Businesses Fail Because of Lack of Commitment

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This is my new favorite topic because I am really stunned at how many business owners and entrepreneurs fail. 94% Fail in their first 2 years and this does not have to be the case! I have met 1,000s of entrepreneurs and there is a common theme amongst all those who seem to struggle in business and reach any level of success and that is COMMITMENT!

Mostly COMMITMENT to themselves and their families. You have heard the cliche “The way you do anything is the way you do everything” and this is true in business and life. What you do in your life you do in your business. Wherever you show commitment you will achieve results! I feel that the majority of marriages fail because of lack of commitment and the same goes for business.

Just like a marriage you will experience some dark days, challenges and at times want to walk away and throw in the towel. It is no different in business! You have to be committed to your success and where you want to be!

Commitment goes hand-in-hand with tenacity and you have to ensure you are totally committed to your family and your business. Some people commit to their business and their marriage fails or they become too committed to family and business fails… you truly have to find a COMMITMENT balance.

It all starts with one thing: knowing what you want the end result to look like! You have heard it before, you have to start with the end in mind – even put more simply, what you focus on shows up in your life – are you focusing on a worthy long term goal? If not, start today by writing down 1, 3 and 5 year goals for where you want to be in your family and in business and stay COMMITTED to achieving them!

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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!