Quiz Time! (With prizes! And angst for your brain!)
Wednesday, 9:26pm
In The Bosom Of The Sierras Below Lake Tahoe, NV
“I got your number on the wall…” (Tommy TuTone “Jenny/867-5309”)
Howdy…
I’ve got an idea: Let’s give out a couple of hot prizes. What d’ya think about that?
Like… how about a bitchin’ hot-off-the-presses copy of my book “The Entrepreneur’s Guide To Getting Your Shit Together“…
… signed by me, to you.
Free. I’ll even pick up the shipping, that’s what a mensch I am.
And all you gotta do is be either the first to deliver (in the comment section below) the correct answer to the question I’m about to reveal here… or write up the best response. I’ll be the judge and jury here.
So there will be two winners. We’ll let this quiz percolate for a week, and then I’ll announce the two winners here.
I haven’t hosted a quiz in a long time. Shame on me. The last few quizzes pulled in hundreds and hundreds of replies, which kind of freaked me out… but they were also evil fun. I’ll be in the comments myself, sifting and searching for the two winners (and tossing out the trolls).
I’ll announce the lucky victors in the comments section on Friday, November 22.
Free signed copy of the one book all serious entrepreneurs should have on their shelf. Might be worth something, you know, when I kick the bucket (or get embroiled in a scandal or something).
First correct answer, and best response (as judged by me).
Okay, ready?
Here’s the set-up for the question: I’ve been counseling and advising entrepreneurs for over 30 years now…
… on just about every detail of creating a solid biz model, and cramming all marketing materials with the kind of persuasive voodoo that brings in the Big Bucks. I’ve helped transform a small army of formerly-clueless entrepreneurs into scary-good monsters of profit.
And, in almost every long-term relationship I’ve had advising a client…
… we’ve covered every aspect of running a business — dealing with details, solving problems, finding happiness and managing wealth (or lack thereof).
If you haven’t enjoyed a mentoring relationship like this (or even an extended round of consulting with an expert), you might be astonished at what, precisely, pops up as the biggest (and baddest) obstacle to getting filthy rich and deliriously happy as an entrepreneur.
You might even be shocked.
So, here’s the question: Based on what you suspect I’ve discovered in my 30 years of consulting…
… what is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success?
Not the second biggest problem. Not the third biggest. THE biggest. The Big Kahuna of entrepreneurial obstacles.
The quiz starts now.
Drop your answer in the comments section. You can answer more than once, but don’t go nuts, all right? Quality, not quantity.
Consider your answer, using all your powers of deduction, insight, experience (plus the clue hidden here)…
… and give it a shot.
I’ll wander in and out of the comments myself, offering other vague clues.
The answer I’m looking for, remember, is what I’ve discovered in my career as a consultant. So I’ve obviously written about it before, wouldn’t you think? Like, in posts here in the blog maybe?
Or not.
At any rate, the game is on.
See you in the comments section.
Winners will be revealed Friday the 22nd.
Stay frosty, and don’t screw this up.
John
Just enter your name and primary email address below and we'll send you the new report right away.
"11 Really Stupid Blunders You're Making With Your Biz & Career Right Now."
Session expired
Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.
Hi John,
I’m reading this blog for a while now, started with the very last page and make my way through it. Actually I’m on page 115 (the server died, remember?)and I’m still thrilled about the brilliant posts you are writing.
Okay, fan-hugging done, so here is my answer:
The biggest problem i think is to _move_.
To get up and _do_ something, instead of just talking.
Like this: i want to win this copy, so i have to write a commend and not just think about how great it would be to win.
So i give it a try and i’m curious about what happend. 😉
Many greetings from Germany,
Alice
Hi Alice. How did you guys find out about this post so fast? I haven’t announced it on Facebook or in email yet…
Oh, well. Good for you for being on the cutting edge of discovery. RSS feed?
Anyway, good answer… but not the right one. Gary Halbert used to love saying “Movement solves a lot of problems”, and over the years I’ve also had many clients who just needed a good swift kick in the butt to get them off a static point of inaction.
But it’s not the #1 problem.
Try again, if you like…
Gnah… but thanks for the answer.
I use bloglovin for google chrome, whenever a new blogpost is online a little red number show up. I love this little tool. 🙂
Okay next try:
First I scanned your answers to the other comments to find out if it is said already, but no. Fear was another idea, but you answered about that a lot so I first was about to say:
1. Ideas/Goals.
Before you haven’t have a good idea about what you want to do/sell or a goal settled, you can’t make any other move.
But then I read your answer to Ozans commend and another idea came to my mind:
2. the disability to hang on to an idea.
A first hurdle and the whole thing crashed, because they give up.
Also known as the greenness about the idea of getting succesfull. You doesn’t go straight to success, you fail a lot before you can succeed and if you don’t know (and accept) this, you never get anywhere close to your goals.
Gosh, it’s friday morning, hope you got what I mean. 😀
Greets from Germany (Berlin) 😉
Hey John,
How are ya?
Thanks for a shot at a copy of your new book.
Would the number one reason be goals or lack thereof?
Thanks again.
Later.
Another decent answer, Sean. But not the right one. I’ve known a number of entrepreneurs who follow the “ready, fire, aim” school of thought, and craft their goals on the go, while they’re in the game. It’s not the best way to get stuff done, cuz you end up going down a lot of blind alleys, and have to reverse course often. But it can work. In fact, it’s how I conducted my own career at the beginning, since I had launched myself into the freelance world with no clear goals other than to get a few jobs and “see what happens.”
Thanks for the response. Try again.
You called it envy. The in-your-own-headedness that keeps entrepreneurs from understanding their clients, their competitors, and their market. Keeps them using horrible web designs because “I like it!” Keeps them thinking, “but what will they THINK OF ME if I use a headline like that?!” Keeps them saying, “if only I had my competition’s competitive advantage, I’d be rich!” (and never spotting what they can do to do things ten times better)
And keeps them from spotting a starving crowd when it wanders past their front door, begging for a juicy burger.
Yet another good (but wrong) answer.
Good to see that you thought this out first, Eric. Keep thinking on it…
Hey John, having reread the Intelligent,Educated and Savvy article I’m going to guess…applying what you’ve learned.
Ah, taking detective shortcuts — one of my favorite tactics, too, Clark.
But, no. Not the right answer.
Answer: Re-inventing the wheel & not taking action!
All best to fellow competitors 🙂
That’s a good tactic to keep in your toolkit — to make sure you know how your competition has approached marketing, pricing, customer service, etc — but it’s not the #1 problem. Thanks for trying…
Hi John,
Short answer: Confidence in yourself!
Good try, Jody, but… nope.
Hi John,
Is it…the ummm…
ability to…whoa nice shot Lebron…
hey I like this commercial with the talking gecko…
damn, I forgot to do laundry today…
Oh yeah, the answer is…the ability to focus to get sh*t done.
Um… what?
A strategy!
Hey John,
Trying to do it all by themselves.
Get help, get partners with strengths you don’t have.
My 2 cents.
Selling from their heels. Not getting over their bad selves – putting the pussyfooting around behind them – and putting a killer, ballsy offer out there.
The NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success is having a well defined and actionable definition of success for themselves to begin with.
Without it they don’t know where they are going, they can’t tell they are getting there, and the won’t know if they have arrived.
Would it be the habit of complicating the answer/solution to the problems themselves?
Trying to let a gazillion possibilities marinate in the back of their brains – hoping to stoke some revolutionary idea instead of keeping it SIMPLE?
(Cop out answer given the prize: Getting their shit together? 🙂 )
Mike — that’s one of my favorite sayings (and I’m pretty sure I said this first a few years ago, though the sentiment is as old as recorded history): “It’s a built-in tendency of the human race to take a simple, elegant idea… and then complicate the fuck out of it.”
Great guess. However, not the precise right answer.
Hmm I’m guessing then that the most common problem in consulting is that people don’t know exactly what their next step is. That’s why they go to consulting asking for what to do rather than having a plan already and use consulting as help. I read this from one of your articles but I can’t remember exactly where, I’ll post back when I find it.
Hey John,
Is the number one problem – being unwilling to delegate?
#1 Problem – waiting so long before seeking out a mentor, or never getting one at all.
1. Inability to say ‘Fuck no’.
2. No focus.
Tia, knew you’d be in the first pack to answer.
This IS a big problem, but it’s not the Big Kahuna…
Quality Answer #3:
Stay Frosty…. be conscious and understand how the world works.
Always appreciate your thinking, Tia. And in a meta-way, this is a good answer.
But the main problems I see in consults aren’t at the meta-level — they’re starkly real, in a way that is instantly recognizable (to a pro looking for them, anyway)…
I think the #1 thing holding people back is their fear of failure. Many people view failure as an end instead of only being a part of the journey, a necessary part. The only way you can truly fail is if you quit….or never start.
This is what I was hoping for when I hosted this quiz — some really good thinking about what the main problems of being an entrepreneur are.
Good answer, Charles… but not the one I’m looking for.
Thinking that if they are good technicians (plumber, accountant), that they will also thrive in that business.
Hi John,
The pre-requisite, I believe, is in knowing what you want to achieve.
After that, I think the number one problem faced by entrepreneurs is not breaking down their goals into manageable, achievable steps and phases.
And sticking to their own deadlines. Getting out of their own way. Tying down their ego (be it too high or too low). Getting productive instead of the illusion of busyness.
Asher
My answer is the inability to say NO way Jose.
Tia Dobi beat me to the answer because I did not say NO to my daughter and made her some tea before I posted here, so note to self (Learn how to say NO dammit).
The number 1 problem of every business is getting more sales.
I’ve known a number of biz models reach staggering levels of income, and still not meet the parameters of being “successful”. Good try, though, Steve.
My second guess is not having any differentiation from the competition.
Based on the clues, I would say that entrepreneurs get one-itis, that is to say they believe that there is only one way to accomplish what they are after. They stay stuck on trying the same thing over and over hoping for a new result every time. They can’t jump the rut to cut a new groove.
The courage to fail (so they can find what works best) is what holds most entrepreneurs back!
Hey John,
I’ll take a shot – The one problem is the entrepreneurs are not doing those things they know they should be doing to get the desired results. They instead focus on what they’re passionate about, the stuff that makes them feel busy, or the stuff that doesn’t scare them.
Really good try, Mike — and while this can be a problem, it’s not the one I’m looking for. Thanks for the response…
I’m gonna say the biggest problem is their heads.
The B.S. beliefs, fears and self-imposed limitations that stop them from taking the actions that would get the results they ultimately want.
How to cut out all of the bullshit, and only do tasks that put money in the bank?
Cheers Beanie
Its not throwing your EGO to the trash before you write or anything else moolah making related.
Joder I want that book signed!
Ha! You’ve perhaps been to, or seen video of one of my events, no?
It’s a great point to make… but not the right answer, Ingo.
Not constantly “brainwashing” yourself with the right advice/info.
I think we are constantly being brainwashed, so if that is true, I think we should at least pick a good “detergent”, which will in turn allow us to constantly improve, and reach our chosen goals (or at least let us find “the right” goals).
The answer is: Not having a good mentor.
and… (when you do have a good mentor).
Not following his advice, not using his know-how, knowledge.
Not following the instructions…
Good thinking, Marcin. Lots of folks almost require some kind of mentoring (I certainly benefited hugely from it).
However, the whole concept of mentoring is fraught with other issues — finding one, accessing them, understanding how the process works (the movie “The Karate Kid” wasn’t far off on the often absurd nature of how mentoring can work/not work).
How to kill your inner demon.
If you’ve got just one demon running around in your head, you’re one lucky dude, Jeff. The rest of us are wrestling with small mobs of the little buggers.
And it’s hard to “kill” them. Much easier to develop simple strategies to ignore/lock them away. This was a big “Psych Insights for Modern Marketers” podcast not too long ago… (free podcasts at http://www.pi4mm.com)
Good suggestion, but not the right answer.
what is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success is the fear of change.
They seek out advice, pay for advice, but when that advice means they have to change, they disappear.
Kara
I have been through this. A few years ago I was a partner in a quick serve restaurant franchise with 12 locations. Today I am broke, bankrupt, and trying to get my shit together.
The biggest thing that doomed my partner and I was the arrogance of believing that we knew it all. After all, we had 40 years experience between us, surely we could figure things out.
What we needed was an outside expert. An objective viewpoint with broader experience than we had.
We needed to hook up with someone that knew his shit. And we needed to listen and heed his advice. We needed to ask for help before it was too late.
Wow, Scott, that’s a painful lesson to learn, in a painful way.
I hope you’re on your way to getting a new version of success back. Well written response, appreciate you sharing it.
The number one problem is getting new customers. At least in the eye’s of the entrepreneurs.
They’re real, main problem is… not having a marketing system to get new customers. A system which can be measured and therefore a system which can be improved. A system which gives them rock-solid guidance in form of tasty sales.
But in order to be able to get that… they need to get their shit together.
Not believing their Dream is possible: Fear.
More exactly, John, not fear … but doubt.
I think the biggest mistake HAS to be focusing on the product, service, business or entrepreneur instead of focusing on the customers wants and needs.
There is no one biggest problem. Every biz owner has a new biggest problem every week of the year. If you don’t have problems, it means you’re not pushing hard enough, and holes aren’t naturally being poked in the way you do things. So I’d have to say if I didn’t have a biggest problem, that’d be my biggest problem.
Biggest problem is taking the first step, and DOING something, rather than just reading about doing something…
They have a great idea which they think will revolutionise their industry so they go an spend thousands of $$$ on developing some whiz bang gizmo without talking to their target audience
Sell something and make a customer
Time management; being as efficient as possible with our most limited resource. (Overcoming the self-sabotage of the typical entrepreneur when it comes to time management… oh and poor marketing!)
The biggest problem for entrepreneurs is DOING things they DON’T like.
Instead of focusing on and doing the things they do like (things that make them happy).
Themselves.
The biggest problem is ability to focus on the goal of establishing a system.
Hi,
i think th biggest problem is to clearly define the good prospect profile: what they want , who they are, to be able to adapt the good product for the good customer and of course where to find them to make the good list.
Wow, this literally just hit my e-mail, and already 22 comments? Sheesh.
Here are my buest guess(es):
— Failure to ‘Get It’. Many entrepreneurs chase their tails and spin their wheels without understanding what the ultimate objective is.
— Their EGO. Too focused on being ‘dignified’ and ‘professional’. Not enough brass balls, personality, and gusto in their marketing.
— Not focused on Operation Moneysuck. Any small problem or distraction throws most entrepreneurs off. Printer crashes…they spend a half an hour trying to fix it. One customer complained…throwing away 20 minutes (or more) trying to smooth it out with them over the phone. All focus should be on the activities that directly lead to money coming in (writing sales letter, upselling, etc.).
All good answers, but not the Big One, Damian. Thanks for the note, though…
I would say …knowing how to market their products , services or ideas
Hi John,
I am a reader all the way from Nigeria and I love everything you teach.
In answer to your question, I believe the biggest problem is that entrepreneurs ALWAYS THINK that their business is DIFFERENT and so believe that your ideas and strategies CANNOT possibly be transferred to their business and used by them to make monster profits.
#1 Problem: you don’t know what you don’t know.
So, sometimes, you don’t know when it’s a good idea to stop for a reality check and holster the brass balls (temporarily).
And sometimes, you forget that someone else might know the answers to all your problems.
I love quizzes, especially when there’s good “bait on the hook”…John, I believe the correct answer something we all struggle with, in one form or another, no matter where we are on the success ladder…it’s actually a very core human characteristic and darn hard to overcome sometimes (can you hear the voice of experience talking here?)…a simple four letter word…ENVY! Cheers mate, and good luck to all.
Here I go again (:
I really liked the Envy one, Ego is nice too. Jealousy… (:
But that’s probably not what your looking for.
Here we go:
Not taking like as it is, for what it is, and as it comes (I can’t find the right words, but I guess you know what I mean).
Oops that last comment was not supposed to be here (technology…) sorry Art.
p.s. I really liked your answer.
Fear.
Whether that’s of success, of stepping out, of change. Their comfortable, even if it isn’t working, and are afraid of moving on from that.
Even if they know WHAT to do, fear gets in the way. That’s why you can’t just give people the tools.
“Fear” is showing up a lot. And while it IS a major issue, it’s usually more of an issue BEFORE someone gets to the point of consulting with me. By the time I enter the picture, some form of action and movement has taken place.
Great answer, and it’s a common first thought. But not the answer I’m looking for.
I’ll take a stab at it…
#1 Problem: Falling in love with a product and then trying to sell it, rather than identifying a hungry market and finding/creating a product to feed it.
…Fear of Loss 🙂
Hi John,
Marvellous post.
My two-penneth worth about what is stopping most entrepreneurs from being successful is this: The Fear.
The fear of failing.
What sets successful people aside from the mortals are their willingness to face up to that fear. Facing it and just pushing ahead despite that desperate, yawning pull that churns your stomach and dizzies your mind. Because really they have nothing to fear.
Even if it does happen (and most of the time, your worst fears aren’t realised) failure is simply part of the learning process. Lots of failures means you have gained an education far beyond those who sit and dream. And if you keep going, then, yes, success will be waiting for you just round the next corner.
Again, I see why “fear” keeps coming up, because I certainly harp on it a lot (as do other teachers).
But while fear is rampant in the general population, once an entrepreneur actually dives into the adventure of going into biz, they’ve conquered much of the greatest kind of fear they’ll encounter. There will be lots of opportunities to experience more fear along the way… but it’s not the major problem.
Thanks for the well thought-out response, though.
I am going to go with…
Working in their business instead of on their business. 80% of their time is spent on low value activities that can be outsourced for dirt cheap. Instead, they could be focusing on the actions that yield the greatest ROI…the 20% actions that yield 80% of the results. Michael Gerber’s E-Myth books and products tackle this tendency head on.
focusing too hard on the money, and not hard enough on the “why” of it. You can make money doing most any damn thing, but you won’t stick to it without a “why”.
and awesome contest!
Ok John. You’ve got the ‘onliners’ buzzing.
The action takers but not necessarily the tinkers have already jumped in and given you their response. You’ve quickly torched them (in a nice way) and have possibly sent some into oblivion forever.
Now the ‘procrastinators, fear gods, the non action takers’ who refer to themselves as the ‘thinkers’ will ponder the answer over the weekend; many of who will have long, sleepless nights and will deliver their response next week. International drug companies (legal and illegal) will thank you for the turmoil you’ve caused.
The strategists will collate all the responses, run it through a specially designed software program built by Bill Gates and give you their reply 5 minutes to midnight of 21 November.
But for me John, the eternal optimist, I know the number one issue with entrepreneurs is ALL of the above + FEAR.
Fear to get started, fear of failure, fear of success, fear of being a dill in front of their mates, fear of giving up a pay check from a company they hate….you name it. They are riddled with False Evidence Appearing Real = FEAR!
Hey, nice to hear from you, Greg. But as I’ve already written a few times, “fear” is a problem, but not the biggie that arrives in the consulting I do.
Appreciate the whole notion of “tinkers”, good stuff…
In my 21 years of consulting I found that the biggest barrier to success was the person being their own worst enemy — self-disparagement/denial of one’s own intentions, minimizing one’s abilities — shooting oneself in the foot.
Taking Action
Marketing
Proper planning
To nail it down to the ONE thing…you’re really making sparks fly in my noggin’!
My best guess would be their MINDSET.
If they don’t have their mind conditioned for great success and wealth, they will unconsciously **** it up. Even if they are so close to success they can smell it…if their mind is not in the right place…forget it. They will unconsciously sabotage their own success.
Good to hear about the sparks in your noggin’, David.
That’s the whole concept behind this kind of quiz. To get folks to fire up that gray slab in their skulls.
Good answer, too… but not the one I’m looking for.
Remember, folks — the answer is what I encounter in my job as a consultant to entrepreneurs. That’s a clue…
Hmm from this clue I guess I would say the number one thing blocking people is trying to do everything yourself. You need to be open to more partnership of mentorship, something like that like a fresh set of eyes long term.
I would say the #1 problem is not knowing their metrics. For example, not knowing the lifetime value of a customer.
To be successful you need A good plan along with great work ethics. The ability to keep working towards your goals.
Goof alert…I obviously missed Eric’s comment above, and your subsequent answer. Fair enough, try again…so this time I’ll go from the gut…ATTITUDE! Whether it’s the right answer or not, you wouldn’t be the first person I’ve heard talk about this, but as the years half piled on, life experience has a cunning way of proving wiser people than me to be right. “Attitude is everything…” have you heard that one before? And from the “personal life experience” vault I attest…every time my attitude sucked, so did pretty much everything else around me…business, relationships, life. Cheers
I am one of those who sometimes struggles on a daily basis
but it doesn’t stop me trying to get my S**t right and move forward in my little businesses.
I was torn between 3 answers so kinda having an each way bet on this.
1. Lack of Consistency – not paying attention to the detail that moves you forward everyday.
2. Waiting for Perfect – instead of getting it out there and working on it.
3. Squirrel Chasing – running after shiny objects that distract you from your true purpose instead of believing in yourself.
Good thinking, Paul. That’s why quizzes like this try to accomplish.
Keep trying…
I would say when encountering a problem, make a choice and keep moving. Don’t get stopped by anything.
Great post and discussion. Andy already said what I think – themselves.
I also think that thinking too small is a problem. I meet new entrepreneurs who want to set up on a shoe string, and think they can get all the advice they want for free. Sure they can get a lot of advice for free, but I see people doing absolutely bonkers things (do you say bonkers in USA or is it just a UK thing?) because they aren’t willing to pay for an hour of good business advice. (Doesn’t have to be at your rates, John!) The whole thing then becomes a hobby, not a business.
Good answer, Jane. It’s something I’ve written about before, and can cause all kinds of havoc in an otherwise-successful career.
But not the answer to this question… Thanks for playing, though.
Being a tactician not a strategist
Focusing on “how” instead of “why”
Cheers
Ofek
John,
I’d say it’s retaining the right mental attitude so that what may seem insurmountable obstacles to lesser mortals become simply ‘annoyances’ to overcome on the way to success
Low self esteem
1. Failing to become a master of marketing.
2. Not taking action until everything is perfect, which of course it never is. ‘Perfection kills momentum’ as I call it.
The number 1 problem facing aspiring entrepreneurs is “balance.” Without balancing family, friends, social interaction and work the feeling of living alone can consume everything.
That’s very important, Ken. Up in the top ten, but not what we’re after here…
Here are my two guesses…
— EGO. The majority of entrepreneurs get sucked into this concept of looking “professional” and “dignified.” So they tone down their marketing. In plain english, not enough brass balls, personality and gusto in their marketing.
— They don’t ‘Get It’ (scuttlebutt session with Gary Halbert). They don’t understand the whole system of business and what their main objective is. Many don’t know that ultimately, the purpose of a business is to be profitable. Therefore, you should focus on operation moneysuck.
Hey John!
I never had the occasion to sincerely thank you and all your teammates to be my copywriting mentors and for making available your vast knowledge in direct response to the general crowd.
I’m only 19 now and you know what? I was able to afford a 3 weeks long trip to Germany ALL thanks to the earnings brought by my freelance copywriting activities.
Having said that, I’ll shoot an answer based on my personal struggles: the BIGGEST problem of any entrepreneur is definitely having to deal with UNEXPECTED events.
Things that the entrepreneur didn’t forsee he would encounter on his way to financial freedom and a meaningful life.
And I think it’s actually the job of a consultant to mentally prepare the entrepreneur to deal with any “black swan” that can come from not only his business but also his professional life.
For example, the entrepreneur can affirm she’s prepared to work until very late… but once she realizes her venture prevents her from attending her 3 year old’s ballet class ever again (or whatever), it might be a deal breaker.
In short, “black swans”/unexpected events (that cause unforseen life changes) are the invisible entrepreneurial bone breakers that form the biggest problem of any entrepreneur.
Damn good answer, Ozan. And congrats on the trip, paid for by writing. You’re living the life, dude.
Not exactly the answer I’m looking for, however. (And folks should pay attention to the way I’ve carefully worded this “no” response…)
Hey Ozan,
That’s awesome man!
Did you go through the simple writing system to get you chops?
Indecision
Hi John,
Mmm, good one…
See I was going to say the number one obstacle was not having a good mentor, or not consulting with someone who knew the intricacies, nuances and dodgy characters lurking down the ‘dark alley’ of entrepreneurship.
But you’re sneaky…so I’m thinking it may have something to do with the mechanics of biz, rather than ‘inner game’ stuff or getting outside assistance.
From my limited experience I’m going to say its choosing to go into the wrong kind of business in the first place i.e. high risk, low margins, lukewarm market.
Either that or not focusing on the aspect of your particular business that would be most profitable in your nich.
My two shiny pennies…
No STRATEGY in place.
Most are kinda winging it without really knowing what works, what their numbers (metrics) are, and chasing allthe new shiny objects in their industry.
Not knowing their market. Not understanding who their “avatar” is.
HI John,
I think the #1 Problem that Entrepreneurs face is themselves.
What I mean is they allow their own thinking to get in the way of their success.
It would be their bias towards their own preferences. In other words, if someone believes that 1 + 1 = 3, then he’ll act as it’s 3 no matter if someone else proves them wrong or not.
Therefore, even if they are instructed on how to do things the right way, they’ll fall back into their own patterns of behavior, patterns that may or may have not served them right so far.
It’s the same thing that happens when they receive copy …
“Hmm … my niece thinks that this should be worded another way …”
“Hmm … that would never fly with my market”
“Hmm … what if we change just the headline, lead copy and closing to make it similar to what we’ve done before?”
It’s hard to change a mental bias, especially when the right thing is counter-intuitive compared to everything you’ve done so far.
🙂
Razvan Rogoz
Nice. Not exactly the right answer, but nice thinking, Razvan…
Figuring out the answer to the question, “what makes people buy”?
Want to go really, really deep?
After you get your first entrepreneurial successes, you reach a deadly dangerous zone: you become comfortable and lose the motivation to keep pushing on.
It’s the trap of comfort that leads to body fat, a boring marriage, an uneventful life – and a forever small business.
Thanks for asking, by the way!
Actually, many entrepreneurs experience something more akin to depression when they first hit massive success… because the game has shifted, and without struggle, they can get bored and irritated over the day-to-day management of an ongoing biz. It’s a good point to cover, and I think I’ve written a post or two about this phenomenon in the blog.
Not the big problem for entrepreneurs, however.
Thanks for sharing the deep thoughts, though, Gabor. Always been interested in Hungary…
Hey John
I’m guilty of missing too many of your posts the last couple of years. It sucks when life gets in the way.
My guess would be: A lack of focus on doing the important things needed to run and grow the business.
Thanks for great material.
Cheers
Colin
Once more unto the breach, John…
Is their biggest problem: defining what their biggest problem is?
(Or is that being a touch too reflexive?!)
The number one problem faced by entreoreneurs in their quest for success is the fact
that they have not yet stumbled over you because if they would be on your email list
they would find out in a week or so thanks to you what is that number one problem.
I am not sarcastic. There are a few of top marketers who pretend expressing
not the second biggest problem, not the third biggest but the biggest,
the Big Kahuna of entrepreneurial obstacles.
Definitely, yours opinion is to be one of the most valuable and applicable
for entrepreneurs in their quests for success. For the following reason:
You, John, are never cheap in your interactions, you are never a clone of
hot prevailing cliches and manipulative approaches. You are one of those
very few top marketers, who are normal and wise.
So I am waiting for Your interpretation of the number one problem
faced by entreoreneurs in their quest for success.
Well, thank you for the kudo’s, Stefan. Talk about putting some pressure on me over the answer…
Seriously, though, I believe the answer will be a bit of a wake-up call for many folks. Remember, it’s what I’ve discovered to be the big problem of entrepreneurs during the 30-year window of consulting I’ve done, so it’s based on reality, not theory. So I’ve got that going for me…
Thanks for the note.
Thanks John for your reply.
Sure you will disclose soon not a sort of a theory-based issue but the experience-based reality. I dared calling you normal and wise. What you will disclose will be not so much a naming of a problem as it will be an expression of wisdom. Wisdom, which is acquirable and transferable only in a joint spin of your self-reflection and reflection of other entrepreneurs during your 30-year scope of giving them your honest advice and profound methodology. Only wisdom is usable and applicable by all different kinds of people or entrepreneurs. Entreprenurs need today hearing the wisdom from marketers. So I am waiting for it.
Self Doubt and Lack of Self Confidence, which are two sides of the same coin.
Robert Wright
Hi John,
I think the answer to your question are the specific behaviours that are absent in clients, their personal behaviour is incongruent with the goals and strategies you give clients to follow.
Raja
I think the number one problem is:
How to create the biggest impact and give the biggest value to transform the industry/market so that people can have a bigger, or more decent life because of them?
Thanks.
Finding a hungry crowd.
That they think they know better than the experts.
Hi John,
I ran into the situation that I started with a business partner a business with several products and we made some sales.
But we were unable to increase those sales substantially and also failed to increase our customer base.
I think this is the biggest problem of entrepreneurs that they start, have some success but then hit a “glass ceiling” in the sky that prevents further progress and they are unable to grow their business. And they need help to make the next step an break the “glass ceiling” barrier preventing further growth.
So my answer is: “glass ceiling” in the sky
Interesting take on a very real problem amongst entrepreneurs. Though, the glass ceiling reference (unfortunately) still applies mostly to women trying to reach upper levels of management in corporations.
Hey John,
What is the NUMBER ONE PROBLEM faced by (us as) entrepreneurs in their (our) quest for success?
Getting our head out of the sand, to get out of our way. Our perspectives and mindset constrict us in a tight, little inner-reflective bubble – sight unseen by us.
We’re being intelligent and logical; trying to do business with everyone/everything ‘outside of our bubble’… thinking their world is the same as ours… but it’s not. All we’re seeing is our own reflection; so we miss the mark.
If we put intellect/logic aside, and were completely honest; we’d see we are mostly just playing games within ourselves, unknowingly. To get out of our own way, means ‘we must BE in our own way – we’re the obstacle!’
‘We don’t see the world as it is – we see it as we are’.
…that’s my quick two cents worth; and hey, if it’s not the answer, at least it’s enlightening.
Looking forward to your new book…
Nice answer, Des — shows you put some real thought into it. Not what I’m looking for, however.
This quiz is fun ++. Thanks.
Persistence is my number one.
I don’t have it. My wife is genuinely surprised when I actually finish reading a book – I usually have half a dozen on my bedside table. Same thing on line, with a few really good things currently incompletely read. My website needs lots of attention to recover it’s status with the big G after penguins and pandas etc. It’s not getting it.
Persistence IS a huge problem in the entire human race, Jim. No doubt about it. And it’s something I see in the consults I do with clients… but not the biggie.
(I’m posting this again here, because I didn’t use the form right and posted it under someone else’s reply earlier on)
Here I go again (:
I really liked the Envy one, Ego is nice too. Jealousy… (:
But that’s probably not what your looking for.
Here we go:
Not taking life as it is, for what it is, and as it comes (I can’t find the right words, but I guess you know what I mean).
p.s. good thing I’m posting this again, I made a typo the last time “like” should have been “life”.
The biggest problem is not knowing who the ideal customer or client is. Who are you trying to reach and sell to. You need to imagine them as one person – think through every detail about them – get beyond the demographics and into the psychographics of what makes them who they really are. Think about the what their life is like – how they spend their leisure time and what luxuries they buy. Think about their values – what do they think about -care about – what keeps them awake at night. You need to be able to first identify them and then reach them on an emotional level.
Nice summation of prospecting a niche, but not the main problem entrepreneurs face.
Hi John,
I think the answer is PERSONAL BEHAVIOUR. (Lack of)
I think most clients do not possess the kind of personal, congruent behaviour that’s needed for compliance and alignment with the goals and strategies given out in your consulting.
Raja
Helping enough people solve their problems or giving them what they are looking for.
how to get and hold good help/
knowing when to expand their operations and take on assistants.
It’s overcoming the propensity to to do the thing right, rather than do the right thing. They become pre-occupied with ladder climbing techniques and fail to ensure that it’s leant against the right tree first.They get bogged down with detail without ensuring that the fundamentals are in place first.
This is an interesting problem that many have. Not the answer I’m looking for… but while I’m not accusing you of having this particular problem, John, you’ve reminded me of a side benefit of quizzes like this: The first answers we often come up with are personal issues we’ve struggled with. A good quiz can be like a Rorchach test — and it’s good to know what that kind of brain-plumbing can bring up.
Thanks for the note.
Great book John, I got the kindle version..I will love get a copy signed by you.
here we go:
The BIG Problem is…how to find your Magic Power..in another words: USP …
Peace
Hi John, I think the #1 problem is what Zig Ziglar called “Stinking thinking”
It’s failing to take control or direct all the big and small thoughts going through your head everyday.
Lot of good answers above. Your thinking covers them all.
Thanks
Here’s my go – how about the abilty to find a hungry crowd then give them something they would love to devour
Hey John,
you’ve really put the cat among the pigeons here.
I am kind of basing my answer on over 20 years of working with clients and here’s what I hear so often.
People have wonderful ideas for a business and maybe even a biz plan.
The thing that stops them is that way deep down inside they don’t believe it.
Right there in the privacy of their own mind they don’t really believe that the idea will work OR that they are worthy of the Kudos, accolades and moolah that goes with having it work.
People self sabotage through no other reason than they bought into the crap that everyone else bought into, from everyone else.
That’s it. Plain simple.
Hope this helps…
Mike The Thai guy
PS: Once we stop believing everyone else’s crap and begin taking responsibility for and ownership of our own lives, pretty much anything is possible.
😉
The biggest problem for most entrepreneurs is getting advice from people who haven’t been there.
For example…
What do you do if you are in the danger of a giant lawsuit which threats your whole business?
Only getting advice from a lawyer is the wrong way to do it.
You better also get advice from someone who also got sued and mastered the challenge.
Only this person can give you *real* advice how to handle this situation because he/she has already been there.
That’s the reason why mastermind groups are such an excellent experience. The chance is high that someone in the group has already faced a similar problem and that’s pure gold.
Yo JC, you got me with this one. Curiosity meter skyrocketing and of course I want the book.
#1 Problem with entrepreneurs is that they’re chasing entrepreneurship for the wrong reasons.
They are totally naive about the payoff. They think they’ll make easy money and live a cushy lifestyle, they think they’ll gain celebrity, cooler friends, hot chicks, a nicer car, and the internet marketing dream of making money while you sip pina colada’s on a hammock in the virgin islands.
And some will.
But if that’s your reason for being an entrepreneur you’re in for a long road of MISERY.
If what primarily motivates you is anything other than a throbbing boner for the work itself, you’re doomed.
No marketing advice, obstacle removal tools, persuasion ammunition, mentorship, business plan (god help you if you think your problem is not having a business plan) or diving deep into your “inner game” will make you successful.
You gotta LOVE the work like it’s the oxygen you breath. Without it, you’d die.
-Rockstar
PS – Yes coach, I said boner.
I think the number one problem is….
…Sorry, but I am too overwhelmed to come up with my own ideas about what might be number one at the moment, so I will have to borrow someone elses, and since no one else is here I am at a loss about what to do…I am alone, no one to ask, no one to answer, no one to discuss ideas with…
So who do you trust? A friend of twenty years will betray you for money and power so you have to start again (don’t ask) – and you are alone again. But you can’t do it in isolation, need help…..
The answer – myself, just myself, no one else, all alone, isolated, no one to watch my back, no one to give feedback…just me.
Hi John,
I think the number one problem for entrepreneurs is not acknowledging the fact that success is a process NOT an event. Everyone is looking for a “quick fix” and the “magic bullet” that will solve all their problems.
Perseverance is the key to success in the midst of all the sh*t life throws at you. Hang in there long enough, put in the hours and you’ll be rewarded.
Thanks
I had that note up on my office wall for years: Success is a process, not an event. It’s ingrained in my brain.
Not what I’m looking for here, though. Thanks.
John,
My guess is lack of delegation. Just because you can do something, it doesn’t mean that you should.
After reaching a certain level of success, people tend to get pulled into every little nook and cranny of their business. They get too busy to grow their own business or end up getting sick of it all together. They need to delegate some tasks so they can take a step back and redraw the big picture or just take a breather.
-Joe
Hi John,
The number one problem entrepreneurs have is not the problem, but the way they think about the problem.
Having the the wrong mindset.
Joakim
Wow, nice try at cloaking your answer in such broad terms that it just might have touched on the correct response, since it covers just about everything under the sun.
But no, not precisely what I’m looking for. I’m chuckling at your answer, though — nice, sneaky way to approach the quiz. Thanks.
Hi John,
I’d say it’s doing the opposite of “Operation Money Suck”. Entrepreneurs try to do everything themselves – instead of only focusing on what brings home the bacon .
The old: “If you need something done – you better do it yourself” mentality. That’s my 2 cents anyhow.
Hi John,
I think an entrepreneurs biggest problem is Perfection
Best,
Robert
Oh, and just to be clear, I’m not suggesting that you love working so much that you’d do it even if you weren’t being paid. There’s no such thing as an entrepreneur who works for free. This includes barters and trades too. An entrepreneur is friends with money, but it’s a really lovely, convenient, advantageous side benefit to winning the game of being a genius of your craft.
John, as a coach and advisor, how do you handle this situation: The client comes to you because they are not successful, they do not know what they are doing, and they know YOU do. Then when you give the advice, they argue or do not listen.
Hi Bob. Yes, this is a common problem… and it’s the reason you need thick skin to become a good consultant, as you know.
Not exactly the Big Kahuna problem I kept coming across in consults, though. Good to hear from you…
Here is my answer, learned from 7 years of helping my wife survive late stage cancer.
The problem is = Not adjusting/recalibrating and getting swiftly back in the right direction when bad things happen and/or when we find out that we have drifted in the wrong direction without our awareness.
We all have a goal we want to reach. But shit constantly happens and we get off course. Or we go off course on our own, even if shit doesn’t happen.
If we don’t constantly recalibrate and adjust, we will get somewhere. But it might not be the place and situation we wanted to reach.
Am I getting close John?
Hi Bruce. Glad to hear you speak of surviving cancer. It’s a gruesome life-change, but there are lessons to be learned from the struggle.
Have you read “Psycho-Cybernetics”? It’s one of the early books that helped me in my career, and the good Doctor Maltz talks of the self-adjusting way of approaching goals so tangents don’t stop you.
You’ve shared a good tactic for attaining goals, for sure, here. But it’s not the main problem I see.
Let’s try again… They can’t seem to dump a loser project?
Entrepreneurs need to focus on a passion they share with a hungry market.
Picking the right niche or product to sell
It’s strange because i was going through these comments, I got about half way through and then it came to me. Working for the wrong reasons or doing work you are not passionate about.
I then scrolled down and the last comment (Stacy) has said the same thing.
But that’s my guess anyway.
As a second guess I would say being unhappy in general and lacking motivation would be a big problem.
I see the “passion” thing come up a lot when talking to entrepreneurs generally about biz… but not when they’ve paid for a consultation with me. The reality is that, often, trying to follow your bliss can lead you far away from your other goals… especially if those other goals include paying the rent on time and making a dent in the world’s issues.
I’m not knocking being passionate about your work. But there’s a lot of boring shit to be done in a day’s biz, a lot of things you’d rather not face, and a lot of struggle in between. For myself, the concept of working for myself was the big passion — working my own hours, in my own way, in a home office. What, precisely, I did in the course of each new gig was not put under the “passion” gauge. I often despised the early writing gigs I accepted, in fact. But I loved getting the check.
So, as much as many want entrepreneurial success to be about “passion”, I heartily disagree with the notion. This puts me at odds with a number of other guru’s, and that’s fine. I’m coming from the reality of being in business, and reality doesn’t like artificial standards.
Thanks for the note, Luke. It gave me a platform to clarify my position on this sub-subject. (And I believe Stacy would ultimately agree with me, though she IS in a biz niche she’s passionate about. That was a goal of hers, and it was important. For others, it can be a distraction.)
Hey John
I think an entrepreneurs biggest problems are
[1] working in the same way when they know the results they are getting are not what they expected.
[2]Sometimes they do not measure expected against actual results and thus have no clear direction.
The biggest problem most business owners face besides an overall lack of clarity in every facet of their business… is they don’t know their customers/clients, and because of this, marketing and getting clients is always hard… Most business owners have no idea who their clients are and what their clients want, so they are trying to win a game of poker with a blindfold on.
Stay fresh,
Kieran
Hi John,
Thanks for what you do. I think the number one problem is lack of training/mentorship from someone who’s been there before.
Thanks!
I believe that the number 1 problem that any entrepreneur faces is fear. It could be any type of fear. Fear is paralysing and can prevent any project from getting started.
Clueless about marketing.
I think the biggest problem is…NOT HAVING A DEADLINE. I believe you’re the guy who said, “Nothing Gets Done without a Deadline.” Right?
It can be a problem, yes, Susie, but not the biggie.
Hi John,
I guess to make a MISTAKE is the biggest issue.
John, I want to thank you for your posts and quizs on your blog. It makes one thinking!
With best wishes from Germany, Berlin,
Alex
Thanks for the wishes, Alexander.
Hi John,
Good question.
The problem is I am torn in my answer.
I think a real biggie and possibly the “number one” is that they DON’T do the market research. They just come up with a wing-ding idea and go, then they try to sell it.
Inventors are notorious for doing this.
In fact, didn’t Gary Halbert mention in the Boron Letters that some guy had approached him in prison about writing an advertisement for his “friend” who had come up with some “key type” invention? And Gary talked about how foolish this was just inventing stuff and then trying to sell it. In fact, a major running theme in Gary’s writing in the Boron Letters was getting familiar with the SRDS and “DOING” the market research, finding that hungry market, not just throwing some off-the-cuff invented shit into the wind and hoping it will sell.
And…
I said I was torn, because if that isn’t the number one thing, then perhaps it is entrepreneurs not forming a proper sales funnel. Having no back-end. Just running a revolving door business. Customer comes in, buys, and goes–gone for good. Tons lost in back-end sales. Not to mention, they get spanked in customer acquisition. It is so MUCH easier to get a sale from a customer that has already bought then it is to bring in a new one.
Ok, that’s my go at this.
Rock On!
All the best,
Mac Bull
“The American in Japan”
These are, indeed, both issues with entrepreneurs, and big enough to be in the Top Ten problems.
But not the main problem I’ve seen.
When a person changes something by creating ( in every ares of life ) he is bound to experience certain changes in himself… a quick , healthy dose of courage, adjustment, confidence, own attitude is essential to overcome these, stay on track and move on towards his desired goals.
Not paying enough attention to your foundational structure. Your system, funnel, if that is in place and set up correctly, any problem or issue will be obvious. Any problem can be traced back to the cause and immediately corrected, fixed, adjusted, rewritten…
Just my 2c….
P.S.
Your system/foundation is built on intimate knowledge of your customer and market. What the pains, dreams and needs are…
Having already read “… getting your shit together”, I’m going to go out on a limb here and say the #1 problem = Not knowing if there is a market for your product/service. Go out and “pre-sell” it before you design the damn website.
At least that’s what I’m doing with my latest business venture (A winery in the Caribbean)
Oh, and I’ll still take the signed copy if my answer is right 🙂
Remembering to focus on discovering and providing what the market needs/wants, not trying to force the market to adopt a product the entrepreneur loves.
Hi John!
Not having read through all the posts and just putting my thoughts out there…
Here’s my take…. Getting out of your own way.
Thanks!
Beverly
Great ideas, great plans, lots of books and courses but failure to execute — failure to do something and then something else if that doesn’t work.
Fixing the wrong bottleneck.
Knowing what step to take next.
Hi John
The number one issue holding entrepreneurs back is laziness. Just based on my own experience.
I want to do anything but sit and learn how to write and then write copy. I have a good vocabulary and want to increase my income, but I have my own business and would rather write killer copy for my own business and then use the rest of any free time to do all my other chores and build the infrastructure supporting my dream.
I like attending conferences, retreats and workshops and spend a lot on them but it takes time and money to afford them. Then I want to beautify my surroundings and learn mosaic so I have to procure the tools and supplies for that hobby and plan a design, lay it out with tedious tiny little tiles, then mortar and install on vertical walls grout, seal and polish.
I have to research all the nuances of the healing services that are my primary job and be my own publicist, blogger, accountant, marketer, copywriter, web designer, as well as play out the daily grind of my primary job
So when I have free time, I just want to meditate, paddle my kayak, ride my mtn bike or hike in the forest. I don’t want to work on researching someone else’s market, etc. I just want to look after my inner self.
This may be a troll of an answer being honest about not being all fired up to learn copywriting. I see its necessity but I am sluggish. Your provocative discourse makes you one of my favorite copywriters and I appreciate the great mentoring online.
Hi Nancy. You will not find a lazier human being than me… though many of my colleagues are in the game… and we found ways around it. It’s a problem, but not a biggie. The ability to embrace your Inner Lazy Ass and still be successful is a primary reason many folks become entrepreneurs in the first place…
On a deeper level, motivation becomes the issue. But that’s not the main problem I see, either…
The number one problem is losing objective focus when problems arrive.
Often they will throw time and money on bad decisions and wonder why solutions didn’t work. Unfortunately they remain stubborn past the expiration date of their bad situation.
Ok after careful thinking, hope I have this right now.
The number one obstacle is wasting time putting out the “fires”, instead of working on something that will bring in the money.
Addendum to post.
The need to always look a t situations objectively and determine obstacles is necessary. I personally like the conflict resolution method to help in clarity.
ME. Ourselves. Just depends upon what grammatical sense you’re using.
We think we know what we want. We think we can see ourselves in possession of the completed goal. But we really don’t.
As Earl Nightingale said, “We are what we think about.” Thus all that we have done (good and bad) is because that is what we thought about.
Our biggest limitation by far, bigger than all other things combined, is that we truly don’t see ourselves doing what we tell you what we want to do.
Thus our sub-conscience works “over-time” to keep us where we are to make us happy.
So my biggest challenge has been to truly see myself in the future in the life I am shooting for. And then figuring out what kind of a person becomes that future goal and then see myself as that kind of a person and practice doing those kinds of things that that kind person does now.
It is ok if you decide to give your book to someone else. Odds are that I would get more out of your book if I paid real money to get it rather than to have you just give it to me.
I think it is time to listen to and read KACSOAMR again.
Stay frosty man and thanks for everything. I’ll be chilling here in Iowa staying warm reading some David Ogilvy after I finish the Nap Hill book I’m in now.
Good post, great answers… can’t wait to find out what it is…
But I’d say it’s finding an effective work/life balance in that quest for success. Enjoying the journey.
Taking massive action, of course!
Hi John,
I believe the biggest hurdle to success is the baggage in our head. At the Success Magnet event, Heather used the word vulnerability. That may be the biggest hurdle to success. As entrepreneurs, we try new things that sometimes work and sometimes don’t. They are new and untested, which means they may fail. We may be laughed at. We may be told we are stupid. But, we still have to try. I think the fear of failure or actually having a piece fail keeps us from trying new and great things which would lead to great success. If we can break that barrier with knowledge and sometimes just plain old guts accept the risk of failure, we can achieve success. In most cases…easier said than done.
Thanks.
Bob
Good answer… but not the one I’m looking for, Bob.
The Biggest Obstacle that exists
whether it’s between an entrepreneur and prospect
or between consultant and client has got to be the
greatest force we live with,the abilty and effectiveness
or lack of the ability to PERSUADE
Without it WE do not exist
The number one problem faced by entrepreneurs is trying to figure what all this “stuff” actually means. They thought becoming rich would solve their problems, but they still have a host of inner demons that need to be worked out. The number one problem is regarding self actualization and trying to not feel like all their endeavors have been for not and realizing it too late – after their wife has filed for divorce and their kids are off at college.
We need help finding meaning in our lives, but instead hide underneath the success of launch after launch or biz after biz.
Hi David. Good answer, and definitely one of the problems entangled in the ultimate “right” answer here.
But not, precisely, what I’m looking for.
Entrepreneurs/people don’t have their shit together. They don’t know what to do, in what order to do it, how do it,and went to do it and your book answers those questions which is really the number one thing that entrepreneurs can do to get their shit & business together.
Based on my own experience and some of the clues I’m seeing, I’d say the Number One Problem faced by entrepreneurs in their quest for success is…
Fear Of Failure.
Is that close?
Respectfully submitted by,
J. Daryl Thompson
Hey, Daryl, long time no hear from.
Fear is big, and I gave some longer answers earlier in the thread, cuz it was coming up a lot. You know I have particular love-hate relationship with fear, and it’s huge in getting to levels of success…
… but it’s not the main problem I see.
Good to hear from you.
the problem is not having right vision and mindset caused by lack of informations and by the people that surround them… something that make you not seeing the way … that is the problem I think …
Dear Mr. Carlton,
[I figured if I started with that, it would catch your eye 🙂 – hopefully it doesn’t disqualify me]
I think the biggest problem is thinking that if they are good technicians (plumber, accountant), that they will also thrive in that business. Classic e-myth stuff.
Thanks,
Jiyaad
I was wondering when someone would mention the E-Myth. Hope you saw my on-stage interview of Mr Gerber (from the first Action Seminar).
Not the right answer, however.
John, for the newly minted entrepreneurs I work with, it’s almost always marketing. But, marketing is actually a pretty easy fix – it’s not hard to get customers when you get the right help.
But, what I’ve found in my own businesses, and with the more advanced clients that I coach in my industry, is that most entrepreneurs have never put their finger on a deep and abiding reason why…
Life is tough. Things go haywire. Promotions flop. Customers come and go. Business partners screw you. Etc.
The thing that kills many entrepreneurs who face these challenges (and we all do, at some point) is that they don’t have a deep enough gut to power through. And, that sort of gut is powered by their reason why. It has to be more than just making a fortune; that’s the weakest reason why of all…
Nope. You have to have a reason for getting up every day and doing what you do that goes waaaayyyy deeper than making a better buck than the next guy or gal. It has to be something that hooks you so deep in the entrails, every time you tug on it your proctologist calls you for an appointment.
So, it’s finding a deep and abiding reason why, one that wakes up your passion and shakes you to the core of your soul.
That’s my take on it.
Good answer, Mike. I like your thinking.
Not what I’m after, though. The answer I share may surprise you…
Hey John – my answer is similar to Ana Terez’ above, except for the first part.
SHORT ANSWER:
Ignore shiny objects and focus on work that brings in money.
LONG ANSWER:
For me and for our business, the number one problem we have faced is dealing with “Shiny Objects”. The past three years we have bought just about every new product offered by “gurus”, all teaching the latest and greatest way to “make your business better”.
We’ve joined two different high-level mastermind groups where the advice has always been… “You need to be doing X”, where X is always some new fandangled way to siphon money from peoples’ wallets.
The real solution for us (which we discovered over the last few months) is to keep doing what we’ve been doing for the past 15 years that has ALWAYS made us money… except we need to do MORE of it.
If we only realized this 3 years ago, we’d be so much further ahead.
This is a huge realization that even veteran successful entrepreneurs have to keep learning, over and over again. Very good answer, Duston… especially since I’ve observed over the years that many folks become entrepreneurs because of ADHD, dyslexia, or other so-called “learning problems” that made them poor students, and even poorer employees in a J-O-B.
Shiny Object Syndrome is a very real problem.
But not the big one.
Taking action! My first response was going to be copy, but I’ve bought every damn thing I thought would help me change my business model to 90% info marketing. I have all the info I need, taking action is key! Knowledge is not power. Applied knowledge is power.
So then to my second answer, COPY! Knowledge wise, I am in the top 5% of all credit repair company owners in the US. I worked hard to separate myself from the scoundrels out there! Unless I learn to write killer copy that provokes action ( I did recently buy your “Kick Ass Copy Writing Secrets”) it doesn’t matter how good I am. BTW- I invested around $2,500 with another famous copy writer and i learned more about writing copy on your $99 course than in the 12 DVDs, 4 manuals, 700 CDs I got from the other guy. Not knocking him, he did what he’s supposed to do. Get me to spend my money. You provided condensed VALUE!Nuts and bolts! Because of that I have referred you to everyone I know in business except my competition.
Resilience. The ability to bounce back and stay the course through doubt, fear and challenges. We give up too easily and too quickly.
I had a discussion a few years ago with a client that has 30 some years of experience starting and running all kinds of businesses. Newsletters, pizza shops, art stores, movie deals, real estate… you name it, he’s probably tinkered with it.
He was explaining the difference between the ventures that went on to make him millions and the ones that flopped.
The line that always stuck with me is “The things you don’t know you don’t know are the things that kill your business.”
And that’s been pretty accurate with entrepreneurs I’ve known since then who failed or gave up.
A restaurant owner will bankrupt himself spending money on marketing when his real problem is food and beverage costs… A newsletter publisher will go out of business trying to make their backends work when the problem is they’re not getting enough new front-end subscribers…
The number one problem I see in entrepreneurs (and CEOs, managers, and even a lot of freelance copywriters) is that they don’t even know what their problem really is.
Nicely put, Henry. Perhaps close to the answer I’ll be sharing, but not right on the nut.
…and that’s second most important business lesson… You don’t have to be wrong to not get it right.
Looking forward to your answer.
I’m really enjoying reading all the answers, and also how you’re shooting ’em all down. 😉
I’m going to go with #1 problem: lack of priorities.
I feel like we all have great ideas, new things to learn, shit to implement… but if we’re not prioritizing these in the right order then we’re not really doing the important things that will move the needle in our businesses.
#1 Crime: Audiences today WILL NOT Accept your company messages, copy, ads, BEING BORING! They are fickle and flighty and easily distracted, they Need to be Interested! Or you will perish…
Hi John,
I think the number 1 fear from the entrepreneurs I know (myself included) is CHANGE. To be successful, most people have to make changes in their life…..some are small, others are major. It’s not easy…I know !!!
Gonna go with some of my own vocabulary: emotional autonomy. Or rather, the lack thereof.
Emotional resilience would be another way to put it, but perhaps not as accurate.
Having emotional autonomy lets you take proactive action, and not make decisions based on fear or pressure or whatever other flavor of reactivity.
Another way to express this idea is a classic Dan Kennedy quote: “The biggest attractor of wealth I know is ‘immunity to criticism.'”
Close?
Book is fantastic btw. Bought the kindle version when you launched it. Halfway through a re-read. Cheers.
Linus
You made me think about this, Linus. Not the right answer, but a definite issue with some entrepreneurs.
However, as I look back, I’ve known a LOT of emotionally-wounded, psychically damaged folks who did quite well in biz. They were twisted wrecks as human beings, took things personally, and got divorced regularly. But they consistently earned moolah hand over fist…
Weird part of the human tree, entrepreneurs…
The biggest problem for the entrepreneur is NOT really knowing or communicating with and about the biggest problem, the Big Kahuna problem of their Customer and speaking directly to that hot, uncomfortable ‘jonesing’ type place in them when they sell their idea, product or service. .
What is the number 1 problem entrepreneurs face in their quest for success?
Truly Identifying the market we are in.. Surely…
Pitching to the wrong market (no matter how wonderful our copy, product or service is) is about as useless as tits on a man…
This is where mentoring can be enlightening, because most of us don’t look outside the microscope of our own industries for any potential markets or prospects (Been there, done that…) Mostly because we don’t have any experience outside our own industry.
The assistance and guidance a mentor, with a bit more scope and experience within a cross section of markets, can bring to the table, can be the difference between success and failure.
Q; What is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success?
A: A clear concise picture of our ULTIMATE desired outcome, before we even start.
Q; What is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success?
A: LACK of a clear concise picture of our ULTIMATE desired outcome, before we even start.
…Selling what THEY like instead of what the CUSTOMER wants.
Hi John
The enemy is resistance. The enemy is our chattering brain, which, if we give it so much as a nanosecond, will start producing excuses, alibis, transparent self-justifications, and a million reasons why he can’t/shouldn’t/won’t do what we know we need to do.
A professional distances herself from her instrument. The pro stands at one remove from her instrument — meaning her person, her body, her voice, her talent; the physical, mental, emotional, and psychological being she uses in her work. She does not identify with this instrument. It is simply what God gave her, what she has to work with. She assesses it coolly, impersonally, objectively.
Does Madonna walk around the house in cone bras and come-f*k-me bustiers? She’s too busy planning D-Day. Madonna does not identify with “Madonna.” Madonna employs “Madonna.”
In kindness,
Colli K Christante
Wait… you mean to suggest that Madonna DOESN’T do housework in cone bras?
You’ve crushed my 80s fantasy, Colli.
Nice thinking on the “distance from instrument” thing, though as a musician I might argue that at a certain point you “become” your instrument (as I instantly meld now with my keyboard when writing)… but not the answer I’m looking for.
Hi John
I think Number one problem is “Try to be Mr.Perfect”.
Entrepreneurs don’t have to be Mr.Perfect.
Not having a plan… to make money.
Their lack of a true 100% commitment.
No 1 Problem: ACTION
You get get all the ideas that you want,
Read all about the best marketing strategies,
Get he latest shiny whiz-bang lead generating capture page generating WordPress plugin (with orange buttons),
read all the best blog posts,
… and reach the end of the day and STILL haven’t implemented anything to make a dime.
Flip your day and DO SOMETHING the first thing in the morning that actually will bring you money and success will approach.
(I know, because I’ve got this problem!)
Hi Bob. No, it’s not taking action. Getting stuck can be a problem, but it’s not the main struggle I see in consults…
Hi John,
Great way to get everyone thinking, my thoughts on this is that the business owner continues as a technician, and does not move into the role as CEO. This coupled with thinking that his/her business is so unique that things that work in other businesses will not work in their business.
Right then John, gonna throw my hat into the ring here for my shot, so here goes…
Most of the answers are great, and I would have probably chosen something along the lines of “just get the damn thing done”, but being sneaky and trying to find that clue in the answer you gave to Ozan, I’m going to give my answer simply as this – getting paid.
True, you’ve got to be in it for the love too, but if you don’t or can’t charge appropriately for a job well done (be it a service, product or whatever), and your bills are piling up, you’re not going to stay in business for long, which doesn’t do either you or your customers any good in the long haul.
How’d I do?
Hello John, I think (maybe) the number one answer would be continued learning. Just like you and Gary Halbert, kept yourselves sharp by teaching each other when you were his apprentice.
For me book learning isn’t the same as having a good mentor teaching you from their experience.
This may not be the right answer but I think it is a good one.
All the best…
P.S. Can I get a signed book even though I might not win?
…posted my first guess before reading all the others
The problem is not designing the lifestyle that you want to live and instead living just for your business.
All work and no play.
Not realizing the regenerative power of doing what you want to do instead of what your business demands (or could demand if you spent all your time working)
Question: What is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success?
My answer: Letting unexpected obstacles discourage them to the point of giving up.
Here is my answer: the number one problem you encounter as consultant for entrepreneurs is finding out they are not prepared for success.
Are entrepreneurs prepared to open the door once success comes a-knockin’?
Are they ready to be a good host, serve the right drink and play the right music?
Basically…
Are entrepreneurs ready to deal with an influx new customers in blink of an eye?
Most entrepreneurs that come to you for help are not ready. They are not prepared for growth. They don’t know how to manage going from 5 to 12 figures a month.
This is a stab in a the dark – totally closing my eyes and shooting in the room here. My answer is based on the fact that you have the power to scale someone’s bidness’ to the nth degree. So even if the answer is wrong, I was still able slip in a compliment here.
All the best, John. You are one of my favorite copywriters. I’d like to sit in a room with you and John E. Powers and take notes. Maybe in another life…
Raymond Duke
Fellow Cucamongian
Hey, always glad to hear from another dweller of the Cucamonga valley.
Success has its own set of unique and unpredictable problems, yes. But that’s not what I see in consults…
Hi John,
From all the quick firing answers above it looked like I’m a little late to the party.
I’m however, going to throw my hat in the ring and say the answer is “ego”.
The ego the client has invested in their own personal myth.
Tony
Ha – it’s finding that starving crowd, finding out EXACTLY what they want, how they want it, when they want it – and then giving it to them in such a “crack dealer” way that they come back over and over…
But it starts with the starving crowd.. doesn’t it?
Hi John,
Just picked up a copy of your book – looking forward to digging in on my next flight. (and we’re now bonded in a unique kinda way. MY book, published before yours so not a rip-off LOL, is called The Entrepreneur’s Guide to Sleaze-Free Selling. Anyway …)
I thought the big clue in your original post was “details.” And in my own consulting practice, the big problem I see in the entrepreneurs I work with is not knowing the difference between a strategic plan and implementation. Or, they get an idea and fly into action without stopping to write out the steps. If they did, most of the time they would give the steps to someone else to do (or at least to a different part of their own selves, once the big-picture thinking was done). It solves most of the BIG problems – lack of implementation, better results, less dejection and quitting over failed attempts, etc etc etc.
But then you said that Ozan’s answer was really damn close. So I’m trying to figure out if lack of a strategic plan could also lead to an inability to handle the ups and down of life … but I think I’m pushing a round into a square here.
But hell, I’m sticking with my first answer – it’s the inability to implement the details effectively while simultaneously providing big-picture vision.
Julia
Hey, congrats on your book.
Good, intuitive answer, too. But not what I’m after…
Hello John
I feel the biggest obstacle faced by entrpreneurs is lack of time(or time management skills).
Thinking “My business is different” or “my clients are too sophisticated for that” and failing to implement proven direct response strategies.
This is one tough nut to crack, John.
F*$%#n awesome question!
How about under capitalized.
Isn’t it always, one way or another, about the money?
Later
John –
Mental attitude is my No. 1 issue – that nagging subconscious lack of belief in the possibility of success. It’s deep-seated, insidious and unbelievably powerful. Without a firm belief that success is possible, the struggle is momentous.
Ability to prioritize and focus on the right things to be successful instead of being distracted day after day by red herrings.
So, here’s the question: Based on what you’ve discovered in your 30 years of consulting, what is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success?
“businesses suck at writing things”
I think the biggest problem with entrepreneurs always have been how they do not want to be (in their minds) shown off by an employee or hired gun. They think things should be done a certain way (whether it’s marketing, advertising, or any other aspect of their business), and that’s the way it should be.
This is what creates the “Business Alpha Males” that protect their ideas and views – even if it is detrimental to their business.
Copywriters see this a lot, because entrepreneurs really do not know their customer. They are so busy with other aspects of their business, that they really do not have enough time to do real research on who buys their products.
Unfortunately, this leads to arguments where (while you might be able to get through the ‘preneur’s skull) the majority of them cast you aside and decide to hire someone who shares their views.
The results – most of the time, business go belly-up because the proper measures were not taken.
A definite, definable problem… but not the huge one I see all the time.
Quite a simple answer to be had. The number one problem faced by entrepreneurs in their quest for success is that voice in the space between their ears. Overcoming beliefs is the beginning, but even more so comes to the idea of hope.
If you wake up in the morning with hope ( not my sister’s friend Hope – although that’d be kinda cool, too … and would be a contributing factor for not creating entrepreneurial success ) you can believe that you can do something.
Until that little effing voice wakes up and reminds us of past failures, unsupportive family members and friends – who had our best interest at heart – and the doubt creeps in.
Without a solid belief in one’s ability, can one really move forward?
That being said, the number one problem is that the entrepreneur feels he/she has to go at this all alone and therefore does not look to find a coach/mentor to help them “see” the opportunities or steps to take that may be missed by the untrained eye.
Hope’s on the phone for you, Neil, and she’s not happy…
Information overload causing lack of focus.
The shiny thing syndrome so-to-speak.
John, I think the biggest challenge is making the sale (getting paid). One way or another, with all the work and effort involved in getting a business off the ground, there comes a time when you need to sell something.
I have your book on Kindle…so I am working through it…tho’ I can’t call it work. Surprisingly enjoyable which is why you are the maestro. So the number one challenge for entrepreneurs is Consistency. Consistent pressure on whatever the task is that will yield the greatest returns. It’s certainly my greatest challenge because in the fable of the grasshopper and the ant…I am the grasshopper. Happy happy.
Hey John,
Congrats on your book!
The problem that derails entrepreneurs from achieving their ultimate success is:
Not understanding the “cost” of success. Failing to list and embrace what must be given up in exchange for what must be done to succeed.
It’s an approach (or lack) that will always bites your butt at some level (internal and external) and undermines true success.
Good answer, but not the one I’m after.
Remember, folks, my answer will be what I’ve observed over decades of consulting with clients. There’s something going on with entrepreneurs that very commonly holds them back… and it’s a problem with veterans as well as rookies. And, it’s a problem that can pop up even with dudes who’ve already BEEN successful to some point.
Nearly all the answers in this now-very-long thread are good, and many of the suggestions ARE things that pop up in consultations, and hold folks back…
… but it’s not the core, #1 problem I see over and over again.
I’ve loaded this thread with clues. As you might guess, it’s quite likely the correct answer has already been given. However, recall that I’m also giving out a signed book to the “best” answer, too. There are candidates for that prize, but still time to persuade me…
A lot of good answers. Some I would’ve said myself. So since those are taken, I’ll throw my two cents in…
Entrepreneurs have difficulty doing the work, the “right” work.
Action can be confused as work, but too many confuse busy work with work that affects the bottom line.
Work that creates, instead of consumes.
Work that builds good habits everyday.
Once they are doing the right type of work, they need to make sure they are doing a lot of it.
FEAR!
FEAR
Hey John, thanks for shaking things up! I really admire that about you.
The number one problem faced by most entrepreneurs is not having a stash of “UP YOURS Money.” One big enough to walk away from the bullshit opportunities you’d take just to feed yourself and be able to focus on what’ll get you to the promised land.
To build an “up yours” stash you need to live below your means and religiously bank cash … even when things seem grim. It’s a law of nature that if you do this, more money and prosperity will follow.
Take every entrepreneurial success along your path and bank some profit – don’t blow all of it like a damn fool.
The number one problem of entrepreneurs is thinking that an obstacle is a game stopper rather than a learning experience. Henry Ford wasn’t successful on the first try, but he did not give up.
I’d say it’s having no idea who you’re talking to because you’ve failed to clearly define your market.
Having an end in mind and the reverse engineer from there. And clarity and commitment. Peace
Have a great weekend.
Clients feel overwhelmed with the amount of work necessary to create a successful and do not know how they are going to find the time to complete everything.
Aldon
Hi John,
I’m a graduate of the valuable SWS course.
The number one problem faced by entrepreneurs is
THEMSELVES.
We get in our own way of success. One way to get us out of our own way is to have a laser like focus on what’s important. It was well explained by Curly in the movie “City Slickers.”
Curly: Do you know what the secret of life is?
[holds up one finger] This.
Mitch: Your finger?
Curly: One thing. Just one thing. You stick to that and the rest don’t mean shit.
Mitch: But, what is the “one thing?”
Curly: That’s what you have to find out.
Best,
Rob
Funny.
A lot of folks have answered similarly, and for some folks they really are in their own way.
But it’s not the answer I’m looking for.
I’ll just quote Sir Gary.
Self esteem is everything: The first “must have” for success is… the honest-to-God, no-bullshit belief you deserve success!
Perhaps it’s the inability or lack of desire to repeat and expand upon what is really working (with testing) and conversely reduce or eliminate what isn’t. In both business and life these things must be identified first and then followed through on.
Thank you!
The content from this blog would make an excellent eBook John. Just call it ‘The Answer’
Who knows what your #1 issue is. For me it’s the executing the actual roll-out and implementation of a good idea.
Most wannabe entrepreneurs are great at lighting fires but crap at remembering to put more wood on and hanging around to see it build up to the point where they get to enjoy the warmth.
It’s getting from concept to the launch pad and pulling the trigger.
It’s the ocean of tasks and detail needed to get the thing off the ground… but once you do… you’re addicted!
Cheers Ray. Toronto.
You’re right, Ray — just going through the comment thread here is a mini-education the way your fellow entrepreneurs think about problems, and what they believe is the main stumbling block of other entrepreneurs.
In an obscure way, this touches on the right answer… but it’s not exactly right.
The answer I’ll share is profoundly simple. That’s a clue, by the way.
Simple, but with implications to everything else you do in life and biz.
Hi John,
long-time (for me) in communicating with you. Had a Gliosarcoma brain tumor removed Aug 12th, and since then, have been living by doing the one thing every business owner MUST do for success … TAKING ACTION. I’ve taken more action and changed my life (and future outcomes) more in the past 4 months, than in the previous 40 months. TAKE ACTION is the answer. A Not So Frosty Kip (hyperthermia treatments raise my core body temp well past the “frosty” state! :))
Wow, Kip. Thanks for letting us know you got through that operation all right. Hope your recovery is fast, so you can continue on this new action path, pal.
“Action” keeps coming up in answers, and for many entrepreneurs it really IS the big obstacle to get past. At first, anyway. As Kip points out, once you adopt the habit of acting you start feeling uncomfortable NOT acting… so you’ve changed the way you interact with the entire world.
However, often that new sense of movement will just bring you face-to-face with the Big Problem that was just beyond the trees before. And that’s the problem I want to illuminate here…
Thanks for writing, Kip.
Forgetting about real life. Now you are so busy being an entrepreneur, but who are you really? Are you taking on some kind of persona that you think fits with being an entrepreneur? How are you going to connect with your customers that way?
Have a life! A real honest to God life. Have interests, be interested. Look, listen, learn. It can be an unbalanced life if you have the means to pull that off. Who care about balance? Do you want to love someone in a balanced way? Of course not. Your life should be extravagant too, like your love life.
Have a life!
Hi John, Love this quiz.
I Believe the answer is Belief. As in most endeavors 10% is physical and 90% is mental. You need the strong belief in idea’s and self to accomplish no matter what happens. It gives you the stubborn drive to get up,keep going, and try, try again.
The belief develops the faith that creates the vision that you have what it takes to make it no matter what happens!
My opinion is that it is the belief in your self to go look in that mirror and say I Can Do This! I Have What It Takes!
Without this Belief pr Faith in yourself everything can slow you down and cause you to falter.
Hi Ron. Belief systems come and go, and I know that while I partook of self-help books and lots of mantras regarding attaining goals in my early career… the actual act of eliminating my fear, and boosting my confidence enough to get through those first meetings with clients (when I was a raw rookie barely qualified to write the jobs), was just one step of the process.
Like taking action, adopting the mindset of believing you can do something (or at least knowing you can learn from the looming disaster, so you’ll not repeat the mistakes), is a necessary tool in your kit.
But it’s not the Big Problem most entrepreneurs I’ve consulted with face.
Hi John,
I’d say the the things that gets in the way of entrepreneurs is not knowing when they’ve got a diamond or struck gold (the hook) like the one legged golfer story when the guy says, “No one is interested in knowing that.”
Spreading themselves too thin!
I thoroughly enjoyed reading all the guesses, and I’m sure some of the answers are actually the correct #1 problem for some entrepreneurs. I’ll cull from my own experiences working with entrepreneurs and say the #1 problem faced by entrepreneurs in their quest for success is their inability to find a way to solve or surmount problems.
Lots of entrepreneurs are like Sisyphus, they have a goal (getting the rock to the top of the hill), they’re taking action (pushing the rock up the hill), they’re definitely working hard, and gaining ground as they work, but they fail to see the real “problem” before them, nor the true goal that should be achieved.
#1 Problem…No Deadline…or not having a deadline.
The number one problem faced by entrepreneurs is understanding psychology. Humans are part producers and part consumers. Therefore, there is “Producer Psychology” and “Consumer Psychology.” In business, you are the producer.
Producer Psychology
You have to understand your own psychology so you don’t set limits to your success. You can set the limit to the amount of money you think you can make (produce) in one year or how fast you can make (produce) money.
Consumer Psychology
You have to understand that their is a basic human shared consumer psychology. This is where salesmanship comes in. If you understand that humans like to win things like a signed book, then you just tapped into their consumer psychology.
Hi John – love all your stuff. Your copywriting course, freelance marketing course, your articles and recordings, and your book. I bought the Kindle version, and I can’t wait to get the print version in the mail, signed by you.
I think the answer to your question has something to do with entrepreneurs not matching their product or service being offered to what their market actually wants. It it ain’t what they want, they ain’t going to buy it. If it is what they want, and they know about it, they’ll come a -knockin’…
Hi Chris. Glad you already own the book.
The “market match” stuff is important, but it’s not been a huge issue with clients I’ve consulted with. It’s such a primary problem, and can be solved so easily (and often without going through the consulting process), that it doesn’t come up much.
I got two guesses for you…
1. Focusing on ONE thing at a time, and getting it done.
2. Finding out, and giving the market what it wants (not what you think it wants).
John,
Thak you for the opportunity but I will not take away a chance to win for some younger people.
I am 68 years old and I afraid you might out live me. Books/arttists’ work don’t really appreciate in value until the author/artist dies!
I don’t want the guilt hanging over my head if something unforseen happens to you. This way I know you will live a long, fruitful life.
Kicking and scratching in Vermont,
Stephen Anderson
My two guesses:
Looking at the world the way they want it to be, instead of how it really is.
Focusing on what they want to sell, instead of what their customers want to buy.
Time
Time is the #1 problem face by Entrepreneurs. Time to work on your business, market, plan, etc..
Time to work on and improve your own ability and skills
Time to have an outside of work life
Taking time to process and ponder all of the above
I was also heard that “Fear is the Mind Killer”, but that could have been in a movie or something.
Fear of failure/thinking they are not worthy.
Sales/Revenue
Second and final shot – Paralysis caused by not having a plan B.
I think that the biggest problem faced by entrepreneurs is to be able to step out of their own worldview or belief system and step into the worldview of their prospect and customer, and speak to the prospect in a way that she feels that the entrepreneur understands him.
The number one problem faced by entrepreneurs is knowing when to say “No”.
Knowing what you want
A plan
A mentor
Hi John,
Second attempt, showing some persistence for once.
“Chance favors the prepared mind.” Maybe the biggest problem is to be vigilant and flexible and prepared to immediately change course in mid stream when it is indicated.
Hey John,
The #1 problem faced by entrepreneurs is…
ego-centrism, the view that THEY are the center of the universe, and therefore ALL answers must come from themselves!
In one word: it’s themselves!
It’s endemic in our human-animalistic natures; that is, the ying-yang duality built-in to all of us. We are simultaneously the best and the worse for ourselves – positive & negative, etc.
As entrepreneurs, our ‘stripes’ (like zebras) are such that we can reach “a level” of success, perhaps even great success! However we can only go so far, a point is reached inevitably where growth by itself, will require OTHER talent(s), solution(s), answer(s) or deployment(s) — that we may or may not have.
When that point/wall is reached (hit), the entrepreneur continues to slam up against the wall (throwing the same stuff up against the wall always used in the past), or freezes, maybe panics. Hence, the confusion and “deer in the headlights” bewilderment.
The challenge is…
how do we unlearn what we’ve learned throughout our business lives? It’s akin to the circular problem — “not knowing what we don’t know.”
It’s difficult (at the very least)!
As the saying says: “if all you have is a hammer, then everything looks like a nail?”
What is that song that comes to mind? “If I had a hammer, I’d hammer in the morning, I’d hammer in the evening, all over this land…”
As for the underlying psychological reasons — everyone should at least take a Psych 101 class, and maybe 1 or 2 more…it’ll slap the humility back into us where it belongs, PRONTO!
Best,
~GRO
The meaning of success. Knowing what success means to us, not the meaning that has been instilled in us from our parents, teachers, siblings, peers, media, etc. We see and hear what other people define as success, but when we obtain “success”, it is then that we realize that we’re still not happy, even we are filthy rich.
Lack of capital and ideas.
Getting a mentor / coach / teacher who:
1. HAS achieved the Success one is seeking, and preferably more.
2. Is compatible / a good fit with.
when you go to your dentist, you do not tell him how to solve your problem.
But entrepreneurs are different … they are always sticking her oar in where is not wanted
Obrigado,
Reynaldo from Brazil
I’m gonna say it’s lack of specific, well-defined goals. Not having a clear goal in mind, just a vague feeling of “I want to improve my business”. Without clear goals its easy to be unsure of what to do next. Clearly defined goals help.
My $0.02 anyway.
…what is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success?
Simple -“Getting Started”. Procrastination is a bitch!
LOL. John, it is amazing that you provided a hint in your letter above, mentioned about it, but few realized it.
Hey, people, John told you what he wants to hear!
And, as any good marketer does, give John what he wants!
🙂
Ps. John, It would be quite “embarrassing” if I didn’t get it right in my post, if you know what I mean…
I would have to say your mindset. Your way of thinking hasn’t made you successful yet so it would have to mean that your way of thinking about success needs to be further learned and developed. I know it changed my business:)
The NUMBER ONE PROBLEM faced by entrepreneurs is not clearly answering the question “What business am I in?” in a way that creates a stand-above-the-crowd, elegantly simple, highly actionable Unique Selling Proposition and then building the business around that USP with an unrelenting laser-like focus.
John,
While I’ve heard of your mystical and magical ways for years, this is the first time I’ve ventured over to your digital front door, as it were.
As an entrepreneur, I know I have many fears, even when I don’t want to admit it –but this post isn’t about me — it’s about the biggest fear you’ve seen with your clients. So that sent me on a little tour through your blog, and I believe the answer is the ‘Great Unknown Future’.
The unknowing of all the things we have no control over, and overcoming that to reach deep within ourselves and leap, even though we can’t see the net.
Not knowing that a drop in the housing market can mean disposable spending drying up, which leads to sales dropping, which leads to … oh wait this wasn’t about me, was it?
Thanks for the quiz and the chance to get to know you a little more, digitally.
Welcome to the monkey house, Goddess. Good to have you here.
Not the answer I’m looking for, though a nice turn of phrase there with “Great Unknown Future”. Part of the cognitive dissonance of being human, when our neo-cortex freaks out over the ability to envision, but not always direct the future. Ah, the consequences of expanding consciousness…
Hey John – Really hard to say what the number one problem is. Kinda depends on where the entrepreneur is in his journey. Somebody starting out may have fear of success – what if what I’m doing actually works?
Two fairly big problems for entrepreneurs are:
1. Inability to control money effectively. No matter how much they make, they seem to handle their money poorly.
2. Inability to set up systems that run the business in place of the entrepreneur. Entrepreneurs have the “nobody does it better” syndrome and often hesitate to delegate. I know of a multimillion dollar business that is suffering right now because the owner never effectively replaced himself.
By the way, I’m reading your book right now on my Kindle. I’m really enjoying it. Thanks for taking the time to write it. 🙂
Ryan
Hey, thanks for the kudo’s on the book, Ryan.
Good insight to the entrepreneurial mind, too, as always. You’ve come oh-so-close to the answer…
Themselves
Here I go again…
I’ve got three for you (is that allowed?). Anyways…
1. Not understanding human nature
2. Arrogance (that blinds us)
3. Decisiveness
How about that?
p.s. John, what’s your best substitute for using emoticons? When you really, really want to emphasize your laughing or smiling and when the reader doesn’t know “your voice”.
p.p.s. This quiz is fun!
I guess I should have wrote being indecisive… (instead of decisive)
For me it’s boredom…
Which I guess is a twisted form of selfishness.
Sorry for hogging up the content space. It’s a nice conversation. Not much people around were I live that I can talk about these kind of things. So, thanks John! Nice little brain exercise. Ha. That’s another answer… Letting your brain go into mode.
They spend too much time working and not enough time living. They don’t get away from “it”(work) enough because they’re trying so hard, too hard, to be successful and they’re not enjoying life anymore.
In essence, they become the business. Without them, nothing works right. And even sometimes with them, nothing works right. Kinda like staring at a computer screen too long. After awhile everything gets hazy and you can’t even see what you’re supposed to do.
Alright here is my second try.
I remember you talking about this on various occasions. I think a major problem with entrepreneurs – especially ones who are just starting out – is trying to go at it all alone.
Trying to be the Jack of all trades because of a misguided belief that no one else can do it as perfect as them – after all it’s their business.
“Why should I trust anyone else? What if they don’t do a good job?”
This often leads to overwhelm and an inability to focus on things that are important. If you are responsible for bringing in the moolah in your business – that’s all you should be focusing on. Everything else is secondary. Period.
Jay
Hi John,
Greetings from down under. Love your work John. I think it is getting out of your own bloody way.
Cheers
Terry
What is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success?
Let’s end this madness…
Stop going so deep,
We all know the Core #1 Problem that’s causing businesses
of all sizes to struggle,never hit their mark,or even perish is… drum roll please- their FAILURE to reach out and get the right help they need in the first place-I mean does the average business owner even know who to call?
Sometimes the answer is so simple, we can’t see it.
Fun stuff.
OK, second try.
Have a year’s worth of money in the bank. Without that money, you feel you have to say yes to the craziest things. When you have saved your money, you have power to make the right decisions for your business.
I think it would be not having a mentor like you, when in need of advice.
Hi There,
The problem is.. Marketing..that is proper and adequate. targetted marketing.
Hi! John,
First Felicidades on your new book.
Now my answer is:to have an honest and expert coach and be
an humble student of him or her.
Blessings!
The biggest obstacle of a new entrepreneur, in my opinion, is not understanding the importance of testing. They will try something and when it doesn’t work, they’ll get discouraged and give up. If they keep trying different variations, different approaches, even different products, they will eventually “hit”. They have to find a product that they truly believe in and then they have to find a way to present that product so that other people will tap into the value of the product and then they have to figure the right price point so that when people find value in the product they will spend the money. Small variations will make huge differences so someone may fail numerous times before they get all the ingredients right. But once they get it, they’re on their way.
Nope. I love testing, and urge clients to do lots of it. However, I’ve known a small army of successful biz owners who refuse to test (mostly because they’re too lazy), and rely on their ability to find a hot funnel anyway. Dangerous, but it’s the way many humans work.
Hello John,
The #1 obstacle aspiring entrepreneurs tend to ‘encounter’ is themselves!!!
Their doubts from a lack of confidence and/or experience has them over-thinking many things and therefore complicating the simple!
The lack of a ‘swash-buckling’ attitude prevents people from taking meaningful steps with which they are unfamiliar! This of course results with little or nothing to show for their efforts!
I love that ‘old’ Nike slogan … Just Do It!
I know this seems like a long-winded answer but with all the words available for use, can you blame me:-)
Thanx John,
So I am expanding on my first try. My favorite piece of motivational literature goes, “Until one is committed there is hesitancy, the chance to draw back…always ineffectiveness. ” Of course, it goes on but the crux of the matter is COMMITMENT….beyond any hurdles one (I) may encounter. And I am so close to where I need to be…(but then of course, the target moves on)….LOL. So I would say, undying commitment. By the way, John, I will cherish your book. 🙂
Hi John, I am enjoying this quiz. Thank you!
Upon reading I realized that I need to change my thinking on this. There are so many subjects that I want to touch on. But upon re-ready the set-up and question I see that you may be out lining the problem itself.
Furthermore I have not seen any one mention this.
I think it’s the failure to plan. Properly put together a business plan. Review the past and re-plan based upon what we have learned.
Once launched business will take on a life of it’s own. The plan and updates to the plan provide a guide for the growth of your business.
When planing and reviewing you will more clearly see the whole picture, guide and adapt in the best way’s to further develop the business.(knowing when to bring in smarter people or hire consultants like yourself.)
Yes I think it is the failure to plan and review.
Hey, John – thanks for creating the awesome opportunity to see all these fine folks’ brains working on the problem. 🙂
I’d say the #1 problem is failing to set up a funnel – i.e., to have metrics for every step of their entire process. This, of course, requires being clear on what their entire process is…
My second guess would be lack of clarity about where they are in their journey to success, which would make them focus on the wrong set of goals.
John O’ invisible mentor ..
It is financial-Esteem or lack thereof.. #1
NOT asking enough for one’s services,
and not asking for the sale.
Geoff
currently at a volcano in NZ.
Hey, be careful on the volcano, Geoff. Don’t wanna become a human sacrifice to the gods.
Not the answer I’m after.
Alright – another kick at the can…
Q: What is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success?
A: Recognizing where and when a change is required and how to make that change.
When might be signaled by dropping sales, reduced revenues, increased returns…
Where might be in the area of relationships or behaviors or beliefs…
How might be getting hooked up with like-minded folks in a master-mind type group, hiring a coach or consultant, taking a long vacation…
Q: What is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success?
A: Lack of confidence in their ability to really be successful without all the “trappings” the “experts” keep telling them they need.
What Michael Gerber talked about in “The E-Myth Revisited” and Tim Ferris emphasized in the 4-Hour Work-Week. Designing the business so it will work without you, so you could turn it into a franchise if you wanted.
Having a process, even if it’s Halbert’s “research, list facts, list benefits, write in one stretch,” and then tweaking that process from iteration to iteration. Documenting what you do, so when the workload gets too high, you can hire someone and say — “read this PDF, and do what it says.”
Architecting your process so that, eventually, when you have enough business, you can progressively hire more and more people taking over a larger and larger swath of your business process. Until — poof! — one day they’re more or less doing it all for you while you blog away from the obligatory beachfront bar with cocktail in hand.
Or, more likely, you’ve fallen into the entrepreneurial addiction trap and gone and started a new business, beginning the cycle all over again.
Good answer, but not the one I’m looking for, Eric.
There are, as people are realizing here, a LOT of “good answers” that could fit this quiz’s answer. This part of the model you’re suggesting is in the Top 20 necessary things to put into action over the long-haul of running a top entrepreneurial biz.
I think you’ll see where it fits more precisely, when I reveal the answer I’m looking for here.
The number one problem faced by entrepreneurs is the ability to focus on the core of the business…ignoring all distractions. As your story of your first day in Gary Halbert’s office relates, distractions take care of themselves when you focus on what generates the cash.
Crikey, so we’re up to 243 answers…
I think I read up to 167. Time for my next crack at this nut…although it seems that Eric beat me to it.
I’d say that the number one problem for entrepreneurs is knowing how and when to step away from a successful business.
That requires outside help and a significant mindset shift. It also requires discipline to step away from doing what you know how to do so well (i.e. run your business)- even if the people you employ to take over the operations don’t do it as well as you would – so you can focus on building real wealth.
Clarity.
Seeing what needs to be done, pure and simple.
If I think back to what I needed when I had my first mentor, it was clarity that was *my* biggest problem. Once that clarity was achieved, I was able to adapt and move forward faster and further than I ever expected.
By the way, thanks for this really thought-provoking topic, John. Some of the comments it has thrown up have been fantastic.
Jody
Hey John,
I stand in awe of your course: “Kick Ass Copywriting Secrets of a Marketing rebel”; which I got a week ago – and devoured in 2 days.
It is Par None the BEST Biz advice I have EVER received. From creating sensational ads, learning the lost art of killer salesmanship and the discovery of the function of seduction … right down to operation Moneysuck – what amazing revalations!
I gave an answer above which spoke about “Operatiom Moneysuck” – here is the definition (note I am not changing my answer – merely giving more detail)
“Operation MoneySuck” in full gear:
Two Part Lesson
1) Money will solve problems that not having money creates
2) You’re the Guy who knows how to bring in the money
Don’t waste time doing something that doesn’t produce bucks. Every hour you put into your business will bring you major moolah back in.
Your No. 1 Job … Your No.2 Job … Your No.3 Job … Your ONLY JOB – IS TO BRING IN THE CASH.
So what to do with “pressing emergencies” which are NOT within Your Job description:
1) Deligate to someone else who can handle it or learn to handle it
2) Put it off
3) Ignore it
Hire a loyal Gal or Guy Friday who will treat your business as their own and to whom you can deligate tasks. Let that person hire everyone else and run the office and take care of everything else …
Thank you for your guidance; you are a true mentor.
Thanks for the note, Sean. That is one of the essential lessons of good biz-running, for sure. You can divide the really successful folks from the less-than-really-successful folks just by asking who’s hip to Op$uck.
However, not the answer I’m looking for here.
I realised how in the box I was with my first comment. Now I may be helping everyone here or I may just be the slow one.
But you are not actually looking for the number 1 problem that entrepreneurs are facing. You are looking for the number 1 problem that entrepreneurs who can afford to consult with you are facing. Which mean’s they are already successful in some way or another.
So we can rule out a bunch of starting problems there.
So my new guess would be-
Not thinking outside the box, being too stubborn or being afraid to change what may already be making them money in order to free up time or make themselves more money.
Smart insight, Luke. I’ve been hammering this point all along… though, not all of the consults I do are with “already successful” entrepreneurs, though some are. It’s a problem that transcends early success in a biz venture.
But no, it’s not about box thinking. Thanks for the note, though…
Alright, alright, after reading some of your responses, here’s what I’m thinking…
Most of us can’t see the forest for the trees. Because we’re so engrossed in the minute details, we often don’t step back and see the whole picture from start to end. We can get lost in a specific step and forget about the objective of that step in the grand scheme of things.
And by having this marketing myopia, we limit our ability to create massive gains. Again, this is classic 80/20 Pareto principle. Most focus on the 80% that only provide the 20% of results…when it really should be reversed.
Ok, thanks for another sleepless night John. As a side note, I see the powerful tactic of engaging your customers through participation (like this quiz). Awesome stuff.
John — I got it!
It’s the dire need to Create a KILLER MARKETING SYSTEM with high, very high conversion rate..
-then stepping back from it and delegating,
and letting it RUN on Autopilot!
Yesss
Noooo… I think I’ve said, before, that the problem I’m talking about affects even veteran marketers who have tasted success. The answer I’m looking for (and yes, this is a clue) has little to do with the details of the marketing plan put into action.
One more… not sure if it’s “the answer,” but I’ll give it a go anyway…
Being willing to spend money!
A willingness to SPEND seems to inspire the same willingness in your customers. Just ask (the ghost of) Guru Gary!
Hi John
For me it has always been fear of success and the responsibility that it brings
Fortunately I finally recognized this and since then I have started to make much better progress.
H
Second try..
The problem is that they haven’t built conditions to be able to really take advantage of the consultation.
They might be consumed with the day-to-day of the business.
They might not have a customer database.
They might not have figured out how to get themselves to perform.
Any of these might forestall them from acting on the advice they get, so the mistake is not having dealt with those beforehand.
I guess it could be called “not having your shit together”. 🙂
One of the biggest problems would have to be leverage, having the ability to leverage ones time, energy and/or money to get to the next level. It’s something I come up against regularly both personally and with my clients.
Is it the big one?
Hi John, I think the problem is not have a system or process to deal with problems. To look ahead at how messed up things can get, and plan for em’. I think getting focused on increasing the business and improving often takes the place of preparing for land mines.
A look into the possible future dark side and having your light saber all charged up and raring to go is something I don’t often consider.
Thanks for the quiz. I’ve learned a lot from everyone’s posts. Thank you John and everyone else. I hope you all have a great day.
Josh
Yeah, it’s great to see how people think in a thread like this, isn’t it.
Glad you’re getting something from the exercise. And learning how to solve problems quickly IS a great tool to have. But it’s not the main problem I see in my consults.
I think making sure that there is a market for what you would have to offer would be in at least the 1st top 10 requirements.
I watch too m any episodes of Shark Tank.
God Bless,
ELMO
Yeah, I’m watching Shark Tank, too… but I’m starting to think it’s jumping the shark already. Trump’s original “Apprentice” shows (the first two seasons) were a delight to biz owners… and then, because of ratings, they dumbed it down and went soft on the actual biz lessons being shared. It became a celebrity game, with Survivor overtones. Yawn. For the masses, great. For biz owners, a waste of time.
Shark Tank depends on the producers bringing in entrepreneurs with good stories. I’ve been shouting at the TV screen since the first episode, and I find myself nodding in agreement with Mr Wonderful and Mark Cuban most often. But the denser details of running a biz get lost in the search for “magic” on the show, and the cluelessness of the entrepreneurs (in most cases). It’s becoming a kind of biz lottery, where it’s unclear why some win and others are turned away… especially since the show refuses to follow up on any failures. They just show the happy results… which are often ONLY there because of the “Shark Tank Bump” a biz can get just by being on the show. Not sustainable. The show is sending a strange message out to the world, part of which I agree with, part of which leaves me cold.
Oh, and no, not the right answer, Elmo. But thanks for the note…
I have noticed that usually on Shark Tank the Sharks smell blood in the water under one circumstance that I think has the most consistency. If an entrepreneur comes into their presence with a proven track record of sales (especially accompanied by a fairly good profit margin), a favorable interest or share in the company, then they seem to jump all over it. I have seen really interesting items get passed up because the entrepreneur sold $10 million and made only $2,000. They especially hate seeing someone come in there with an item that has a business model that is easy to duplicate and has no track record of marketing or sales.
What is the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success?
Not knowing your “Why”.
Feeling isolated with no one to trust!
I haven’t done much with advertising because of that problem. I don’t know if I can trust it will work and I don’t have a lot of money to fool around with. There’s so many tools out there available to marketers (free & paid) and it’s incredibly hard to know what to use, let alone what to buy. Get rich quick scams done by people who are just trying to get rich themselves and don’t care about everyone else.
The internet has made it even more difficult because anyone with an internet connection can put their opinion online and fool the world into thinking they know what they are talking about.
How many emails do you get from relatives or friends about some little thing that most people do that might be killing you or that will change your life? We are bombarded with messages like these every day.
That’s most of the reason why I don’t watch any news. It’s starts with the body count of the day and is just full of negativity.
I like to stay positive (and frosty!) and keep that attitude about everything I do. It’s difficult though with the majority of people trying to crush your dreams!
It is a fact that every successful person was told they could not do what made them successful by someone and probably a lot of people including their closest relatives and friends.
Thanks John for all you do. I really enjoy your blog and your attitude about life and business.
I think most Entrepreneurs are not dependent to the money coming from their own business, in other words, they have a safe net to live on. If their business would fail, they don’t assume it would leave them in total poverty left to die.
Personally, I do a job better when my life is dependent on it, otherwise I don’t put enough work to it.
Not having enough pain means lack of motivation!
John,
The problem they experience is the inability to step away from their Creation. Being a high selling, high converting, Marketing System. They are a God-like creator. No need to get attached. They fail to delegate and create human, yet monitored, SYSTEMS which can operate as self-fueled, self motivated thingy entities.
Get out of your HEAD! You deserve the elusive success only if you get in the HABIT of test it, try it, prove it and repeat what works! So the entrepreneur is not constantly adapting his established systems to what’s working now — as tested, tried and proven now.
They think they can go it alone, not getting long term pro help.
The number one problem that all entrepreneurs face is procrastination brought on by the sudden onset lack of focus from not staying with their first great idea until reaching success. That’s it. If you can devise a way to control this then many more people would find success in the quiet hours of the night.
Biggest problem: not knowing where to even begin. This is like eating an elephant and not realizing it’s one bite at a time. But do you start with the ass and work your way to the trunk, vice-versa, or start somewhere else?
The biggest problem faced by entrepreneurs: REJECTION!
That somehow their product won’t work for people… and that people will claim they were taken advantage of.
Fear of criticism
If you would discover the NUMBER ONE PROBLEM faced by entrepreneurs in their quest for success the consequence would be that from the moment you disclose it many entrepreneurs are destined to become successful … BUT that will not happen as it never happened before … because such a big Kahuma of entrepreneurial obstacles simply does not exist as one single problem.
So although you will call SOMETHING as such a biggest problem actually it will not be one single problem but one of a crucial complex issues hidden behind the simplified naming of it, otherwise you would create a world entrepreneurial revolution.
Therefore, allow me to grasp it from a different angle. Nothing in human life is changeable by a magic wand. Having in mind the worse and worse reality of our world of business (when side by other bigger problems all standard manipulative techniques for selling are losing their potential with every day and people do have less and less money), the number one problem faced by entrepreneurs in their quest for success is the reality that they do not REALLY consider IN and THROUGH their entrepreneurship the improvement of the BIG PICTURE of the future having in mind mostly small pictures of today. Entrepreneurs do not understand yet that the CREATIVE, POSITIVE and GOOD-HEARTED contribution to the big picture will be soon very profitable issue. And the big picture is enclosed in all small things!
Okay I am on guess number 3 now and becoming slightly obsessed with winning this quiz.
Anyway I think the number 1 problem could be matching you message to your audience.
Either going to broad, to narrow or not really having a full understanding of what your customers want.
Hi John,
Greetings from the UK.
My thoughts are that the the biggest problem you’re seeing in your consults is probably ‘lack of focus’. The discipline to do one thing at a time to its conclusion before going over to the next.
Hullo back. Actually, I’ve had some very successful clients were long-suffering victims of the worse cases of ADHD I’ve ever witnessed. Focus is necessary to succeed, yes, but follow-through can be delegated out.
Good thinking, though.
Inability to scale fast enough or deal with success when it comes a’knocking. Speaking from experience, too… this problem nearly killed one friend’s business and entirely capsized another’s.
We all obssess about success, but what happens when it happens… your marketing works just a little better than expected… and that starving crowd has packed the streets for two city blocks around your little shop?
You better be ready to deliver. (Or you risk ending up like Gary Halbert… in Boron.)
And… you better be ready to recognize the methods you’ve been using may not get the job done. “Not invented here” syndrome can be deadly when you have to scale in a hurry.
Even worse is holding on to the mindset of a onesy-twosy custom watchmaker when you should be thinking like a factory.
Come to think of it… The inability to ask for help, a blindness to external solutions that would solve the problem, and the unwillingness to implement advice you’ve gotten — can all be deadly too.
I don’t know if it’s “the” problem, but as a consultant you must get pretty frustrated when you give someone advice and they just keep doing what they did. “Doing the same thing and expecting different results… or being forced to watch someone else do just that” might be a better definition of insanity!
(While we’re on the subject of success, what about dealing with Seth Godin’s “dip”…? Can you scale down when times are bad, and push through? Or will your overhead kill you?)
Oh, and one more thought. As one successful consultant put it… “Pioneers usually get eaten by wild animals. I am guy that comes in afterwards and buys what they found from their widows.”
Much better to find a known good path instead of inventing everything from scratch.
To answer this question, I’m gong to use my personal life experiences, and the calling in life I never answered-being a forensic scientist.
So, If the entrepreneurs come seeking your advice, they have a degree of angst about some portion of their business. You listed a few in your blog: solving problems, finding happiness, managing wealth, or the lack there of. I’m now putting this information into my nation data bank.(my brain) My screen just went totally blank, dam why is this thing freezing up on me-ahhhh- The number one problem faced by entrepreneurs in their quest for success is THEMSELVES.
Okay John, based on the correct answer in 2009, I’ll venture to say the #1 Problem facing Entrepreneurs is recognizing the ship is bearing down on an iceberg and getting one or more expert officers or sailors on board to get ‘er turned away into clear waters before it’s too late.
The #1 problem is getting customers. Many entrepreneurs put their startup efforts into creating the product or determining how they will provide their service when instead they should be determining how they will attract customers.
John !
IS the answer ….
A starving crowd A.k.A. A need ?
Hungry people that need food.
Crack fiends that need to their fix.
Sheep that need to be lead ?
HEHEHEH I must have it !
Hi John,
Your question reminds me of the same question Gary Halbert once asked his students: ‘What must you have to set up a successful Hamburger Store?’
His answer and hence my answer to your question is: ‘Find a Hungry Crowd’.
To be successful in any Business as an entrepreneur we need to supply what the customer wants.
Warm Regards buddy,
Johng
While it’s a valid target in any business’s plan, this is not the main problem I see in my consulting clients.
I’m glad to see so many folks giving this quiz a try, but devote part of your thinking to framing the question correctly to your brain (so you don’t wander off on tangents).
Consider what kind of person might consult with me. Pay some semi-hefty bucks, have specific goals in mind… and yet may not see the main problem holding them back. I mentioned that both rookie and veteran biz owners suffer from this problem… which means at least some of them have already tasted some success.
In other words, the answer is a bit further down the line, after the fundamentals like this have been covered.
Thanks for the note, John.
The stories we tell ourselves …
Hi John (Again)
Other than Perfection I think the biggest thing is that people care to much about what others will think in a search to try and please everyone.
Best,
Robert
Any business has a number of options on how to go forward – which strategy to follow, which decisions to make, which actions to follow.
Sometimes as business owners we get too close to the detail and get bogged down by the pros and cons of each option – paralysis by analysis if you like.
What can really help is an experienced independent pair of eyes which can take a look at our business landscape and the potential options and say – “that’s the thing you need to do”.
For the advisor the decision is obvious, they can see the bigger picture and simplify the situation, for the business owner it can be really hard to get this clarity.
John,
Its the resistance in accepting recommendations/guidance from the grizzly veteran and failure to follow up on the ACTION PLAN. (i.e Hot Seats)
Information is garbage unless it is put into action. (fails to understand the fundamentals of salesmanship)
You can learn about everything, have the right initial mindset and burning desire…but unless you follow up with the established ACTION PLAN and close that damn sales, nothing is happening.
Best,
Faliq
This is a good answer, certainly in the Top Ten of obstacles I see in consultations.
But not the big one. Close, though…
Hey John,
Gonna have a second attempt at this little conundrum.
Don’t think I’ve ever engaged with a blog post as much. I suppose that’s what happens when you ask a damn good question, see loads of damn good answers to that question and offer a damn good prize to up the stakes, but anyway, I digress…
My (second) answer would be that a lot of entrepreneurs have trouble detaching themselves from their work and finding that crucial balance we all need to enjoy life and live it to its fullest. Most entrepreneurs become entrepreneurs because they want to work and live on their own terms, freed from the corporate shackles, and whilst most start of this way, a lot (almost inevitably) find that they have accidentally built themselves nothing more than just another job, and not the lifestyle and business they so badly want (or need even).
Am I getting close?
James
What you’ve outlined is a VERY important element of a well-managed life for an entrepreneur. It’s not, however, precisely what I’m looking for here.
And yes, you’re getting close, along with a few dozen of other posters.
Me, I’m just happy to see so many folks diving in and doing some deep critical thinking here. Even for veteran biz owners, the brain get flabby and lazy… and you can see how doing detective work and some hard thinking just fires up the old gray matter like crazy.
Just doing my job, helping entrepreneurs be better thinkers…
TIME!
I’ve seen this answer in a couple of different forms, but I’d say the answer is RESISTANCE.
Resistance in all it’s forms…outside forces – internal demons – your god – the devil – your lover – and on and on until the break of dawn.
Resistance is everywhere.
Hell, I just went for a bike ride yesterday and the freakin wind was blowing me almost to a stop.
But, I kept pedaling, and next thing you know, I was turned around and heading home and the wind (that used to be my resistance) was making it an easy ride home now.
But, I didn’t take shortcuts, make excuses or cry in water bottle…I just kept pedaling against the resistance.
John,
I’m back again to take another stab at this. Is it short-sighted thinking? That is, the desire to make money right now, instead of planning for what is coming?
I read an article that said the most profitable companies go through staggered growth. They explained it like driving; there are stops, slow downs and green lights – but you’re always heading in a direction. If you blow through the lights, you’ll crash.
The thing is… we know what’s coming. We live our lives on a calendar. Things exist like holidays, birthdays, celebrations and so on. Did you know that the Greeks would have two major festivals each year? They took place before and after Winter. The pre-Winter party was to get one last celebration in for the people that would inevitably starve and die. The post-Winter party was a celebration for the people that survived. In this case, entrepreneurs of the Greek era would then have two major events to plan for…
So the issue entrepreneurs face is connecting what they do to real life events. This answer is a stretch, but I think it’s important to share even if it’s not “it”. People yearn for ‘right-now’ information. Think about how people like using Facebook and Twitter for instant connection gratification. If you can connect what you do to what people do, you’ll overcome a huge problem: thinking about right now instead of tomorrow.
Raymond
Casual Longshoreman
Relying on assumptions that don’t work anymore, if they ever did.
“Of course this is the best way to do this.”
“But it’s always worked this way, and it always will!”
“Look, if we do that, people are gonna think…”
“There’s no way changing the headline is going to double sales.”
“I know this market. We’re already reaching 90% of the people who are going to buy our product. There just isn’t that much room to grow…”
“They’re offering it for free! There’s no way we can compete, we’re screwed.”
“This is the only way that works for us.”
Not feeding their copywriter’s vices well enough.
A general disconnect between what’s in their head, and what’s actually true. The state of needing a reality check.
Close cousin to this is entrepreneurial tunnel vision. Tunnel vision being the opposite of what Jay Abraham got by exposing himself to the legendary 400+ different busineseses and industries.
Or call it “can only see what’s in this valley” syndrome. What you get from farming the same land in the same valley for decades. You need someone from the outside world to point out there’s all this great stuff just one hill over.
not knowing how to handle success
Many of the things that may stymie your clients have been noted here and you have acknowledged their validity.
My guess is that many of those problems (fear, procrastination, shiny object syndrome, time management problems, and many others) suggested here disguise an elemental flaw: a lack of self-knowledge.
If you don’t know who you are and what you want, all the things listed above, (and more, depending on our own character and personality)) will prevent serious problem-identification and problem-solving in many aspects of business including marketing, product creation, writing, etc.
It will influence even which business you want to enter (perhaps for the wrong reasons). This could easily affect successful business people and newcomers.
Until you know yourself,, the more superficial (not to say unimportant) things will throw you.
Well John, you have certainly stumped all of us and I am sure everyone is anxiously awaiting for what is the “Big Kahuna” problem.
I did some research and came up with some things you have shared which I thought they were worth sharing here.
A quotation:
“The Number One asset they have… is a set of cojones. Not the physical ones, you moron, but the ones that define your ATTITUDE. (Some of the toughest, most ‘onery and successful biz owners I know are women, who proudly agree they’ve got the required cojones.)”
A video:
http://www.youtube.com/watch?v=mxoaHIA7ixE
(not sure if you allow embedding on here, but just in case)
A blog post:
Just the link, otherwise this would be a long post.
http://www.john-carlton.com/2013/01/the-rest-of-your-freakin-life-again/
My guess:
1. We as entrepreneurs don’t know what we want. We may have a general idea, but do we know every detail? Have we clearly defined our desired outcome? When do we want to accomplish it?
Thank you for posting the quiz,
Darrell
Very, very close. And great job on the detective work, Darrell. This is why these quizzes are so cool when taken seriously — once your brain gets after a solution, if you have experience at detective work, it’s both fun and enlightening.
Also, everyone should have noticed, by now, that I’m not necessarily commenting on the ones who got the right answer. It’s safe to say the first prize has already been snagged…
… but that’s why I dangled a second prize, for the best-written response. There are multiple candidates for that prize, but the quiz has a few days left to run…
The number one problem faced by business people and wannabes is this. At least in my stupid little brain.
People can’t talk to others. That’s it. Nothing to do with writing copy,adwords or getting media.
If you don’t talk to people you won’t bloody well succeed.
Something either Rookie or Business Veteran would
love to feel is a “Sense of Purpose”
that gives meaning to what you do day in and day out-
after all, entrepreneurs are seekers on a quest for…
Money alone,we know better.
A sense of purpose could be the intangible that drives
you and your entire business- I know it does for mine.
Just look at any Great business person or any great person
ALL driven by a personal mission to make meaning out of
the time we spend in our lives.
Exactly how to create it and stay on course I would think
would be a nice creative job for the consultant.
The biggest issue entrepreneurs face is not going deep enough in to the underbelly of the relentless torment their clients are facing. All of our work/marketing will miss the mark and be wasted time and effort if we do not explicitly know and define the clients pain points (and use them)to show them a way out of the muck and mire of the ever growing noisy market place.
Sherrie
Based on the clue hidden right in your text
Regarding the block in a success-seeker’s quest,
The number-one issue is not one of fear,
Nor of static inaction or no goals for the year.
The main “Big Kahuna” is not a lack of great passion
Or watching the trends for the latest big fashions;
The number one problem that lies at the center
Is a failure to find and connect with a mentor.
If you contact an expert who’s been there before
They can walk you through problems and show you much more.
The biggest and baddest of walls to your dream
Is not so forbidding as now it must seem.
If you haven’t enjoyed a good round of consulting
Be shocked and amazed and the riches resulting!
~Lily Ann Fouts
*at the riches resulting! (Pardon the typo.)
Ah, a poet. (Or is it poetess?)
Nice, even with the typo. However, strictly speaking, not everyone can benefit from a mentor relationship. Some entrepreneurs are just too weird, and need space to process what they learn about marketing. Still, can’t say you’re not close…
The number one problem is a number one mentality.
Hi John,
Some fantastic insights and responses so far.
Is it the lack of a Plan B, for when things do go wrong?
ie. no disaster mitigation plans.
No, but good guess, Ben.
And maybe also have an outsider’s (consultant / expert) view of the business, as people who are not on the inside can see the flaws better?
Another thing I can think of is the lack of a definite vision on what the exact outcome of their business is.
I’d say the number one number one problem faced by entrepreneurs in their quest for success is the failure to get help from those who know the way.
Instead of seeking out someone who they can work with, someone with the insight and experience to help them past their obstacles, they continue to struggle.
(Number two might be not proofreading)
Lack of Focus, clarity, commitment and procrastination
Wow, lots of great answers in here.
I bought the ebook as soon as it was available and love it. Of course, I’d still like a signed physical copy, so here goes my best guess, without the benefit of consuming caffeine first, so this could be really ugly 🙂
The biggest problem I’ve personally seen rookie entrepreneurs and veterans have is this: They have no plan for keeping the business running when they aren’t there.
Sure, they might delegate things here and there and outsource some stuff but if they get hit by car tomorrow and are in a coma, there’s nothing in place for someone to take over the reigns and run things so that the business doesn’t come to a screeching halt or collapse because no one has the authority to sign the checks to keep things going.
There’s plenty of side effects of this problem:
Not being able to enjoy your success because you don’t trust anyone to run it for you. Your family despises your business because it keeps you away from them. Yeah, they love the money but they want more time with you, not the stuff the money buys.
You’re too involved and stifle any good ideas your staff might bring to the table. You don’t explore new markets and grab new customers because you’re too wrapped up in thinking you’re the only one who really knows and understands. You’re the idea person setting the course but should anything happen to you, guess what?
Probably not the biggest problem you’ve seen, John, but that’s my best guess.
My shortest guess was; not following through on the advice you gave them. But I thought you discounted that earlier when you said “not taking action” wasn’t the # 1 thing.
My worst guess is: Not having a good tax attorney.
Man, I think I need that caffeine now….
Michael
Hey, Michael — yes, this is a big problem, and worth paying close attention to. It’s one of the secrets of creating a biz that is both profitable, and runs on autopilot so you can have more free time.
However, not the Big Kahuna.
You’re right, too, about just reading this thread being a great exercise for the noggin…
This isn’t really an answer, just something useful that relates to Darrel’s observations (and your goal-setting post).
A while back a friend of mine taught me a neat system for engineering goals and success. It goes like this:
Figure out what the end result should do for you. (the benefits)
Work out what features will be needed to realize those benefits.
Now figure out what real-world stuff needs to happen to make those features into reality.
Then, design a process for making it all happen.
It’s like copywriting, but in reverse. Come to think of it, I could probably make this into a product… eh, what the hell. Have it for free.
— DanSharp
Nice! Good tactic.
In fact, it’s often how copywriters create their own products (or products for clients who, say, need a back-end) — you write out the best possible ad, including specific bullets… and then go create the product that fulfills the promise of the ad.
It works.
Thanks. And, screw you for keeping me awake last night. See below.
AUTHENTIC thinking, expressing and acting
= having courage to place Own Valuable Knowledge and Experience
OK – here’s my “take two.”
Since I’m re-reading “Psycho Cybernetics,” I know that an area I continually work on is developing my “mental movie.” I need to be more consistent with this type of activity…
I have several real life experiences where I developed that “start with the clear vision of the end result in mind” of what I wanted to achieve – and when I visualized that mental movie daily, saw myself achieving exactly what I wanted, and believed it was possible…it came true.
I’d say it almost scared me when it “played out” exactly how I envisioned…
I think the first couple times I really dedicated the time to doing this type of exercise daily – that little demon voice in my head was saying “I’m going to prove this doesn’t work!”
But then each goal played out in real life almost exactly as I had imagined.
Needless to say, I got a little shaken when it did – amazing how powerful we really are…
Here’s my guess:
Not being able to sell… lack of salesmanship… cant sell their way out of a paper bag.
Giving up instead of knocking down every damn obstacle that pops up to block them from getting to where they want to go.
Procrastination.
And just to clarify my previously poorly written post.
Someone who is struggling with their business should find an expert to help them find the solution to their problems.
If you had a medical condition that was causing your health to suffer, you would find a qualified professional, with years of experience to consult with. So too should someone in business.
Instead of wasting effort trying to heal their business’ with “alternative therapies” or untested methods, or “tough it out” by working harder, entrepreneurs fail to find the expert, the “Big Kahuna”, to help them through consultation or, if they are compatible, mentoring.
Hey John,
I’m gonna take two shots at it:
Guess 1: They try to make it as a one-man band, they have no entrepreneurial peers, no mentor(s), no staff, …
They don’t have people that will tell them the TRUTH and give them honest feedback to point out what they missed, to tell them what they don’t realize they don’t know, …
Guess 2: They go away from the fundamentals. They don’t do the simple things first.
what is the number one problem faced by entrepreneurs in their quest for success?
It’s not the lack of information that entrepreneurs are challenged with in the age of the internet, but rather it’s the difficulty to collect, interpret, organize and specifically apply this data to whatever it is that they’re working on.
John, I think the first nail in the coffin is mediocrity. Trying to be the same as others rather than finding one’s own unique voice and personality or one’s own unique selling proposition.
The second nail in the coffin is isolation. Not reaching out and collaborating or building a mastermind.
Procrastination
My answer would be: Purpose
Do I win?
No.
BTW: I bought your book “Kiss Ass” and I loved it!
Thanks, Eddie…
Ok, John, I’ll play: They allow stress to dictate how they live their lives and run their business. And they don’t really enjoy life because of it. Not sure if that’s what you’re looking for but that’s probably my favorite thing you’ve ever said.
And it’s an important piece of advice, too, Steve. I have a very personal relationship with Mr Stress, and he’s a ruthless bastard who will eat your career alive.
Very critical element of living well… but not the answer.
OK, I’d just finished some work yesterday and was trying to fall asleep, when some ideas started bubbling up. I grabbed a pencil and started writing. Here’s my decipherment of the resulting half-asleep scrawl…
If anyone so much as THINKS of using this, drop me an email so I can tell you where to send my 5%.
The Mind-Shattering Secret of an Underground Marketing Consultant from Cucamonga!
Dear friend,
When people say to “think outside the box,” ever feel like rolling your eyes at them… or worse?
Let’s face it, it’s easier said than done.
You’ve been running your business SUCCESSFULLY for a long time. Who is some dweeb to think he understands your problems — and that he can hand-wave them away with some pithy sayings?
On the other hand… what if there really was a way to pull out a magic wand… suddenly see the missing piece of the puzzle… and transform your business?
The man I#d like to introduce you to, has been banging his head against this problem for years… both as a business owner like you and later as a consultant.
Two years ago he slipped and fell in a porta-potty at a rock concert… and as his forehead struck the drain-pipe, he had a flash of inspiration.
This man took that vision and developed it into a system you can use, today, to:
– [You’re John Frikkin’ Carlton, write your own damn bullets]
The secret is simple. All business owners develop a kind of “tunnel vision.” And it’s a good thing! You need it — otherwise, the day-to-day stress and chaos would drive anybody certifiably insane.
But this “shell” that protects you also blocks your vision… keeping you from seeing the revolutionary solutions that would make your life a thousand times richer. And you, a thousand times richer.
It’s easy to spot this “shell,” even if it exists only in your mind. It’s the habits, the assumptions, the “mental rules of thumb” you use every day. Have you ever said to yourself —
– “This worked before, it’ll keep working”
– “Of course this is the best way to do this”
– “Everybody does it this way”
– “It’s the only way”
– “If I try that, people are gonna think…”
– “There’s no way the solution could be THAT easy”
– “I know this market, there just isn’t that much room to grow”
– “There’s no way we can compete, we’re screwed!”
– “This is the only way that works for us.”
If any of those sound familiar, then you’ve encountered the shell. The vital tool every entrepreneur uses to get through the day… but also the barrier that blocks their vision.
And it doesn’t have to be this way.
You CAN re-engineer your own thinking… easily… and it won’t hurt a bit. I promise! This is NOT like those tiring, draining self-improvement courses you’ve tried. This is SIMPLE and EASY.
All You Have To Do Is Read!
The words have been carefully chosen to burrow their way into your brain… take advantage of innate human psychology… and reveal new possibilities to you. Often while you sleep!
No more missing ad opportunities because you “knew” it couldn’t work.” (Only to have your competition get there first and make a killing.)
No more feeling like you’re “trapped” or “doomed”… with this, you’ll be finding ways out of the most impossible situations. And… turning them to your advantage!
But, don’t take my word for it. Listen to what our customers have to say —
“I’d been selling to one market for years, and thought I’d hit the limits to growth. Then I read this report… and realized a simple positioning change would give me TEN TIMES the sales!” — Joe Schmoe, A&M Publications
“My secretary laughed when I told her my new ideas… and my wife almost had kittens… but when the bank statements started coming in…!” –James Caples, Northern Music School
If you saw a farmer who’d discover vast, lush land to plow… if only he’d look over a little hill… would you point it out? Because that’s what this man sees in most businesses, just because they’re trapped in that entrepreneurs’ “shell.”
And he wants to help you BUST OUT.
He’s taught this system to people just like you and seen them make millions within days! And he could easily charge five figures for it, if he was a regular consultant dealing with gigantic corporations.
However… this man’s been there. He knows what it’s like to worry about making the rent. Therefore, to get this report, you pay just $xxx.
And, because I want you to be CERTAIN you’re getting far more than your money’s worth, I#ll throw in an hour’s consultation, one-on-one. You get a technique that’s helped hundreds of entrepreneurs… and made many of them into millionaires… plus personal coaching from one of the “marketing legends” of our time.
But wait, let me make it even better. This is a zero risk offer. You’ll have 120 days to review the report, and if for any reason you don’t like it… just click one button and you’ll get an automatic, instant, no-questions-asked refund!
So don’t delay. Click the button below. You’ll be asked for your credit card number, and within seconds you’ll be reading the report that may change everything you thought you knew about your business. (My assistant will follow up with you to schedule the consultation.)
Order now!
Sincerely,
DanSharp
that should be “life a thousand times easier.”
Reading all the answers that are so focused in the personal life of the entrepreneur(fear, life balance, passion…), I would say:
THE MARKET DOES NOT F*CH*NG CARE!
Like an actress that is drug dependent, alcoholic, sleeps all day and is totally dumb, but at the end of the day makes millions of people to fall in love with her just with a smile, including the president of the State, it fills all theaters and make all the money for the producers.
I know it is not fair, we have this deep sense of justice, that Walt Disney teaches us every single day of Beauty and the Beast that you know, we should chose for mating a genetically defect person because “is better in the inside”, while at the same time the Disney top folks chose top models for mating themselves.
In my opinion, the most important thing of all is Marketing 101: Understanding your customers needs, and be in the better position to solve them.
This means putting on your customers real skin, and is so creepy there. Understanding who they really are, not how they want people to think about them, or how is culturally accepted.
Most people universe rules around them. They believe that if the put enough hours, effort, lack of fear…they will get something from the universe, but the universe cares mostly about itself.
I meant genetically defective. Those films by the way make a lot of money telling people what they want to believe.
They try to manage every detail and every aspect of their business all by themselves. When they start to see problems, they try to tackle them all alone. They don’t connect with other people who can help them along the way on, on a regular basis.
I think that having a Vision on how you want things to pan out is important, but also being in a state of realistic positiveness.
It never fails to amuse me how some folks can have a different perspective on the things in life that either provide setbacks or opportunities in life.
Life is about challenge and how you adapt and face up to each hurdle or gaping chasm that drops at your feet will determine how you fair at the entrepreneurial game.
So as I write this with the “imaginary gun to my head” I would say that not just attitude, but the right attitude would be my number one choice.
Skill sets and task lists can be learnt or hired but your outlook is the thing that determines your destiny.
Is it doing less and for more?
OK, how about:
Multiplying?
Is that the answer you want?
The #1 problem faced by entrepreneurs in their quest for success is their internal limits on the amount of money they can earn.
Like you said it happened to you when you started making money, and then a year o so after you made less, because it did not fit your poor self-image.
I remember this one because it hit me the first time I read it. It was a story about your family.
No.1 problem
Entrepreneurs cannot answer and do not know “why do you buy from me?”
They do not know the problem they solve for their client, hence they are not seeking a ‘starving crowd’ !!!!
Thanks Gary. :))
Cheers!
Lawrence (down under)
The biggest problem the entrepreneur has, even when he does not know it, is that he is too close to the business to see the opportunities in it, he is too enthralled with the day to day routine to perceive the pots of gold he has at hand.
Even though I am late, I’m still going to throw it out there…. it’s the main thing that has stuck in my mind from all of your teachings…. business before pleasure.
I just read the answer and I can see that, for sure. One of my current issues.
However, shouldn’t you have done this giveaway about 2 months ago to help get more people to the event? 😉
You think these ideas arrive in my brain in some kind of orderly, rational manner?
Ha. The equation is “smarts + time = genius… and smarts – time = nice idea if we’d thought of it earlier”…
hen they start to see problems, they try to tackle them all alone.