The Deadly Mistake Most Black Entrepreneurs Make!

After consulting and coaching new and seasoned entrepreneurs over the last year I kept hearing the struggles and frustrations of building a successful business.

I took notes and studied websites, analyzed plans, and products and marketing strategies into the early morning hours trying to figure out what was the issue.

Why was there such broad dissatisfaction, frustration and struggle?

I kept reflecting and reviewing and then it clicked. I was talking with and consulting Brothers and Sisters who were in all types of industries and categories, yet all of the obstacles they expressed kept pointing to a core cause.

Funny thing is I touched on the subject in my report ‘How to Be a Black Entrepreneur in the New Economy’, but I didn’t fathom the depth of what I glossed over.

Decisions

In my report I went into detail the importance of entrepreneurs being able to make decisions.

I talked about different levels of decision making; if you are unfamiliar with my view on the topic, you can download the report here and read it.

We also discussed how many enter the entrepreneurial arena by default, not really a deliberate choice, but because the alternative was no job, no income or some other instance that forces you to do something for yourself.

The Decision Most Entrepreneurs Get Wrong

Have you ever heard that all we are “are the sum total of the decisions we make”.

Yet we rarely give much thought to key decisions that have a tremendous impact on our lives.

And for entrepreneurs the key decision is…

What Type of Business you should Start!

This is the core problem.

People are just jumping into any type of business because they like a particular product or service or maybe they are hyped up over the compensation plan.

They never give a second thought as to the impact this business decision will have on their future and the future of their families.

So the business is started and already doomed for failure.

Now you may be asking, “What is so important about the business you start?” “It shouldn’t make any difference…right?” “Money is Money”.

WRONG!!!

I used to think like that until I understood that the labor you perform for income, your work, your business is the activity that you’ll spend the most time on daily.

I want you to think about that. You, as an entrepreneur, will spend more time on “your work” than eating, sleeping, bathing, exercising, and in some cases resting.

You will spend more time with your work than with your family and friends.

Life=Time

If something is going to take away the valuable time that you would spend with your spouse or significant other or your children, don’t you think you should give some serious thought to it.

You should really consider how you feel about that work and the results you get from that work. I mean this is key to your overall happiness.

That’s why when you are building a business it should be work you enjoy, work that grows you, and work that brings happiness and fulfillment.

That is the complete opposite of what most of the entrepreneurs that I have been working with were experiencing. They were dealing with continuous disappointment, frustration, struggle, and really pain from working in an area that brought them no joy.

The Right Business

In fact, when I talked with many entrepreneurs they wanted to talk about other things instead of the business they were involved.

You could easily see that the business they were in was not the right business for them and the longer they continued in that business the pain would continue.

Can’t you see how important it is to think about the business you choose to start before just jumping in.

Tomorrow I’m going to discuss the Two Pillars of a Successful, Joyful, & Excellent Business!

I hope to see you back then!

Please post your comments below and tweet this post to those you think would be interested.

Take Care!