Why do most entrepreneurs struggle with money?

You are currently viewing Why do most entrepreneurs struggle with money?

To answer that question we need to be clear about what money means today. Let’s take a few of the remarks I get when asking the question to entrepreneurs “What is money to you?”

  • Security
  • Problem solver
  • Power
  • A must-have
  • A stabilizer
  • A motivator

I am sure you can think of a few more 🙂

All the points mentioned in the list could apply to anyone, not just entrepreneurs, but because entrepreneurs are often related to start-ups and risk-takers it puts more weight on it.

So what lets an entrepreneur stand out: The entrepreneur decides on the risk to take. He is responsible for his situation and cannot blame anyone else. He can only and has to rely on himself.

Of course, starting your own business requires much more than just getting another job. Besides doing what you are good at you also have to deal with all the other aspects of running a business.

This can be daunting and because money is one of the most common forms of measurement for success, money becomes the one thing we think about most.

Money is the most common form of measurement for success!

This is an important statement. Comparing it to the sports world, it comes near to the number of games you win or the gold medals in the Olympics. But if you are an athlete you have to work pretty hard before you will ever see a gold medal or win your first major game. All this without any form of compensation.

An athlete does it because he believes that he got it in him. He has a coach to help him refine his technique and to keep him motivated and on track. He trains every day to become better and better.

Of course, there is the risk that he might never make it to the Olympics, but that is a risk he is willing to take.

Today we are used to getting everything in an instant. We don’t want to wait for things to happen and we are hardly willing to put everything on the line for what we really want.

I don’t know any successful entrepreneur who didn’t work for many years before they had a breakthrough. Of course, all of them wanted to make good money like the athlete wants the gold medal, but they were willing to put the effort in, practice and learn from others every day to get there.

By doing so you are going to win some games. You will get better and better at it and you will climb up the measurement scale, whatever measurement (money, goals, games or medals) drives you.

Because of the effort, you have to put into it the results are so rewarding. It is an amazing feeling to have your first client, to build-up a team and to become recognized in your field.

But it is only so amazing because you worked so hard for it. It is only so amazing because you went through everything to make it happen and you are proud of yourself and what you have achieved.

This has nothing to do with money.

Money is the result of hard and incredible work!

You don’t get money and then work hard. What would you measure against?

To answer the question of why so many entrepreneurs struggle with money is simply because that is what they concentrating on!

Believing in yourself, working and learning hard and making it happen is the only real chance you have to make it big and as a result to create the income you seek.

Become an athlete in your field and give the best you can. As soon as you decide that your struggle with money is over!

What does money mean to you?

John Di Stefano

An entrepreneur at heart and founder of the Entrepreneur Academy in Brussels, Belgium. He is teaching and supporting entrepreneurs in the skills every entrepreneur needs to create a better life for themselves and the people around them.

Leave a Reply