Motivation

5 Motivational Factors that Drive People Towards Entrepreneurship (2024)

Published

3 months ago

June 19, 2024

Empowerment

Have you had the opportunity to read the book ‘Think & Grow Rich’?

If you are a frequent visitor to Wealthy Gorilla, then you must have already read this book!

Written by Napoleon Hill, Think & Grow Rich is widely regarded as one of the top self-development books of all time.

This book imparts the 13 principles for transforming your desires into wealth and is packed with invaluable insights that can help you change your life…

The 30 Major Causes of Failure

In one of the chapters of Think & Grow Rich, Napoleon Hill outlines the 30 major causes of failure, shedding light on why 99% of individuals are struggling in their lives.

The purpose of highlighting and elucidating these ‘major causes of failure’ in this post is to demonstrate why people fail and how you can steer clear of making similar mistakes in your own life.

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

1. Unfavourable Hereditary Background

This is listed first because Hill emphasizes that overcoming this challenge is particularly daunting for many people.

This essentially implies that some individuals may not be naturally gifted or lack certain mental capacities. They can make all the efforts to enhance their knowledge and become smarter, but they still face a disadvantage.

2. Lack of a Well Defined Purpose in Life

If you lack a clear goal that you are striving to achieve, a purpose that you are working towards, success will elude you. Without a target, without a direction, you will not attain success.

3. Lack of Ambition to Aim Above Mediocrity

There are various reasons why individuals may lack the ambition to aim higher than mediocrity. Whether it is due to laziness, comfort, privilege, or disbelief in “success”.

If you do not have the ambition to strive for higher goals, you will remain average. This implies that you will never accomplish more than what is average.

4. Insufficient Education

Another major cause of failure is inadequate education. It is crucial to understand that this does not solely refer to a lack of formal education during childhood.

In many scenarios, especially in certain regions, formal education is lacking. However, another significant issue is that many individuals complete their schooling and believe they have acquired all the necessary knowledge.

Specialized knowledge is imperative for your career and can only be attained through on-the-job experience and studying outside of work hours. Simply showing up for work daily is not sufficient education.

5. Lack of Self-Discipline

Achieving success is not easy. It demands a high level of discipline to consistently work hard until you start reaping the rewards of your efforts.

Adopting productive habits is essential to maximize your daily productivity, which subsequently impacts your weekly, monthly, and yearly achievements.

6. Ill Health

Good health is indispensable for enjoying and achieving success. Poor health can impede your progress towards success or prevent you from attaining it altogether.

The causes of ill health include:

Lack of exercise

Overindulgence in junk foods

Unhealthy daily routines

Excessive engagement in sexual activities

7. Unfavourable Environmental Influences During Childhood

Many individuals fail due to the adverse environments they grew up in. Poor parenting, unfavorable neighborhoods, being born into impoverished families, are some of the factors.

While these circumstances do not determine one’s fate, many individuals allow them to dictate their future. Regardless of the circumstances, there is always room for improvement.

8. Procrastination

Everyone has dreams, but most people procrastinate when it comes to taking action. They wait for the “right” moment or until they feel “ready”.

Time passes, but they remain stagnant. The truth is, there will never be a perfect time to pursue your dreams. It is essential to overcome procrastination and instill a sense of urgency in your life.

9. Lack of Persistence

Success is unattainable without persistence. It can be challenging to persevere when you do not see immediate results from your hard work.

Persistence is the key to success. Every successful individual has encountered failures, but their persistence allowed them to overcome setbacks and avoid a lifetime of failure.

10. Negative Personality

Individuals who constantly complain without taking action or believe that they are incapable of achieving something exhibit negative personalities.

Negative thinking leads to a negative life. Altering your mindset from negative to positive should be a top priority to avoid failure.

11. Lack of Controlled Sexual Urge

Many individuals deny being affected by this, but the truth is, the sexual drive can significantly influence actions more than any other energy.

Chasing after sexual desires can consume your time, distract you, and divert your focus from your goals.

12. Uncontrolled Desire for ‘Something for Nothing’

Have you encountered individuals who expect rewards without putting in any effort?

Believing that you can attain your desires without assisting others in achieving theirs is a significant mistake.

Success is achieved by helping others; every prosperous business thrives because it benefits enough individuals to be profitable.

13. Lack of a Well Defined Power of Decision

Hill emphasizes that adept decision-makers make prompt decisions and modify them gradually, rather than the other way around. The ability to make quick decisions is crucial for success.

Without the ability to make decisions, building a business becomes an arduous task. We make countless decisions daily, making this ability indispensable.

14. One or More of the Six Basic Fears

In Think & Grow Rich, Hill also identifies the six fundamental fears that all individuals face in life. These basic fears are:

Fear of poverty

Fear of criticism

Fear of ill health

Fear of loss of love

Fear of old age

Fear of death

One of these six basic fears may also contribute to failure. It is crucial to remember that death is inevitable, and thus, fear should not impede your pursuit of a fulfilling life.

15. Wrong Selection of a Mate in Marriage

Your marriage can impact your career significantly. A supportive and harmonious partnership can boost your career, while constant arguments can hinder your performance at work. Hence, choose your life partner wisely.

16. Over-Caution

Achieving great success often necessitates taking risks. Playing it safe can only take you so far. Risks are sometimes essential and may not always yield positive outcomes immediately, but in the long run, they pay off.

Individuals who are excessively cautious and fear venturing into the unknown often face failure.

17. Wrong Selection of Associates in Business

Your choice of business associates can be a substantial cause of failure. Partnering with individuals lacking the necessary qualities may lead to poor decisions that sabotage your hard work in business.

Thus, it is crucial to choose your associates wisely.

18. Superstition & Prejudice

Superstition often influences mindset adversely. For instance, individuals who doubt their achievements or the authenticity of opportunities may miss out on them.

Believing in superstitions can hinder progress and lead to missed opportunities.

19. Wrong Selection of a Vocation

Many individuals make the mistake of choosing the wrong profession. If a job is not something you are passionate about, something you cannot envision your life without, then it may not be the right fit for you.

Despite this, a large percentage of people dread Mondays due to their dislike for their jobs. They are only working for the paycheck. Why?

Find something you are passionate about.

20. Lack of Concentration of Effort

Do you know the average human attention span?

It is relatively short. This makes sustained concentration on a specific task challenging, especially if it is something you do not enjoy.

21. The Habit of Indiscriminate Spending

Do you frequently purchase unnecessary items?

How profitable has that new TV been for you? Likely zero. Consider investing in yourself rather than squandering money, as this is what distinguishes the wealthy from the impoverished.

22. Lack of Enthusiasm

Enthusiasm is crucial for achieving success in any endeavor. Without enthusiasm or genuine passion for your work, you will not have the drive to persevere.

Chasing money as a primary motivator will not lead to success. When passion is the driving force, you will persist in your efforts regardless of financial gains or setbacks.

Passion entails engaging in your work daily, regardless of your earnings or obstacles encountered.

23. Intolerance

Being open-minded is a fundamental trait for successful businessmen. Embracing new ideas, diverse perspectives, and different types of individuals is vital.

Intolerance towards others and their ideas can tarnish your reputation, particularly when the individuals you are intolerant of are your colleagues or business associates.

24. Intemperance

Similar to intolerance in many aspects, intemperance is a major cause of failure. If you are prone to anger, you may alienate people and hinder your productivity.

25. Inability to Cooperate With Others

Collaborating with others is inevitable, as every business revolves around people. Failure to cooperate with others will severely limit your progress.

Helping others achieve their goals is the key to achieving your own, and this is unattainable for those who refuse to collaborate.

26. Possession of Power Not Acquired Through Self-Effort

Individuals who acquire power without earning it themselves are destined to fail. They lack the essential habits, skills, experience, and knowledge required to wield this power effectively.

Such individuals cannot control or utilize power efficiently, nor can they be entrusted with it.

27. Intentional Dishonesty

Whether you deceive yourself or others, dishonesty will ultimately backfire. People will lose trust in you, making it challenging to collaborate or build relationships.

28. Egotism & Vanity

Ego often impedes individuals from expanding their knowledge or collaborating with others. Stubbornness or considering oneself superior to others can hinder progress and partnerships.

29. Guessing Instead of Thinking

Guesstimating instead of engaging in critical thinking is a recipe for failure. Starting arguments based on assumptions without conducting proper research is detrimental.

Avoid falling into this pattern of behavior.

30. Lack of Capital

Finally, the lack of capital ranks as the 30th major cause of failure. Money poses a challenge for many individuals with aspirations and ideas, particularly for establishing their desired business.

With a robust business plan, individuals can seek investors or start small with minimal costs if necessary.