrupt do so because he/she who starts the company simply give up way too early. Most people who start companies have no patience with all the struggles that everyone have to face in the beginning.

Truth 3:
Most people in this world are hopeless dreamers. As an entrepreneur, you have to be an energetic worker!

A quick question for your conscience:
Are you an energetic worker or a hopeless dreamer?


Do you think Sweden's darling entrepreneur #1 - Ingvar Kamprad of IKEA – would have succeeded without fighting for it? It took him 30 years to build a gigantic company that started with him travelling around, selling what he could to local farmers. You may only want to run a company that supplies for you and your family, it doesn't matter - you will face the same start-up problems that Ingvar Kamprad had to face!

Truth 4:
If you have the ability to accept both successes and setbacks in your business, then you have a VERY good chance of succeeding as an entrepreneur. If you give up you have NO chance of success. And you know, it's the same for all entrepreneurs. To succeed, you need to stop being afraid of having to face and cope with problems.

Oh, and how do you become fearless? I know it's easier said than done. But the main key to fearlessness is to keep fighting and to be prepared to face hick-ups and struggles, especially in the beginning before you have found all those lovely people who you will call clients later on. It's all about working hard every day. (What you do every day eventually becomes a habit and that's what you need to develop and to get the courage to handle setbacks).


PS. I know another thing as well (and everyone I know who run successful businesses know the same thing): Once you have learned to use your persistence, you will thank yourself every day for breaking free and stepping out of the rat race!





About the author

Stefan Ekberg has worked in marketing for small business for 20 years and has written around 30 books on how small business owners can market themselves with limited resources. . In 2012 Stefan was nominated as Entrepreneur of the Year in Stockholm.

230 000 prescribes to his free newsletter "The 5 minute marketer"
Every week some 230,000 prescribers gets his free newsletter about 5 minute marketing.

"The 5 minute marketer" - the book
You run a small business and you want to get ahead of the competition, but how can you give resources to marketing when you're short on time and the budget is tight? The solution is here! The 5-Minute Marketer is packed with 395 tried-and-tested ways to market your business in 5 minutes or less.