I don’t have all the answers to why a good majority of businesses fail. I really don’t. Some patterns are obvious. Just yesterday, an Internet company called Akimbo closed it’s doors and in the process lost 56 Million dollars. In this case, there cannot be a single predictor as to why Akimbo failed. There were just too many people involved in its demise.

But when it comes to small businesses and especially a sole proprietorship business, you can determine exactly why and how a business fails. It is the person behind the business who is 100% responsible.

In my experience, a business fails because the person behind the business fails. A business, just like an object, needs a push, navigation and consistently so to get from point A to point B. And this navigation is done by the business owner. It is never that the business which fails. It is always the people managing it, who fail.

Sure, there are some pretty bad business concepts out there. But bad business concepts are known to have worked as well.

A business, especially a new start up business is no different than a job in many ways. It requires work and lot of work. It requires more work than you will have ever worked in your entire life. A business is your baby. You will need to teach the business to take baby steps before it learns how to walk and run. You will need to nourish the business and help make it grow. you will need to be consistent. You will need to be committed.

Do you know why most businesses, especially new start up businesses fail?

It is because they do not apply what most people apply at their jobs.

A job is a designation where you work and get paid.
A business is a designation where you work and MAY get paid.

You apply to get a job.
You choose to get into your own business.

You are entrusted with responsibilities at your job place.
You take responsibilities upon yourself with your own business.

You put in your time and effort at your job and get paid.
You put in your time and effort at your business and MAY or MAY NOT get paid.

Your job more or less is guaranteed to pay you in proportion to work input.
Your business gives you no such guarantees.

Your job is not an investment. You get paid for your time.
Your business is an investment. You get paid for your time now and for your future.

A job requires hard work predetermined by your employer.
A business requires hard work determined by you.

Your job requires you to be punctual at work.
Your business requires you to be punctual at work.

If you are late too often at your job, chances are you will get fired.
If you are late attending to your business, chances are, you won’t fire yourself.

If you do really well at your job, you MAY get a promotion.
If you do really well at your business, you WILL get more profits.

Your job comes with built in rules you must obey.
Your business comes with built in rules you will need to figure out and then you must obey.

With your job, you work for your employer.
With your business, you work for YOU.

At your job, if you work less, you get paid less.
At your business, if you work less, you get paid less.

If you don’t show up at your job, you don’t get paid.
If you don’t show up for your business, you don’t get paid.

Your job monitors your accomplishments by analyzing daily work input.
You need to monitor your own daily work input.

Your job is not 100% secure.
Your business is only as secure as you make it to be.

Your job does not reward you for failure to accomplish goals.
Your business does not reward you for failure to accomplish goals.

No one can fill for you at your job so you can get paid.
No one will do YOUR WORK for your business so you can get paid.

Your job may not require you to sell.
Your business requires you to sell.

Your job may not require you to advertise, promote and conduct marketing.
Your business requires of you to do advertising, promotion and marketing.

If your employer fails to make a profit, it is not your fault.
If your business fails to make money, it is YOUR fault.

You can blame your employer if you do not get paid for time put in at your job.
You cannot blame your BUSINESS for not making a profit. The blame is on you.

Your job requires you to sacrifice time.
Your business requires you to sacrifice time, money, and some personal desires.

Your job does not require you to take financial or maybe personal risks.
Your business requires you to take financial, personal and unseen risks.

Your job does not pay you to day dream.
Your business will not pay you to day dream either.

Your job pays you for specific actions you perform at your workplace.
Likewise, Your business will only pay you for specific ACTIONS you take.

You have to be consistent at your job.
You have to be consistent with your business.

With your job, there is always a risk of getting laid off.
With your business, YOU choose to get laid off.

With a job, you can blame the job for how far high you can go.
With your business, you cannot and must not blame the business for your failure.

With your job, your employer is in control.
With your business, YOU are in control.

With your job, the employer is 99.99% responsible for everything.
With your business, YOU are 100% responsible for everything.

You may find reasons to point fingers at your job.
You CANNOT & MUST NOT point fingers at your business. The fingers are pointed at you.

At your job, if you don’t live up to expectations, you will fail.
With your business, if you don’t live up to expectations, you will fail.

Your job is a SYSTEM.
You business is a SYSTEM.

If you don’t follow the job system, there will be bad results.
If you don’t follow your business system, there will be bad results.

The point is, you must treat your business as a job and do much of what you do at your workplace where responsibilities are concerned.

If your business does not wake you up at 6 am in the morning like your job does to you everyday, then you might as well not be in business.

The business never fails. You do!

Never blame the business. Do what it takes to make it work.

Stop giving excuses. Work hard and stop being lazy.

Take action. The only thing going on in your head must be planning. And that should not take more time than ACTION. Actions alone produce results. If you don’t act to get in the shower before you go to work, you won’t get there.

If you don’t act to catch that ride to work, you won’t get there. This is something you do like a robot. Don’t you? So, if you need to do something for your business, you must have the same push. You must have that same uncontrollable push you get what your job schedule calls you to do. You must have that same voice in your head calling you to get off your bed and leave your home for your office.

Considering you are 100% involved with a business.

Think 10% of your time.

Plan 10% of the time.

Advertise, promote and sell 80% of the time.

And the 80% requires that you ACT, INTERACT with other people in some form or the other.

Sitting in your apartment bedroom and dreaming scenarios won’t cut it.

Finally, have a strong and unbreakable commitment to your business. Do not give EXCUSES. Especially do not give excuses by pointing fingers at your business. Until you do this, you just may be better off having a JOB.

For some unknown reasons, at your JOB, you will do the same things required of your business.

Weird Huh!