4 Personal Issues That Can Keep Entrepreneurs From Success

This article was submitted by Larry Alton and does not constitute the views or opinions of Upwork.

---

There’s no roadmap to success as an entrepreneur. No matter what other people tell you or how much you believe in a philosophy, it’s important for you to remember that success is highly personal. That being said, there are some common issues that can hold people back. By recognizing these problems and being proactive about them, you can increase your chances of being successful.

Don’t let these personal issues hold you back.

On the personal side, there are a number of shortcomings, issues, and factors that can negatively impact your growth and development as an entrepreneur. Stopping them should be a major focus in the coming year.

1. Poor credit

Most entrepreneurs don’t have the money they need to self-fund a startup or launch an extensive business operation. Therefore, your ability to secure outside financing could be a critically important piece to the puzzle. If you have bad credit—something millions of Americans deal with—then your chances of getting affordable financing (or financing at all) could be slim.

If you have bad or poor credit, it may take a conscious effort to repair your credit. There are some steps you can take on your own, but it may be helpful to hire a credit repair service to do the heavy lifting.

2. Lack of work-life balance

It’s easy to feel like you’ll get more work done if you put in a 14-hour day versus a 10-hour day, but this might not be true. At some point, most people experience diminishing returns. As a result, you can end up spending more time working, without getting a meaningful boost in production or output.

While it might seem like you’re wasting your time, carving out some personal time helps create work-life balance and can give your mind and body the break they need to return to your entrepreneurial pursuits with greater vigor and focus.

3. Fear of failure

“We fear failing. There are two possible reasons for this; either we are too accustomed to winning over small things/goals, or we don’t have the courage to risk all that we have achieved till now for something with an uncertain future,” entrepreneur Nitinkumar Gove explains. “People fear failure primarily when they have low self-confidence, and a lack of faith in their own efforts, skills and the opportunity.”

The only way to overcome your fear of failure is to take risks, fail, and realize that failure doesn’t mean the end of the world. While there can be some pain in this process, there’s also the potential for great freedom.

4. Addiction to learning

There is power in learning, but don’t get so caught up in accumulating “head knowledge” that you forget to actually put some of that education into action.

Maybe you’ve seen statistics or studies that show successful people read more books than the average person. Expanding your knowledge by reading is a good goal, but don’t focus so much on the number of books you read that you fail to extract value from them. For example, read a book then work on applying what you learned before moving on to the next one.

Realize your entrepreneurial potential

The funny thing about potential is that it means nothing until it’s realized. Potential is arbitrary and intangible until you go out there and seize it. At that point, potential becomes reality.

As you pursue your entrepreneurial potential, face your personal issues head-on so they don’t hinder your growth. While they can be easy to push to the side in favor of business-specific challenges, they can have just as much impact on your long-term success. The sooner you realize this nugget of truth, the better off you’ll be.

The post 4 Personal Issues That Can Keep Entrepreneurs From Success appeared first on Upwork Blog.

from Upwork Blog http://ift.tt/2ucrTNK