The 3 Reasons Most People Fall Short at Entrepreneurship
I chatted with mega hustler Gary Vaynerchuk to find out what you can do to not fall into the very crowded space of wannapreneurs.
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Being a former professional athlete, one of the hardest things I have ever had to do didn't involve blocking, tackling or going through the dreadful dog days of training camp. It was becoming a successful entrepreneur.
That might come as a shock, as you would expect having a 300-hundred-pound, angry, big and very agile offensive lineman trying to take your head off every single play would be difficult on you. Of course, football, and most sports for that matter, weed out the weak, undetermined and those who have no discipline at all. However, in my eyes, entrepreneurship is the true test of mental strength, guts and courage.
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A great majority of entrepreneurs and aspiring business owners fail. We have been hearing that for a while now, and if it isn't some news source or latest research telling us how hard it is to make it in entrepreneurship -- family members and friends are sure to give you their input on how you are out of your mind for even contemplating bringing an idea of yours into the marketplace.
Why is it that most entrepreneurs fall short, or even worse, never even get off the ground? I had the wonderful privilege to chat with entrepreneur, New York Times-bestselling author and mega hustler Gary Vaynerchuk this week to find out what you can do to not fall into the very crowded space of wannapreneurs.
Here are three reasons as to why most entrepreneurs fall short.
1. No faking it
As Vaynerchuk says, "So many want to be experts in a field they never learned, experienced or mastered themselves."
One of the worst things you can do is enter a space you know absolutely nothing about. Vaynerchuk was in the wine business and learned, studied and practiced what he preached long before he ever claimed to be an expert.
What's something you're really great at and actually know a lot about? Play to your strengths, not your weaknesses.
Related: Why Most Startups Fail
2. Work ethic
This is one of my favorite topics because I have the same point of view as Vaynerchuk on this point. Maybe it's being a former athlete that has something to do with it, but I truly love the dog days, the work, the hustle. Whether you follow Vaynerchuk on Twitter, Facebook or watch the value-packed GaryVee show, you will know that Vaynerchuk is a major hustler and preaches the importance of having a ridiculous work ethic.
"Way too many people aren't putting in the hours but want the results as if they're working 18-hour days for 10 years straight," Vaynerchuk says. "The fact of the matter is this: Way too many people aren't reaching their biggest goals in life because they lack in hustle."
3. Watch the puck
Wherever I go and speak, I always talk about the importance of having a vision and taking the time to get really serious about your legacy.
"There needs to be an aggressive need for anticipation to where things are going," Vaynerchuk says.
It's also important to understand that where you are now has absolutely nothing to do with where you can be five, 10 and 15 years from now. Having a long-term vision is what's going to help you overcome some of the hardship and tragedies that you definitely will eventually experience as an entrepreneur.
Whether you love or hate him, Vaynerchuk is an incredibly successful entrepreneur who we all can learn something from. He understands what it truly takes to dominate the marketplace and take your business to the next level.
I hope you don't let these three reasons be why you don't succeed as an entrepreneur. You have what it takes. Be a master of your craft, work ridiculously hard and get serious about where you want to take your business 10, 20 and 30 years from now.