In all my reading, I have not seen the phrase, “thou shall not fool thyself.” I am not claiming that the phrase is Biblical, but I do think it is one of the basic rules of business. And really a basic rule in life. I see people everyday that are trudging through their daily life thinking they are doing all the right things to succeed, when they may actually be living in a dream world and fooling themselves.
While I am on a spiritual theme, I will give you a list of 7 Deadly Business Sins that will absolutely without a doubt keep you stuck and wondering why you or your business are not prospering. Or, at least frustrated because your not experiencing growth.
1. Not Enough Marketing – There is a reason that I devote a large part of my time to coaching and teaching marketing concepts. Every vehicle needs some form of fuel to make it go. Marketing is the gasoline that makes the business machine go. Don’t waste the time of going to the pump, getting out of your car, spilling gas on your shoes, and stepping in gum for just $3.50 worth of gas. Fill ‘er up! I recommend that you have a minimum of 5 different marketing methods or funnels operating in your business at any given time.
2. Laziness – We live in an instant society where good old fashioned hard work has almost disappeared. Most people need to just do more. Get busy. Hustle. Stop waiting on someone else. Stop sleeping so much and watching TV. The 8 hour day is a myth to the true business owner/entrepreneur. I doubt that Sam Walton worked “nine to five” days. Check your schedule and see how much actual productive work you are doing in your business. Not just sitting around thinking about business or wasting time online but actual work. Always look for ways that you can get more work done and be more efficient.
3. Not Getting Educated – Most people reading this spent at least 12 years getting a basic education. Some even went on to get additional degrees to learn a trade or skill. It took me 6 years to get a 4 year degree at Georgia Tech! If we went to school for that long to learn how to work a $32,000/year job, what makes us think we can watch a few YouTube videos or Google “how to start a business” to learn how to become a multimillionaire business mogul? Always be in the learning mode. Read, attend seminars and always have an open mind.
4. Lack of Commitment – Many people lack commitment to anything, so we should not be surprised if they lack commitment to their business or even themselves. If you are not sold on your business and yourself, what makes you think someone is going to pay you $5, $10, $1000 or $10,000 for your product? If you are not absolutely convinced that you are going to make money in your business, why would someone invest $50,000 or $5,000,000 of their money with you? You may have heard that some animals can smell fear. Well, people that you interact with in business can smell your commitment level. Be totally committed to making your business work.
5. Being Cheap – There is a difference between properly managing money and just totally shortchanging your business. Anything worthwhile requires investment of time (see number 2) and money. Stop trying to make your business work without investing financially. I have seen a large number of business opportunities over the years including many that claim to require no money. Guess what? That is a big fat lie. Some businesses may require very little financial commitment, but “no money required” is a myth and possibly a scam. You must invest money in your business.
6. Expecting Business Results From a Hobby – If someone has a hobby, they know that it will cost them money and will never yield any profit. Don’t let your business be a hobby. It will be very expensive and frustrating. A hobby is something that you do sporadically as a means to relax. A business is something that you do everyday or on a regular basis because you know you can generate profit. A business cannot be put on a shelf. You should be spending some time in your business everyday if you expect to gain the results of growing and prospering enterprise.
7. Being a Lone Ranger – You can only reach a certain level of success all by yourself. It may sound very impressive to proclaim that you are a self made man, but I must admit I have never met nor seen anyone that is actually self made. You need to surround yourself with a team of people that can help you achieve big things. Hire staff or use contract work as soon as it is feasible. Everyone needs mentors or a coach in their life. Do not try to do everything by yourself.