The Top 10 Traits of Unsuccessful Entrepreneurs

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Last Updated: February 24th, 2020

Man leaned over looking at paperGuest Post by Scott Lindsay
 
Being an entrepreneur allows great freedom and ensures you are earning a living doing something you love. However, approximately 90 percent of startup businesses will fail. This failure is almost always due to the people who started the business, their habits, behaviors, and other traits.
 
If you want your business to fail, these 10 traits will have your business venture underwater in no time:

1. Make plenty of excuses

Personal responsibility is never fun, so make plenty of excuses regarding why things are not getting done or working out as you had planned. Always blame others for your misfortunes and the problems that your business experiences.
 
Blame the economy, use the excuse that you ran out of time, and target your employees or business partner. This will make it much easier to swallow the failure pill once your business goes under.

2. Be lazy whenever possible

Running a business is a lot of work, but if you are the boss, you shouldn't need to actually do any of it. Push off all of the work on your employees and other people associated with your business.
 
Sleep in late, spend your nights spending the money your business earns, and do not bother learning more about your industry. The lazier you can be, the faster your business will crumble.

3. You know everything

You started a business, so this means that you know everything about entrepreneurship and your industry. There is no need to learn more. Let your ego be your guide in this venture.
 
If you find yourself stuck, let your pride stop you from asking for help. Ensure that your confidence remains high even when your profits hit an all-time low.

4. Procrastination is king

Work is hard. It is more fun to sleep in and enjoy your hobbies. Procrastination allows you to focus on the fun while putting the actual work on the back burner.
 
Running a business means needing to complete multiple tasks every day. Some of these are mundane and many are completely overwhelming. Breaking these down into smaller tasks makes them easier to complete, but it is even easier to just procrastinate and ignore the work.

5. Stop listening and just talk

You are the boss, so what you have to say is more important than anyone else in the room. You are going to run your business according to your terms, and the opinions of others are just noise.
 
Effective leaders listen more than they talk. But, as a budding entrepreneur, you clearly have the experience and knowledge necessary to succeed, so just keep talking your way to business failure.

6. Risks are just not necessary

The safe zone is comfortable, like a soft blanket that envelopes you in warmth and makes you feel good. Risks will just push you into an uncomfortable place and force the growth you feel you do not need.
 
In truth, risks are a necessary obstacle that you must overcome to build your business. However, risks are hard. They force you into an uncomfortable place, so you might as well just skip them so that you can experience that lack of success that comfort brings.

7. Envy the accomplishments of others

Before you dipped your toe into the entrepreneurship pond, you looked at others who found success. Keep focusing on them instead of yourself. Let envy guide your thoughts and decisions.
 
When you run a business, you need to put most of your focus on it. This is especially true in the early stages. However, if success is not your ultimate goal, keep reading Forbes and envying those who clawed their way to the top instead.

8. Continue hoping that others fail

No matter your industry, numerous businesses are opening and operating. You want to be number one and the easiest way for this to happen is for the other entrepreneurs around you to fail miserably.
 
Focus on their failures. Hope that they do not succeed. This is much easier than putting in actual work to help your business venture succeed.

9. Money fixes everything

If your business has a problem, just throw some money at it and it will go away. Don’t worry about your budget or finding more creative ways to solve issues. Money will be there to help you through the toughest times.
 
Of course,  money is not an infinite resource and will eventually run out. Successful entrepreneurs find creative solutions, but just keep throwing money after your problems until you quickly bring your business down.

10. Keep fearing change

Change is uncomfortable. It forces you to abandon everything you once thought to be true and right. Since change is hard, there is no need to try it to ensure success in your business venture. Instead, resist change and keep failing in the same ways while hoping for different results.
 
Make note of these traits and behaviors. If you have them, you either need to change or be prepared to put up a “closed” sign permanently on your company’s front door.
 
 
Scott Lindsay is a lifelong entrepreneur with over 30 years of small business experience and currently runs the home business website called VETTED OPPS. He achieved financial freedom in 2008 and now spends his time helping others find business success.

 

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