Issue #15 - 3 Things That Keep Entrepreneurs Sad & Broke

Can you believe we are already halfway through January? 

It’s crazy how quickly time flies by when you are working on things you are passionate about. 

Speaking of passion, just having it is not enough. 

Unfortunately, you can’t take passion to the bank.  

You can’t use it to pay your bills, a nice vacation, or a fancy dinner with your S.O. 

That’s why I spent a large chunk of this week reflecting on the following question: 
 
 

Why do so many passionate entrepreneurs struggle to increase their impact and income? 
 
 

I came up with 3 different reasons. 

You are in for a treat. 

Enjoy. 

Reason #1 - Believing In Limiting Beliefs 
 
You’d be surprised how many entrepreneurs I work with that know their dream life/business is possible, but subconsciously, they believe it’s not possible for them. 

They see others’ success and want it for themselves. Yet a little voice inside their head wonders "Do I have it in me?" 

This insidious belief leads to overthinking, inaction, and lack of progress. 

But where does this belief come from? 

The core belief that this belief stems from is a belief of - “not being enough” 

• Not being enough to create good content. 
• Not being enough to build a successful business. 
• Not being enough to serve clients at a high level. 
• Not being enough to - (insert whatever reason you want) 
   
   

The thing that you need to drill into your head is that the belief of not being enough is straight-up bullshit.  

I don’t care who you are, what you look like, or where you are from. 

I genuinely believe that if you put in the work, you’ll get the result. 

The hard pill most people don’t want to swallow is that believing in not being enough is usually just an easy way to avoid doing the hard work. 

This is why every Monday, all my clients and I get together inside my community and for a full hour all we talk about is mindset. 

Unlocking your mind from all the BS that’s keeping you from doing the work is the key to doing the work. 

Emerson has this quote I drill into my clients over and over and over again.  
 
“Do the work and you shall have the power.”  
 
Don't think you can do it? Do the work. 

Overthinking? Do the work. 

Think you are not good enough? Do the work. 

The best way to get rid of your limiting beliefs is by doing the work and getting the result. 

Reason #2 - Focusing On The Wrong Things 
 
When it comes to entrepreneurship there are a million things you can do, but only a few that drive results. 

Early on, entrepreneurs make the mistake of prioritizing things that “need to be done” over the things that drive results. 

So what drives results? 

In his book, 0 - $100 Million in no time flat, Michael Masterson recommends entrepreneurs who are below $1m/yr to focus 80% of their energy, time, focus, and resources on marketing and sales. 80%! 

Most entrepreneurs these days are more focused on looking like entrepreneurs on social media rather than being entrepreneurs in real life.  

If you are below $10k/months, stop everything you are doing and just focus on marketing and selling. 

Business cards? Please. 

Want to build a website? Forget it. 

Content? Only if it’s focused on driving sales. 

This is why when I take on a new client, I asses everything they are doing, show them that those things don’t drive results, and refocus them on the three things that do. 

What are those 3 things? 

Glad you asked. 

1.  Booking calls 
2.  Having sales conversations 
3.  Delivering amazing results for clients 

Everything else can get done later. 

Reflect on this question: How much time are you spending on things that are not marketing and selling? 

Reason #3 - Lack Of Skill 
 
If you don’t know how to: 

- Create products/services that sell 

- Generate interest in those products/services 

- Convert that interest into new clients & cashflow 

You are going to have a hard time growing your business. 
 
"Most of what exists in the universe - our actions, and all other forces, resources, and ideas has little value and yields little results; on the other hand, a few things work fantastically well and have tremendous impact. The few things that work fantastically well should be identified, cultivated, nurtured, and multiplied.” - Richarch Koch 
 
When it comes to business, these few things Koch is referring to are the fundamentals.  

The fundamentals: Value creation, marketing, sales. 

Focus on mastering those and the rest will take care of itself. 

-- 

That’s it for this one. 

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