The 31 Major Causes Of Failure (Part Six)

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The 31 Major Causes Of Failure (Part Six)

 

 

 

This is the sixth post in the series based on the writings in Napoleon Hill’s book ‘Think and Grow Rich.’ If you haven’t read the earlier posts you can catch up on them after you have read through these. Though this book was first published in 1937 and some of its language may be a tad dated the messages are timeless and just a valid today as ever. One of those books that you can read over and over. Just a paragraph or two is often enough to give me lots to think about and act on for the day. ‘Think and Grow Rich’ is definitely an action book.

 

27. Egotism And Vanity

These ‘twin towers’ of failure are often found in those that have had early success or have been born into fortuitous circumstances and have been given to expect that all that is required for further success is for them to show up. Sadly, the hard work that got them to the position they are currently in, is often forgotten or downplayed. As a result you can see many 2nd, 3rd or 4th generations of success, flounder and then capsize in the choppy waters of business without a firm hand on the tiller. There is no place in a successful business for egotism and vanity, they run at complete odds to the essential ingredient, cooperation.

 

28. Guessing Instead Of Thinking

There is a commonality amongst those involved in business failures when it comes to dealing with facts. All too often the facts that would have avoided the failure weren’t completely collected or were ignored altogether. As a result, business decisions that should have been formed on solidly based thinking are instead reduced to a series of guesses. Guesses are like gambling. Sooner or later the house gets your money. Guess long enough and they will get it all.  It takes time and often costs money to determine facts but they are critical to effective decision making in business. You wouldn’t want your six year old son to ‘spin the wheel’ to help you make core decisions.

 

29. Lack of Capital

This is one of the most common causes of failure for start-up businesses in the first few years of operation. Entrepreneurs are gloriously optimistic (they have to be or most wouldn’t ever start a business) and they envision a constant flow of customers beating down their doors to buy whatever widget they have on sale. In reality, it often takes time to build a reputation and to establish a cliental base so the first few years can be very meager ones for cash flow. Inevitably mistakes are made when one begins any venture and while these are valuable and priceless steps to success,  they don’t come without a cost and capital can be rapidly eroded during this process. It’s often hard to gauge how much is required but a good rule of thumb is that everything takes twice as long and costs twice as much, whereas income will only be half as much as projected and take twice as long to collect as expected.

 

30. The Six Basic Fears

These Six Basic Fears can totally paralyze the veteran businessman never mind the knock kneed neophyte. Any one of these fears on their own can be daunting and a combination absolutely lethal. I am just going to list them here exactly as Napoleon Hill has (in declining order of their most common appearance) and then expand on them and deal with them individually in another blogpost.

1. The Fear Of Poverty

2. The Fear of Criticism

3. The Fear of Ill Health

4. The Fear of Loss or Love of Someone

5. The Fear of Old Age

6. The Fear of Death

 

31. Everything Else Including The Kitchen Sink

This major cause is devoted to all other causes that have been the cause of any failure in your life or business that has not been listed above. I can think of a few but then on further examination it always seems as though they fall into one category or another. Given the fast pace of today’s business environment I think it is safe to place obsolescence and lack of current information on this list. Still, if one is paying attention to the wants and needs of your clients you shouldn’t be steamrolled by a sudden and unforeseen change in consumer habits. Stay in Touch!

I sincerely hope that you have enjoyed this series as much as I have had in researching and writing it. I always feel as though I get the best of the deal. I get the twin advantages of both the learning and the teaching. Like Meatloaf sang, ‘doubly blessed’. If you haven’t enjoyed the other parts in the series yet, take a look. There’s something there for almost any occasion. That’s the beauty of Napoleon Hill’s writings. What action will YOU take?

“When defeat comes, accept it as a signal that your plans are not sound, rebuild those plans, and set sail once more toward your coveted goal.”  ―    Napoleon Hill

 

Till Next Time….

 

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Sigrid McNab

Skype: sigrid.mcnab

Email: sigridmcnab@gmail.com

 

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About Sigrid McNab

Sigrid McNab is the author of #1 Amazon Best Seller, speaker and the CEO and Founder of sigridmcnab.com. Sigrid specializes in blogging, attraction marketing, and generating highly qualified leads. Sigrid teaches people how to build a successful online business.

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4 Responses to “The 31 Major Causes Of Failure (Part Six)”

  1. Damayanthi Says:

    I really like this book & it is a heavy book to digest. Like the way you are sharing each point broken down in such away we can easily get the mail lesson Mr.Hill wants us to learn.

    Thanks Sigrid for taking the time & effort to share.

    Damayanthi
    Damayanthi recently posted…How to build great relationships and get your prospects to trust you?My Profile

    [Reply]

    sigrid Reply:

    Thanks Damayanthi, appreciate that. It’s like an enormous banquet that can only be digested one bite at a time.

    [Reply]

    Reply

  2. Larry Ainsworth Says:

    The 6 basic fears have such a major impact in so many ways. I’d like to add a 7th fear that holds so many of us entrepreneurs back and that is the fear of failure. It can be so easy to use that excuse not to do something as justification. And then there is the fear of success: What if we actually do acheive success? Are we ready for it? So that fear can also hold us back.

    [Reply]

    sigrid Reply:

    Good points Larry. A great teacher once told me that he likes to view things as either being a success or a learning experience. If we view our failures for what they are, ie learning experiences, they lose their power to cause us to freeze up.

    [Reply]

    Reply

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