According to Bloomberg Business, 8 in every 10 entrepreneurs who start businesses fail within the first 18 months. Why do 80% of new businesses fall short of the success they work so hard to achieve?

At the surface level, the reason so many businesses fail is pretty straightforward – they run out of money. But, long before a business’s financial footing crumbles there are cracks in the foundation. Today, I’d like to explore some of the mistakes businesses entrepreneurs make that cause these detrimental cracks.

Mistake #1: Putting in a Below Par Effort.

To succeed in sales – and in your business in general – you need to put in the hours. In my decades of sales experience, I’ve learned that you need to set milestones and hit them consistently – day in and day out – to achieve the outcomes you seek. How many complimentary sales calls do you make every week? How many networking events are you attending? You can’t expect to achieve the results of full-time work without implementing effective systems and logging the necessary hours.

Mistake #2: Failure to Follow Up.

Whether you’re searching for some powerful press exposure or trying to close a sale, remember it’s not “one strike and you’re out”. Patience and persistence is critical to your success. Too many entrepreneurs fail due to a lack of proper follow-up. When a prospective customer doesn’t sign up for your program the first time you present it to them, pick up the phone and personally follow up! You’ll be amazing at what you can achieve with a healthy dose of perseverance.

Mistake #3: Jack of All Trades, Master of None.

You started an entrepreneurial venture because you’re passionate about the product or service you provide. But, as you well know, running a business requires you to delve into new areas you may have little to no expertise in. Newsflash: Even a highly driven and full committed business entrepreneur can’t do it all. That age old mantra “Jack of all trades, master of none” couldn’t ring truer than it does for an entrepreneur. To succeed, you need to become a master at assigning responsibilities to a team of experts so that you can spend the bulk of your time doing what you do best.

Of course, it’s natural for business entrepreneurs to make mistakes without guidance. Taking a business from its infancy and making it flourish can only be done by an entrepreneur with the right mindset, tools and – of course – a system with a proven track record for success. Want to “Double Plus” your income in your last business quarter? At Celeste Giordano Coaching, I work hand in hand with business entrepreneurs to ensure they have a road map that avoids the obstacles that cause so many businesses to fail before they take off. Failure does not have to be your business’s final destination.