Motivation

5 Famous Company Startups that Almost Failed (2024)

Published

6 months ago

June 13, 2024

Empowerment

Have you ever read the book ‘Think & Grow Rich’?

If you’re a regular visitor to Wealthy Gorilla, then you definitely should have read the book by now!

Think & Grow Rich was written by Napoleon Hill and is considered to be one of the best self-development books of all time.

The book teaches the 13 principles of turning your desires into riches and contains hundreds of golden nuggets you can use to transform your life…

The 30 Major Causes of Failure

Within one of the chapters of Think & Grow Rich, Napoleon Hill lists the 30 major causes of failure. These are the reasons why 99% of people are failing in their lives.

The purpose of featuring and explaining these ‘major causes of failure’ within this article is to show you why people fail and how you can avoid doing the same thing in your own life.

Here are the 30 major causes of failure as described by Napoleon Hill:

1. Unfavourable Hereditary Background

The reason why this was put first on the list was that Hill says it’s one of the toughest issues for people to overcome.

This basically means that someone is perhaps not naturally intelligent and lacks certain brainpower. They can take all the measures needed to improve their knowledge and become smarter, but they are still at a disadvantage.

2. Lack of a Well Defined Purpose in Life

If you don’t have a definitive goal that you’re setting out to achieve, a purpose that you’re trying to fill, you won’t become successful. You have nothing to hit, nothing to aim at. And therefore your direction is unidentified.

3. Lack of Ambition to Aim Above Mediocrity

There are many reasons why people might not have the ambition to aim above mediocrity. Whether it’s that they’re too lazy, too comfortable, too spoiled, or have no belief in “success”.

If you never have the ambition the aim higher, you never will aim higher than average. This means, you guessed it, you will never achieve more than average.

4. Insufficient Education

Another one of the major causes of failure is insufficient education. Don’t get this wrong. This does not solely mean a lack of formal education leading up to adulthood.

In many cases, and especially in various parts of the world, formal education is an issue. However, another big issue is that many individuals leave school and decide that they’ve done all the learning they needed to do.

When it comes to your career, specialized knowledge is a must, and it can only be learnt through experience on the job, and studying outside of working hours. Just turning up to work every day isn’t enough education.

5. Lack of Self-Discipline

Becoming successful isn’t easy. It takes a lot of discipline to consistently work hard at something until you finally start to achieve success from it.

There’s a lot of productive habits that need to be adopted in order to get the most out of your day, and therefore your week, month, and year.

6. Ill Health

Nobody can enjoy their success without good health, and in fact poor health can still hold you back from achieving it in the first place.

Here’s what causes ill health:

Lack of exercise

Over-eating junk foods

Poor daily habits

Over-indulgence in sex

7. Unfavourable Environmental Influences During Childhood

This essentially means that many people fail due to the environment they grew up in. Poor parenting, bad neighborhoods, born into poor families etc.

It’s not a death sentence, but more people than not let these circumstances dictate their future. Something can be done, no matter what.

8. Procrastination

Everybody has a dream, but when it comes to taking action, most procrastinate. They wait until they’re ‘ready’, or until the ‘perfect time’.

Time goes by, but they’ve gone nowhere. Truth is, that they’ll never be a perfect time to start working on your dreams. You have to stop procrastinating and create a sense of urgency within your life.

9. Lack of Persistence

You won’t get anywhere without persistence. And persistence can be tough when you’re not seeing immediate results from all the hard work you’re putting in.

The truth is. Persistence is the key to everything. Every successful individual has had their own failures during their lifetime, but persistence meant that they got back up, and didn’t have to remain a failure.

10. Negative Personality

You know those people that always seem to complain about things, but never change them? How about the people who always tell you that they can’t do something?

Thinking negatively will only ever bring you a negative life. This is one of the biggest causes of failure, and changing your mindset from negative to positive should be a very high priority.

11. Lack of Controlled Sexual Urge

Most people will deny that this one affects them, but it does. The sexual stimulus has the power to influence people into action more than any other type of energy.

This means you’re likely to be spending a lot of your time chasing this, becoming distracted, and losing sight of your goals.

12. Uncontrolled Desire for ‘Something for Nothing’

Ever come across people who want something for nothing?

They believe that they can try and get what they want without helping anyone else get what they want. And that’s a big mistake.

You see, you only start to get the things you want in life when you’re able to help other people. Every business that succeeds does so because it is helping enough people to be profitable.

13. Lack of a Well Defined Power of Decision

Napoleon talks about how good decision-makers are able to make quick decisions and then change them slowly, as opposed to the other way around. The ability to make quick decisions is incredibly important for success.

After all, if you’re unable to make decisions, then you’re not going to be able to build a business, that’s for sure. We make thousands of decisions every day, so this ability is key.