Three Deadly Signs That Your Gambling With Your Business Instead Of Investing In It!
So ladies & gentlemen, did you happen to read the earlier post I did, on whether you may in fact, be gambling with your business, instead of strategically investing in it!
That post was coming from a slightly different perspective than this one. And it’s my sincere hope, that between these two slightly different perspectives being examined.
You can readily see and appreciate the extremely critical differences between, high stakes gambling with regards to your business and or strategically investing in it, for a chance at some highly fulfilling long term success!
This post is going to attempt to drill down even further and point out three all too common and potentially deadly signs, that (far more) than you may be ready to admit, determine whether all of your current efforts, with regards to building your business, may in fact be nothing more than glorified gambling!
As opposed to strategically investing in your business and or service….
So What Are These Three Tell Tell Signs You May Be Gambling With Your Business Instead Of Strategically Investing In It?
First of all, keep in mine, just because you may be trying extremely hard to convince yourself, that what you’re currently doing with regards to attempting to grow your business, is in fact investing.
When ultimately, in the end, it may well turn out to be nothing more than glorified gambling! Only maybe it’s cloaked in the clothing of good intentions.(And good old wishful thinking!)
That being said, (entrepreneur) in order to avoid certain catastrophe, it’s critically important, that you recognize these three potentially deadly signs, for exactly what they are!Glorified warning shots!
Otherwise, your titanic may come across the iceberg of adversity, that will ultimately sink it, along with all of or most of your entrepreneurial dreams and aspirations!
1.) Potential deadly sign # one: This very first, all too common, yet oh so potentially deadly sign, unfortunately is pretty prevalent.
Far too many wannabe entrepreneurs, will literally beg & borrow as much money as they can, and literally rack up mountains of debt , simply to live (on the surface)“The Life Of Byron!”
In other words, they want so desperately to give the false impression they’re living like a rock star!When in reality, all they’ve done is run up a bunch of consumer debt!And that in all likelihood, they can’t possibly ever pay back!
But when it comes to freely investing, (first) in their education about the particular business they’ve chosen to go into, they will initially invest (upfront) as little as humanly possible!In the name of conservation of course! 😎
Yet they still expect to be able to somehow compete with their much better funded and better prepared major competitors!Good luck with that one!
Wonder Why Gambling Instead Of Investing Is The Preferred Choice Of So Many Wannabe Entrepreneurs?
2.) Potential deadly sign # two: This next all too common, yet potentially deadly sign is this; unfortunately you’ve got a “nine to five”, “I’m taking off early because it’s Friday and I can’t wait to get to the weekend,” salaried employee type of mindset and or work ethic!
And not a, “I’ll stick with it until I get the job completely done, even if that means staying late, practically every night and most weekends too”, entrepreneurial type of mindset!And you always look to serve first and get paid second!
3.) Potential deadly sign # three: And rounding things out, this third potentially deadly sign is this; entrepreneur, so “how” over the years, have you totally convinced yourself, (and sadly) a few others along the way as well!
That simply because you are extremely passionate about something and or you’re extremely charismatic, that somehow this is a real substitute for either, some solid real world know how and or dedication to the task(s) at hand!
Nothing could be further from the truth!News flash! You can be as passionate as you want, that your son is gonna be the next “Lebron James” or that your daughter has more raw talent in her little finger than superstar “Katy Perry” has in every part of hers!
But that my friend, doesn’t make it so!
Don’t Bank On You Having To Be The Star Of Your Business Or Service!
And your so called undeniable “charisma” for what it’s truly worth! It won’t pay the rent,(or haven’t you noticed!) Nor will it persuade your local banker and or potential investors, to part with their hard earned money!
And it’s certainly no substitute for extremely hard work!So it’s best you abandon that particular approach now!Before it torpedo’s your chances for any real long term success!
Well, there you have it in a nutshell my friend! The three potentially deadly signs, you may in fact be gambling with your business, as opposed to strategically investing in it!Any questions? Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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Hi Mark,
Good stuff as always my friend. I’d like to hone in on potentially deadly sign #2 as it relates to the 9 to 5 mentality. As you stated that type of mentality – it’s Friday and I am going to leave early or it’s 5:00 p.m. and I am outta here is not going to cut it in the business world if you’re going to be an entrepreneur.
You need to be willing to put the work in and see everything through. If that requires you to work late in the evening so be it. If you need to wake up at the crack of dawn before the rooster crows then that is what you need to do. This can become a real issue for some if all they’ve known is the 9 to 5 and need that structure in addition to have someone telling them what to do and when. I understand that is undesireable for you and me, but some folks out there need that.
I think this is a big issue out there that can lead to them ultimately being unsuccessful as an entrepreneur. If you ask yourself the question – Can I become a motivated self-starter and not need someone telling me what to do? And answer yes, unequivocally then chances are you have a shot at being the entrepreneur you desire to be.
Good stuff Mark. I’ll be sure to share.
Kurt
Kurt Kummerer recently posted…Blog Color Schemes: Their Impact Discussed [With Infographic]
What you share is so true Kurt!
And unfortunately, so many individuals with the 9- to 5 or 9- 3
mentality, think they can be dynamic, trailblazing entrepreneurs!LOL!
But like you pointed out, if it takes literally getting up at the crack of
dawn and staying late, that’s what must be done!
And as you also pointed out, you can literally count them on one hand, those that are truly committed!
Great points! Thanks so much for stopping by and sharing your real world insights!Greatly appreciated!
Mark Newsome recently posted…Why Extremely Savvy Entrepreneurs Don’t Just Market Their Businesses They Leverage Their Efforts!Part Two
Hi, Mark.
That’s a great way o tackle this topic. Gambling is exactly what it is.
What I got from this is the importance of having real substance, and no pretences or slacking. Running a business is a serious thing, and therefore, requires a serious approach.
Thanks for sharing. Tweeting soon.
Nathan.
Nathan Ambrose recently posted…Help Your Business Grow By Achieving Your Goals
You are so right Nathan!
In fact, when it comes to successfully running an on or offline business,
especially in the very beginning, you really need to apply the 80/20 rule
as often as possible!
Meaning, 80% (or more) of your extremely limited time has got to laser focused on the
income generating activities and the things that definitely help you
move forward!!
And minimize the the remaining 20% as effectively as you can and be downright
vigilant about it!
Thanks so much for taking the time to share your proven real world insights!
They’re always welcome and so greatly appreciated!
Mark Newsome recently posted…Three Deadly Signs That Your Gambling With Your Business Instead Of Investing In It!
Well said Mark and you are so right about the dangers each of these issues present. In fact I’ve known more than a few people who have fallen prey to #1 attempting to appear successful to the world. What’s really disturbing is there are more than a few ‘experts’ out there that have encouraged people to buy into creating this false front as a smart business strategy. Thanks for bringing some common sense to the subject!
Marquita Herald recently posted…Maybe It’s Time To Reconsider Hope
Thank you M!
And sadly, in what was basically part one of this series, I’ve personally
known of the person was totally convinced, their inexplicable compulsion
to gamble on practically all three major sports, along with division college
football & basketball as well consistently gambling on the major annual horse
racing events etc!
That somehow they didn’t have a problem and a major one at that!
Of course they rarely if ever won anything and constantly owed a lot
of people money they rarely had!
It’s definitely not pretty as you can well imagine!
And as far your other point about the projecting the appearance
of success in face of the actual reality!
Hopefully they don’t mortgage the house or go too far in debt in order
to project the facade!LOL!
Thanks as always for adding nicely to the conversation M! I definitely appreciate it!
Mark Newsome recently posted…Three Deadly Signs That Your Gambling With Your Business Instead Of Investing In It!