Entrepreneurs
4 Reasons Entrepreneurs Fail and How You Can Avoid Them
So you know you want to go the route of the entrepreneur, blaze a trail and help people along the way. But how? You’ve heard the often quoted stat that 90% of all new businesses fail within the first five years. But what causes these failures? If you know what to expect then you can plan how to steer clear.
Here are four reasons entrepreneurs fail and how to avoid them:
1. Trying to do it alone
The story of the lone individual, working tirelessly in a garage (or at a laptop) and becoming a self-made millionaire is just that, a story. No one makes it alone. According to multimillionaire entrepreneur Jordan Harbinger,“The best people in any field always get coaching.”
You need a coach. It’s possible you have a mentor at this point. A mentor is often someone from your recent past, such as a college professor, manager from a job you’ve had or a friend who is a little further along the life journey than you. are A mentor offers free advice, allows you to bounce ideas back and forth and encourages you. Mentors are people of value in your life. But a mentor is very different from a coach.
You pay a coach for their expertise. Generally a coaching relationship is for a specific number of sessions over a defined period of time, along with some communication between sessions. Although a coach will encourage you, that’s not the primary focus. A coach looks at where you are, helps you discover where you want to be and walks you through the process to get there. The best coaches give you very practical steps to reach your goals, then hold you accountable for taking those steps. Your coach will push you further and faster than you thought possible. They will do more for you than any mentor because, in part, the success of the coach is dependent on a satisfied client. Clients who succeed with the help of a coach are exceedingly happy.
“Sometimes you have to do what you don’t like to get where you want to be.” –Tori Amos
2. Quitting instead of pivoting
Let’s make this very simple. Most new businesses don’t fail due to lack of cash, a poor market or a bad location. Most new businesses fail because the owner decides to quit, when what they should do is pivot. There was a time, not that long ago, that Apple was about to go bankrupt. The company had been losing money for a dozen straight years and poured over $100 million dollars into a failing product, the Apple Newton. By early 1997, Apple was in serious trouble. Had Apple stayed on the same path they would have faded into oblivion.
But that didn’t happen. Today Apple is worth over $700 billion. Why? Because Apple pivoted. They hired back one of the original founders (Steve Jobs) who cut the Newton immediately, made a deal with the previous enemy (Microsoft) and reinvented both the categories of portable music players and cell phones (with the iPod and iPhone). Many other amazing devices followed.
When you are in the midst of what you think is the end, it’s probably not. It may be the end for a particular idea, method or product, but it’s only the end for your business if you quit. Entrepreneurs who succeed know when to pivot.
3. Expecting they’ll love everything about being an entrepreneur
Most entrepreneurs are excited about the idea of working for themselves. They assume that every hour of every day will be filled doing creative and fulfilling work. When that’s not the case they often stop trying and look for the thing that will allow them to have every day and hour filled with creative work. The process repeats itself over and over. It’s a futile pursuit.
The good news is that many hours will be filled with doing creative and fulfilling work. The bad news is there are things you’ll still have to do that you don’t love. Successful entrepreneur and New York Times best-selling author Jon Acuff recommends every budding business owner create a “grit list”. These are the 10 things you absolutely despise doing, but must be done anyway.
I won’t belabor this point. Just know that while building your business you still have to do some things you don’t enjoy. Create your grit list of these things – then next to each one write down the value they bring to your business.
“Why do I have to fill out an expense report? That’s not my dream. You have to fill out an expense report because expense reports must be filled out.” – Jon Acuff
4. Not having a plan
You need a plan for your business. Not a 10 year all-encompassing plan. Those never work out. A plan for the next year. Perhaps as long as 3 years. The plan should have goals and action steps. It’s as simple as that. Then write it down. Your odds of accomplishing the goals on your plan go way up if you write it down.
On a personal level I had a recent business that was failing. Do you know what I did? Hired a coach, created a plan, pivoted when my coach suggested it and did what needed to be done. Did it work? Yes. If not you wouldn’t be reading this article.
Creating a successful business has no secrets. It’s really not about avoiding the wrong things, it’s about doing the right things. If you’ll hire a coach, pivot when necessary, know that some things just must be done and have a good plan then you’ll find yourself in that small group of new businesses that have wild success!
Which one of these four things do you need to implement into your business strategy to help your business?
Business
The Entrepreneur’s Reading List That Transforms Ideas Into Empires
These must-read titles and writing insights reveal how entrepreneurs turn bold ideas into empire-level success.

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Entrepreneurs
The Leadership Shift Every Company Needs in 2025
Struggling to keep your team engaged? Here’s how leaders can turn frustrated employees into loyal advocates.

In workplaces around the world, there’s a growing gap between employers and employees and between superiors and their teams. It’s a common refrain: “People don’t leave companies, they leave bad bosses.”
While there are, of course, cases where management could do better, this isn’t just a “bad boss” problem. The relationship between leaders and employees is complex. Instead of assigning blame, we should explore practical solutions to build stronger, healthier workplaces where everyone thrives.
Why This Gap Exists
Every workplace needs someone to guide, supervise, and provide feedback. That’s essential for productivity and performance. But because there are usually far more employees than managers, dissatisfaction, fair or not, spreads quickly.
What if, instead of focusing on blame, we focused on building trust, empathy, and communication? This is where modern leadership and human-centered management can make a difference.
Tools and Techniques to Bridge the Gap
Here are proven strategies leaders and employees can use to foster stronger relationships and create a workplace where people actually want to stay.
1. Practice Mutual Empathy
Both managers and employees need to recognize they are ultimately on the same team. Leaders have to balance people and performance, and often face intense pressure to hit targets. Employees who understand this reality are more likely to cooperate and problem-solve collaboratively.
2. Maintain Professional Boundaries
Superiors should separate personal issues from professional decision-making. Consistency, fairness, and integrity build trust, and trust is the foundation of a motivated team.
3. Follow the Golden Rule
Treat people how you would like to be treated. This simple principle encourages compassion and respect, two qualities every effective leader must demonstrate.
4. Avoid Micromanagement
Micromanaging stifles creativity and damages morale. Great leaders see themselves as partners, not just bosses, and treat their teams as collaborators working toward a shared goal.
5. Empower Employees to Grow
Empowerment means giving employees responsibility that matches their capacity, and then trusting them to deliver. Encourage them to take calculated risks, learn from mistakes, and problem-solve independently. If something goes wrong, turn it into a learning opportunity, not a reprimand.
6. Communicate in All Directions
Communication shouldn’t just be top-down. Invite feedback, create open channels for suggestions, and genuinely listen to what your people have to say. Healthy upward communication closes gaps before they become conflicts.
7. Overcome Insecurities
Many leaders secretly fear being outshone by younger, more tech-savvy employees. Instead of resisting, embrace the chance to learn from them. Humility earns respect and helps the team innovate faster.
8. Invest in Coaching and Mentorship
True leaders grow other leaders. Provide mentorship, career guidance, and stretch opportunities so employees can develop new skills. Leadership is learned through experience, but guided experience is even more powerful.
9. Eliminate Favoritism
Avoid cliques and office politics. Decisions should be based on facts and fairness, not gossip. Objective, transparent decision-making builds credibility.
10. Recognize Efforts Promptly
Recognition often matters more than rewards. Publicly appreciate employees’ contributions and do so consistently and fairly. A timely “thank you” can be more motivating than a quarterly bonus.
11. Conduct Thoughtful Exit Interviews
When employees leave, treat it as an opportunity to learn. Keep interviews confidential and use the insights to improve management practices and culture.
12. Provide Leadership Development
Train managers to lead, not just supervise. Leadership development programs help shift mindsets from “command and control” to “coach and empower.” This transformation has a direct impact on morale and retention.
13. Adopt Soft Leadership Principles
Today’s workforce, largely millennials and Gen Z, value collaboration over hierarchy. Soft leadership focuses on partnership, mutual respect, and shared purpose, rather than rigid top-down control.
The Bigger Picture: HR’s Role
Mercer’s global research highlights five key priorities for organizations:
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Build diverse talent pipelines
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Embrace flexible work models
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Design compelling career paths
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Simplify HR processes
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Redefine the value HR brings
The challenge? Employers and employees often view these priorities differently. Bridging that perception gap is just as important as bridging the relational gap between leaders and staff.
Treat Employees Like Associates, Not Just Staff
When you treat employees like partners, they bring their best selves to work. HR leaders must develop strategies to keep talent engaged, empowered, and prepared for the future.
Organizational success starts with people, always. Build the relationship with your team first, and the results will follow.
Entrepreneurs
What Makes an Entrepreneurial Leader? Traits of the World’s Best Innovators
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Building a Business Empire: Lessons from the World’s Boldest Entrepreneurs
Learn essential lessons, success strategies, and mindset shifts every aspiring entrepreneur needs to overcome challenges and build a thriving business.

Back in July 2017, I attended a business seminar on entrepreneurship in India. With my appetite for learning and meeting new people, I wanted to explore the latest developments in the entrepreneurial world. (more…)
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