4 Feb / 2020

Why Entrepreneurs Fail

I’ve been doing some thinking lately …

What’s been on my mind for these past few months — since I stumbled upon a set of eye-opening books by Gene Landrum, Ph.D. — is why so many entrepreneurs fail.

Why is it that some people seem to have what it takes to build successful businesses, while others tend to start and stop, start and stop?

Is the prospect of entrepreneurial achievement something that only the few among us are born with, or is it learned?

If you’re an entrepreneur, or you aspire to start your own business, what exactly is it that’s getting in the way of your entrepreneurial greatness?

Well, it’s two things:

The first is lack of knowledge. I find that most web-based entrepreneurs tend to break a handful of basic fundamentals — like choosing a niche, learning how to write copy, and creating high-value content for their ideal clients and customers.

Overcoming the “lack of knowledge” problem is fairly easy. I mean, everybody and her mama is selling online business courses these days.

But the truth is, most of the people who enroll in these courses will never finish them, let alone implement what they learn.

What’s up with that???

And that brings us to the second problem entrepreneurs run into …


I don’t mean to suggest that anyone has a “bad personality.” What I do mean is that there’s an entrepreneurial personality — particular attributes and traits that successful entrepreneurs almost always have.

Let’s get back to those Gene Landrum books and what I’ve learned from them.

Gene — who happens to be the founder of Chuck E. Cheese — did his doctoral dissertation on the personality characteristics of highly successful entrepreneurs and creators, and has since written nine outstanding books on the topic. I’ve read four of them.

Here are some of the common personality attributes he found:

1. Intuitive: Successful entrepreneurs lean on their guts when making decisions, and they have a way of turning down the left-brain and turning up the right brain to free up their creative juices. (Listen to this Thursday’s QOD for more on this one.)

2. Self-Esteem: Early in life, many (but not all) entrepreneurs were instilled with a positive self-image. They were given the freedom to take risks and fail without the threat of criticism. And they were rewarded for their early successes. Is psychology-speak, they received more success imprints than failure imprints.

3. Risk-Propensity: They learned that there is no possibility of success without great risk. Most learned this from their parents. Interestingly, one parent often earned his or her own money, setting the example and demonstrating the possibility for the child.

4. Rebellious: They’re willing to ignore the experts, do their own thing, and destroy the present in order to create the future.

5. Tenacious: They have a high AQ — adversity quotient. Obstacles and setbacks are met with perseverance and an indomitable will. They simply refuse to lose.

I know, it’s easy to read the above, assume you don’t have what it takes, and be totally discouraged about your entrepreneurial outlook.

But that’s not true. Because all of the above can be learned.

You can develop your will and intuition.

You can raise your self-esteem and change your self-image.

You can become a tenacious risk-taker.

It’s never too late to discover all of the entrepreneurial attributes that are already inside of you, just waiting to come out.

And here’s the best kept secret of entrepreneurialism:

When you Become a successful entrepreneur within, you’ll DO what successful entrepreneurs do to HAVE the results they get.

Online business and marketing courses are great and all, but they don’t show you how to develop the entrepreneur within. Which is why such courses seldom get finished and the information is rarely implemented.

And that’s what I’ve been thinking about lately.

If you’ve been a reader/listener for a while, you know that it’s around this time of year that I help Marie Forleo promote her B-School course — a fantastic online course for current and aspiring internet entrepreneurs.

Due to all of the above, I’d been on the fence about being an affiliate for B-School this year. Because while it solves the “lack of knowledge” problem, it’s missing the “personality” part. And rightfully so, because you can’t teach EVERYTHING in one course.

So here’s what I’m doing to solve this prob …

Next week I’ll be announcing my package of B-School bonuses — all of the FREE goodies you’ll get from me when you enroll in B-School through my link.

One of these bonuses will be a new 6-week course I’ve created called Intrapreneur Academy, to help you develop and bring out the entrepreneur within you.

Marie will show you what to DO.

I’ll cover the BEing part — the very foundation of all the success you’re gonna HAVE.

Be sure to go to scroll down and hop on my email list (and get the FREE Money Mind Reset ebook) for the next steps. More info will arrive in your inbox this Thursday morning.

Thanks for reading,


P.S. — Also, keep your eyes peeled for my B-School Scholarship contest!!!