What are the latest statistics in the % of businesses that fail in the first 3 years? Some say 50%, some say 80% and some say 90%.
As you sit there, reading this, taking it in, I wonder if you could ask yourself, “Who, of these failed business owners, start their business already thinking they are going to fail?”
The answer is obvious. No one expects to fail (well not consciously!).
So why do people fail in business so often?
For me, having owned and operated 4 failed businesses in the past, for me it was thinking I knew everything I needed to know.
I thought I had it all sorted out on each occasion. All my experience, my knowledge, and my research gave me the confidence to launch each of my businesses, and upon their failings I discovered gaps in my knowledge and understandings.
I reflected upon this and realised that I had been given opportunities in the past to acquire this knowledge, however at the time, I thought I already knew what I needed, and therefore I didn’t recognise the opportunity, when it presented itself.
How often have you found yourself in a similar position, or maybe you know of other people in your life that have experienced this situation before?
How many scientific discoveries that we take for granted as fact these days, were considered too confronting, heretical and were discounted for years because they challenged the prior learnings of the masses?
We still see it today with regards to Evolution versus Divine Creation.
In order to learn something new, you must first be prepared to receive it. As adults we become more sceptical and critical of things, and some of us have a personality tendency that results in us disagreeing often, or looking for the gaps in things.
If we don’t learn to suspend our disbelief then we often miss bits of information that can make the biggest differences in our lives.
Another effective way to ensure you prepare yourself for learning something new, is to make a conscious effort to suspend your prior learnings and disbelief, to allow the new learning to be fully considered, maybe even applied in order to make as much of an unbiased assessment of it as possible.
The simple fact is that you don’t know what you don’t know.