FBC – 269 – What 99% of entrepreneurs fail to do.

Today we are going to talk about one of the biggest mistakes entrepreneurs make. What 99% of entrepreneurs fail to do. I feel like we covered this subject recently but it’s so important that you need to hear it again.

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I did my talk in the Philippines. So the theme of the talk was how to be a digital nomad, which was perfect because that's what I've been doing. And it turns out that the subject when I was here was actually something I'm really interested about, because next week, for example, they have the same event, but it's about influencers. And I'm not one. It's not like I could say much.

I just did a chat about what it means for me to be a digital nomad and how I live my life. You know, how I set up everything to make sure I still get this life. And one point that I made was that a lot of entrepreneurs spend some time finding their “why”.

So it's very important to find your “Why” because it will guide you and it will help you when things get tough and you need some motivation to keep going. But the finding the “Why” is a problem because a lot of people don't even look for it.

So the great majority of people don't actually do it. So if you're if you're doing that, then you're already in the minority. But out of that minority that actually found a “Why” and have this passion that drives them, 99% of them will actually forget their Why.

What 99% of entrepreneurs fail to do.

Because the hardest thing is not to find it. The hardest thing is holding onto it and remembering it. There are so many temptations and so many different business opportunities and stuff like that that you will get on your path. Oh, man. You know, you can do some coaching this and let's do an agency and let's do this and let's do that stuff.

So that's the thing, you can get lost very quickly in those kind of things. Right. Because, you know, someone asks you to do some coaching with this guy who’s going to pay you X. You're like now X is kind of a lot of money. Let me do it.

And then you end up having to do some consulting and training and mentoring and stuff, which can be cool, but if that’s not why you started on this path, you can get distracted and lose sight of your goal. And before you know it, you're being governed by the demands of other people.

So my take for them was make sure you remember that “Why”. Because when you need to make a business decision afterwards, it needs to support that direction that you set up for yourself when you started it.

Okay. Me again. That's why I don't do client related stuff and everything. I don't do that because, you know, it just goes against my “Why”. I feel it’s important to stay in your lane and stay focussed on what you set out to achieve in the first place. That way, you’ll get there quicker. It worked for me and it can work for you too.

I think I've made some connections with some really cool people over there. We got to enjoy a late dinner and get to know each other. And I think everyone enjoyed my talk. I had a lot of positive feedback and I’m really glad I came over to do it.