More people are starting businesses than ever before. The fact is many of these entrepreneurial startups are guaranteed to fail since they were started for one of these 5 WRONG reasons:

Desperation

Desperate people do desperate things. With the unemployment rate being so low, former great employees are trying to become (marginal) entrepreneurs. Unfortunately, this does not work. Entrepreneurship is about fortitude and that is definitely not the same as being desperate.

Jobs Suck

It seems most people hate their job. And with so many people unemployed, the “lucky” folks who still have their career have to now perform the work of two or three people. These people are burning out, and believe the grass is greener as an entrepreneur. Little do they know they will now need to do the work of ten people.

Quick Money

Get rich quick schemes DO NOT WORK, yet many fall for the trap. The people who become entrepreneurs to make quick money get trounced by the other individuals who go into that same industry because it is their passion. The passionate entrepreneurs are far more persistent. And these are the ones who are ultimately (emphasis on time) successful.

It’s In The Genes

While an entrepreneur has certain innate qualities they are born with, it didn’t necessarily come from the prior generation. Just because Mom or Dad was an entrepreneur, doesn’t mean the child is going to be a good one… yet they think it’s destined. No entrepreneur should go into business, just because his or her parents did. And no aspiring entrepreneur should skip out on the opportunity because his or her parents did.

You Can’t Get Fired

This one get’s my blood boiling. I meet person after person that plans to start a company and glows in the fact that they can never get fired. I mean, after all, who in their right mind would fire themselves? Listen up, Buck-o! YOUR CUSTOMER CAN FIRE YOU. If you aren’t the best, your customer will leave (along with their money) to go elsewhere… a.k.a., You’re Fired!