Business Owners are Addicts!

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Are you addicted to your business?

I was watching Dragon’s Den a few weeks back and loved the comment from Kevin O’Leary saying that Business Owners are like addicts. They are so addicted to their business that they cannot see the wood for the trees. The lady on the show was from Vancouver and had invested over $800K of her own and parents money into a business that had not made money for over 5 years.

He said “STOP, you are killing yourself!” As much as he asked her to stop she defended her position and kept explaining why she kept doing what she was doing!

I meet many business owners who are exactly the same way: they have no plan, are financially maxed out and addicted to their situation.

In fact, many would be better off getting a job as they would make more money and not be putting their families at risk. Yes, take risk but know when to stop or else you will go down the slippery path of becoming an addict… you may even be an addict already!

What you do next after reading this is important… you can start to defend and explain why you are where you are at, yet you have to remember that you have to realize that when your family starts to seriously suffer you need to acknowledge you have a problem and get some rehab!

The #1 reason why businesses fail is because of Stubborn Pride! Get help and be the 1% of businesses that celebrate their 5 birthdays and are highly profitable.

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Author: Colin Sprake is the CEO of Make Your Mark, a Canadian company of live seminars, online entrepreneur academy and live accountability groups that have helped 10,000’s of Entrepreneurs achieve rapid results in small business growth and development. Colin is a best-selling author of ‘Entrepreneur Success Recipe’ and trains for BMO, Sun Life Financial, Scotia Bank, T.D. Bank and lives by the tagline Business With Soul – putting heart back into business!