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This year Dmitry Kulikov Womens Jersey , over 800,000 of the approximately 2,000,000 start up businesses will fail!


Nearly 1,000,000 of those remaining will fail within 3 years. Why do so many businesses fail? Many studies show that approximately 98% of all failures occur because of the owners. The other 2% are a result of acts of God. Here are the key reasons and actions owners can take to avoid and overcome business failure:


Reason #1: The owner is not mentally prepared or motivated to run a business. There are three different ways to use your energy Patrik Laine Womens Jersey , and your physical and mental efforts to earn money. I call them the three "Games of Work.," and they define the types of relationships between people and their work. The rules that players have to follow to succeed for each "Game" are shown below.


1. Bureaucrats,: Do what it takes to protect or expand their position; Will divert responsibility whenever possible, but will take credit for desirable results of others; The success of the organization is secondary to kissing up to those who make decisions about promotions, salaries and job security; Have virtually no control over their job security; And are compensated for basically showing up.


2. Partial Entrepreneurs: Choose to be responsible for work performed or results achieved in their specialized field, but do not want responsibility for the total business. Have more control over their job and its security; And are paid for the specific results they produce. Examples of Partial Entrepreneurs include; commissioned salesmen Blake Wheeler Womens Jersey , multilevel marketing members, franchisees, and real estate agents.


3. Business Owners: Take full responsibility for their business; Are in full control over their job and its security (whether they know it or not); Have no one in the organization to kiss up to; Learn to pass on as much credit as possible; Constantly focus on the success of the business; And are compensated only from the profits of the business.


As you can see, the rules of a Bureaucrat and a Business Owner are completely opposites in all categories, and the Partial Entrepreneur is basically in the middle. The mental effort it takes to convert from Bureaucrat or Partial Entrepreneur to Business Owner is much greater than most people realize. Many business owners never fully make the transition.


Action: Before becoming a business owner in the first place, determine if you truly want and will operate under the Business Owner "Game Rules." If you choose to Mathieu Perreault Jersey , do so IMMEDIATELY, and COMPLETELY! To survive, let alone succeed, you must commit to operate under the Business Owner Rules 100%. Otherwise, you should seriously consider playing one of the other "Games of Work" that best suits your desires.


Reason #2: The business owner is unable to operate a business. The success or failure of a business depends on the owner. As the head goes, so goes the body. Running a business is completely different than any other "Game of Work Kyle Connor Jersey ," but, believe it or not, the rules are the same for all types of businesses. Far too many owners fail to take the time and energy to improve their own ability to run their business. This means that they need to grow as a person first and enrich themselves and discover their true passions and priorities to be able to have the maturity, drive, and energy to allow them to manage themselves and a business simultaneously.


Action: You will greatly enhance your chances for success by finding methods of self-improvement in all aspects of running a business, and continue the process throughout your entire business-ownership career. Obviously Mark Scheifele Jersey , as you become better at running your business, the success of your business will also get better. Many resources are available to you, including respected advisors, mentors, partners, "Godfathers Josh Morrissey Jersey , " and coaches.


Reason #3: The business owner thinks he knows what it takes to run a successful business and is convinced he is fully prepared to jump in. This is rarely true. The fundamentals of owning and operating a business sometimes referred to as the "rules of the game," are rarely taught in the U.S. school system. (See Global Entrepreneurship Monitor, published by Babson College and Kauffman Center for Entrepreneurial Leadership, July, 1999.)


We are led to believe that an education fully prepares us for running a business. In truth, the U.S. school system only prepares us to get a job Joel Armia Jersey , not create jobs. The fundamentals of successfully owning and operating a business are very different from getting and keeping a job. Unfortunately, most business owners are left to learn these fundamentals through the age-old process of "Trial and Error" with an emphasis on error. This "Trial and Error" dependence causes far too many serious and fatal errors, and leads to stress, financial damage, and eventual failure.


Action: Learn the rules of the game of business, other than through the "Trial and Error" method. The very best way is to find and use trusted mentors Connor Hellebuyck Jersey , advisors, andor coaches to guide you through the process of learning how to improve your capability to run your business to avoid the many errors others make. Frankly, the rules are simple, easy to learn, and are based upon common sense, and high integrity


Reason #4: The business owner tries to execute all three of the three basic functions needed for a business to succeed Michael Hutchinson Jersey , alone and without help. (See The E Myth Revisited by Michael Gerber). The three key functions a business must have executed to succeed are:


The Technical function, which is the execution of the actual service or product provided by the business. For example the drafting action of a drafting company, the auto repair actions of an auto repair company, the production of a boat of a boat building company.