Financial Catastrophe for Entrepreneurs

 Why are so many entrepreneurs struggling financially even after having moments of success?



This is a killer.
You have success and you think you are free. Life is going to get easier, and then boom, you find yourself in the same roller coaster of not having enough funds to support your lifestyle.

Why does this happen?

I’ll tell you why.

It’s human nature when you reach a goal that you then relax.
You chill out and take your attention off growth.

You get comfortable because you think you deserve a break.  The hunger subsides for a minute and logic sets in.

You think you can afford to rest. 
The truth is, that’s when you MUST set your next goal.

Too many entrepreneurs take their foot off their plan and start on a new path or a different strategy and expect things to turn out as great as the last campaign. When they don’t, they are in a financial crunch.

Here’s a different way of putting this so that you really understand this entrepreneur pitfall.

You set a weight and fitness goal.
You are halfway to your goal, working out every week, and you are starting to feel good.

Life sets in and you get busy.  You think, no problem, I’ve been doing great.
I’ll get back to my plan, but for now you need to take care of other pressing issues.

Goal gone!  All that work to get halfway is gone, and here’s the deal.
You never really lose that calling in your heart to be GREAT!

It’s a destiny your soul wants to fulfill.
But you need to do the work, stay on it, and never give up.

This is what entrepreneurs are doing with their businesses and their lives.
They start to get traction and then they stop going to the gym of making money!

Look, my first year in business, I tried to do it alone and made $3,000 after all my expenses were paid.

The second year I got smart and hired a coach. I stayed with her one year and made $140k.

The third year I got a new coach and I’ve been with her three years.  Every year I think I don’t really need her the next year because I already know all this.  However, I’ve been trained well.  Don’t stop something that is WORKING!   Stay patient; the next growth idea I have will be a new opportunity for coaching. Stop needing something new to feel productive. Master what you are working on to access freedom.

Take a minute and realize what you are mastering right now in your business.

• Sales
• Lead generation
• Social media
• Copywriting
• Building your team

Each item above is a ONE-year strategy.  It doesn’t always feel like you are pulling ahead because some items are sexier than others to skill up on.

Manage your expectations and keep doing what is working.
Do not pull back unless you want to experience a financial roller coaster.

You’ve got to be smarter than your logical mind
to be successful.  You’ve got to keep going!

I hope this article helped.
My intention is for you to realize that you can have whatever you want.
Some years are big explosions, and others are maintenance.  But you must not stop going to the gym, if you know what I mean!

Good luck and leave a comment below. It’s the highlight of my day.

Author picture

Hi! I’m Shanda Sumpter, owner of HeartCore Business, investor to entrepreneurs on The Pitch, and named as one of Inc. 5000’s fastest growing companies in 2017, 2018, and 2019. I’ve helped business owners all over the nation grow and scale their businesses while enjoying their lives more. I believe in giving generously and being honest—all in the name of leaving a legacy.

Connect with me on Instagram

Share this post