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Lana has a passion for learning and personal growth. BizAcademi was created to revolutionize how business owners build a business that creates meaning, fulfilment, and freedom.
If you’re an entrepreneur, you know that business owners like yourself face daily obstacles as they fight their way to a successful business (and often are still faced them crises once a certain level of achievement is reached). To counter the threat of failure, entrepreneurs will set goals for themselves and their business to keep them focused as they jump over all of those typical entrepreneurial obstacles.
Goals are supposed to help keep us focused, right? But simply setting a goal does not mean that it will be reached in a reasonable amount of time – or ever. The truth is that goal setting, the very thing that keeps entrepreneurs focused, can, in fact, do the very opposite. Below, we have outlined the four big goal obstacles (and how to overcome them).
One of the most common goal obstacles is the need for perfection in everything you do before releasing it into the world for others to enjoy.
You do not need to wait until everything is perfect before going ahead with plans. If you do, then you will most certainly never get anything done. It is the process that counts. When you decide to take the leap and do something before you deem it 100 percent perfect, you will be able to modify and improve it. You will be able to see firsthand what does and doesn’t work. Here are two stories to illustrate my point:
An entrepreneur has started an online business that will deliver great course content online. They want to launch their first-ever course: Blogging for Business. However, they are hesitant to publish their couse because they are not 100 percent satisfied with the structure and content. They spend the rest of their days tweaking the course, and never put it up for sale.
An entrepreneur has started an online business that will deliver great course content online. They want to launch their first-ever course: Blogging for Business. However, they have not yet published the course because they are not 100 percent satisfied with the structure and content. They publish it anyway, but they openly admit to their customers that this is the very first version of that course. To make up for this, they sell the first version of their course at a discounted rate, and give whoever purchases the course lifetime access to future upgrades. In turn, they ask that the customer to provide feedback on the first version of the course.
The entrepreneur ends up selling a few seats in their course, and get valuable feedback from the participants while also learning along the way. They take all feedback into consideration and when combined with what they have learned thus far, and they are able to improve their course to such a degree that it becomes a constant source of passive income.
Which story did you like better?
First of all, let’s get real. Fear of failure is a completely normal human reaction to the unknown. Even if you can overcome this obstacle, there is a very good chance that it will return whenever you start to doubt yourself, the viability of your product or service, or your ability to run a successful business.
Entrepreneurs may be more fearful of failure due to the sheer amount of time, money, and emotion that they invest in their idea. Of the three, the financial investment is often the most worrisome – if the business doesn’t succeed within a certain timeframe, the entrepreneur may be forced to close their business and lose that money forever. Additionally, a failed business doesn’t just deal a large blow to the bank account; one’s self-confidence can take a pretty big hit as well.
You have to have faith in your business. This doesn’t mean that you should walk around and only allow yourself to see the butterflies and rainbows while ignoring what needs to be fixed or improved; instead you should have faith in the idea that you are selling, the goal you are trying to reach, and the outcome that you are trying to achieve. You have to have faith in your product or service and the great people out there who will become your customers.
One of the things that makes fear of failure worse for entrepreneurs is that they usually are so busy trying to get their business off of the ground that their heavy workload causes them to isolate themselves from their friends and family. Having a support system outside of your business will help keep some of these feelings at bay, or at the very least will place your worries in perspective.
Just because you have big dreams for your business does not mean that you should take big steps towards achieving them. Taking bigger steps means that you risk overlooking a smaller (and possibly crucial) components. The smaller steps that lead up to the big goal are just as – if not more – important than the big steps.
It is therefore important to create a series of smaller steps that will, collectively, help you take a big step. Creating smaller steps requires you to focus in on specific, smaller-scale issues and challenges, and completing these smaller steps results in a stronger business that has been built on these smaller achievements.
Shiny-Object Syndrome is a real problem, folks. You see something that you like and want to pursue it or model your business after it. Here’s a little advice: don’t fall down the rabbit hole. Focus on your company: its unique brand identity, its products/services as they currently are (with room for improvements), and the people with whom you want your company to interact through sales and service. Don’t get caught up in what so-and-so is doing on Instagram (even if it seems to be working really well).
You can look into how other companies achieve their own goals, but don’t try to model your entire business after another company. This takes away from your unique identity, your authenticity, and hinders your ability to reach your company’s goals.
Make sure that you are surrounded by your brand, your goals, your vision.
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