The Reason Why Entrepreneurs Give Up

Over the course of the last 10 months I’ve been working for a company here in Utah valley that offers coaching and mentoring for new online entrepreneurs.

We provide coaching primarily for affiliate marketing and selling on Amazon, and I have been blessed with a front row seat to the game of online entrepreneurship. I have learned so much from some of the top internet marketing minds, including both Anthony and Adrian Morrison. I’ve also been taught and coached by a few 6 figure online business owners, and I couldn’t be more thankful.

The online businesses that I have started as a result of working for this coaching company have been far more successful than they would have been if I didn’t have access to top quality training content and mentors. That’s why I always recommend finding a good mentor who can teach you and guide you through the early days of your venture.

Unfortunately, though, I see many, many entrepreneurs give up. And it breaks my heart.

And although there may be many factors that lead a person to quit their online business, I believe that success or failure is largely dependent on two things: patience and belief.

PATIENCE

98% of the new entrepreneurs I speak with who give up simply don’t have patience. They come into the coaching program with high expectations and hopes that they’ll be making 6 figures in a few short months. When they realize just how time consuming and difficult it is to start an online business, they desire to back out.

They lack patience, or “the ability to keep a good attitude while waiting”. (Joyce Meyers)

Patience, contrary to what you might think, is active, not passive. Waiting in business doesn’t need to be the equivalent of waiting in a restaurant or at the DMV. Waiting can take the form of working without expecting immediate life-changing results.

Patience is a mindset and character attribute that is defined by having a long-term perspective while simultaneously having a short-term drive to achieve goals and work diligently.

Patience is waking up early and going to bed late to create content for your social media pages. Patience is creating a plan that you execute week in and week out, month after month, year after year, making changes along the way until you start seeing the results you intended. Patience is not giving up when things get difficult.

One couple wrote on our company Facebook page that after 8-9 months of working hard, they were finally starting to see the results they felt were possible. They worked hard every day, learned from their coach, and applied what they were taught. When they wanted to give up at the 4 month mark due to lack of results, they didn’t. Instead of doubting themselves and the Amazon business model, they doubled down on learning and growing, working and practicing. They focused on what worked and eliminated what didn’t. They relied on their motivation – creating a life of freedom and stability – and saw their future success as inevitable. And it worked.

They are one of many success stories. You can be, too – just be patient.

BELIEF

Along with being patient, we simply must believe.

We need to have confidence that we can actually succeed in our business. Believing requires optimism and hopefulness, and inspires us to trust ourselves and our mentors as we move forward.

Many of the entrepreneurs I speak with who decide to give up their online business simply don’t actually believe that they can make money online. Whether it’s because they were told by friends and family they needed to give up, or whether it’s been a year or more without seeing any real income, they develop the belief that making money online isn’t possible.

In my experience, we accomplish only what we really believe we can achieve. That’s why it’s crucial for us to have a big, crazy, insane vision for ourselves – because we just might reach it.

Too many entrepreneurs quit before they taste success because they lose the ability to believe. I was in this boat after my first Shopify website. I wouldn’t classify that first website as a complete failure – I ended up breaking even after selling it – but I also wasn’t super impressed with the results I worked for.

I experienced first hand the challenges of social media marketing, the drop shipping business model, and the stress of having an online business.

After I successfully transferred the ownership to another entrepreneur, I decided I was done with the whole online business thing. I realized it was just too much and that I wasn’t cut out for it.

A month later, I was hired as an online business consultant. Since then, I haven’t looked back. Seeing other entrepreneurs like myself succeed inspired me to try again and again. As a result, I have become even more passionate about ecommerce and have been way happier with my results – all because I shifted my mindset.

In all reality, success is possible. But we must believe that before making it a reality.

SO…

All entrepreneurs will face setbacks, challenges, and disappointments. All entrepreneurs will reach a breaking point where they either sink or swim. This breaking could come early or late in the journey, but it’s inevitable that a breaking point will come. No matter what this breaking point is, us entrepreneurs need to have patience and believe that we can overcome it. When the going gets rough, we need to realize that success doesn’t happen overnight while simultaneously believing that tomorrow could be our big break.

This blend of insatiable belief and everlasting patience will yield results.

We just need to remember that entrepreneurship is a long game. In the world of sports, entrepreneurship is more like a golf tournament than a basketball game. It’s long, sometimes boring, and requires full focus and energy over the long haul to succeed.

You just never know when your patience and belief will pay off and reward you tenfold for the work you’ve put in.

So stay patient. Keep believing.

And remember how amazing you are.

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