TAS 075 The 3 Reasons Why Most People Fail In Business and Give up (#2 is HUGE)

Starting your own FBA private label business is hard work.

It can also be very discouraging work. Scott Voelker knows. He’s been at this long enough to know that there are opportunities every day to become discouraged and give up. But have you ever stopped to consider WHY people actually do give up? Scott believes there are 3 main reasons people give up, and he’s going to outline them and their solutions on this episode of The Amazing Seller podcast.

Before you even start an Amazon business, you need to get this one nailed down.

If you don’t, you’ll be quitting before you even hit your first real obstacle. What is it that’s so important? You have to know your “why.” That means you have to be crystal clear on why you are doing what you are doing. What is your motivation, the reason it’s so crucial that you succeed at your FBA business? If you don’t know, you’ll cave in the first time things get even the slightest bit hard. You’ve got to have that light at the end of the tunnel to keep you driving forward no matter what happens. If you take the time to clarify your “why”, you’ll be able to persevere through the hard times.

It’s important to plan, but don’t think too far ahead.

Why? Because when you start looking at what might lay ahead, you begin to focus too much on the “what if” scenarios, the things that could go wrong… What if my product doesn’t sell? What if I picked the wrong items to sell? What if I have to spend more on PPC than I thought I would? What if I run out of money? All these questions and thousands more can flood your mind when you start looking too far ahead, filling you with fear and prompting you to throw in the towel. But there’s a simple solution. What is it? You’ll have to listen to this episode of The Amazing Seller to find out!

How committed are you to your FBA business?

It’s a question that is about more than your “why” – it’s asking yourself “What am I willing to do in order to achieve my why?” You’ve got to be clear on the price you’re willing to pay in order to make your Amazon FBA goals a reality and stick to the tasks that will accomplish those goals, every single day. Think it through. Get your mind right so you can be ready when the hard times come. Commit yourself practically by creating a schedule for yourself that forces you into regular, systematic work that heads toward your goals. In the end, your commitment is only valid if you are putting the action behind it to make it reality. Find out how Scott does this in his own life in this episode of The Amazing Seller.

What will you do if you launch your product and it doesn’t sell very well?

You need to be ready for that possibility, because it could very well happen. Are you going to allow the less-than-hoped-for sales to discourage you into quitting? Though it feels like a very natural response, it’s the exact opposite of what you should do. A slow product launch is an opportunity for you to learn from your small successes, but even more so, learn from the lack of results. You’ll discover ways you can tweak your PPC, adjust our product title or description, or any number of things that can increase your sales over time. But you’ve got to stay committed to your business in order to make those gains happen. Find out how to keep a slow launch from derailing your momentum, in this episode of the podcast.

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • Welcome to the podcast, from Scott!
  • Scott’s introduction to the topic today and why it’s so important to understand.
  • You’re invited to check out the Amazing Seller shirt and give your input.
  • iTunes reviews from the past week!
  • The first thing about failing in business before we get to the main 3 reasons. You’ve got to have a “why” – a clear picture of why you are doing what they are doing.
  • The first reason people fail and quit: Thinking too far ahead; allowing fears of what could happen dictate what they will do.
  • The second reason people fail and give up: Lack of commitment.
  • The third reason people fail and stop: A slow product launch that discourages.
  • Solutions to these three problems
    • Problem 1: Chunk things down into smaller steps
    • Problem 2: Create a time schedule (deadlines) for yourself
    • Problem 3: Take small results and learn new actions you can take.
  • Recap of the 3 problems and their solutions.
  • How persistence and consistent action is the formula for success.

LINKS MENTIONED IN THIS EPISODE

The Amazing Seller Facebook Communityhttp://www.TheAmazingSeller.com/FB

Link to the Amazing Seller Shirtwww.TheAmazingSeller.com/shirt

The Amazing Seller Free Workshophttp://www.TheAmazingSeller.com/workshop

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8 comments
  • You know Scott, one thing I got from this podcast is that you have an amazing wife! Sounds like she was there to encourage you and push you along for both the photography business and the podcast. I just wanted to point out how lucky you are to have someone so supportive in your life! Fingers crossed that I can be as fortunate when the time comes for me to tie the knot. 🙂

  • You blow my mind! What perfect timing for this Podcast. I have been chasing the Amazon FBA dream since 1/1/2015. I have encountered all the what if’s you mentioned but with your help I continue to Push Forward. After seven months of trying I see some results. I have 3 imports and one PL which have tested my ability to push forward. I will save you the details but there were times after giving away over 200 items I was frustrated, self doubt, anger ready to quit…but PUSHED ON. Some may say its not much but I am finally seeing about 5 organic sales a day. Three months ago I would have declared victory but now claim I am starting the journey to success. I have listened to hundreds of Podcasts , You tube videos and you are by far the most transparent and informative. You are providing a real and important service. Thank you for all the help, YOU DA MAN!

  • That’s a good one Scott and coupled with episode 59 will inject realism into most folk’s reality seeing it as a get rich easy stuff. It should get them asking whether entrepreneurship is for themselves, if they have what it takes and help them decide whether they are those 2%
    And this is a perfect case for quote by Lao Tzu “He who knows others is wise; he who knows himself is enlightened.”

    I liked how you compared being committed to follow orders from boss versus committed following yourself and the key is a strong motivation. For most folks following orders from boss is a huge “Why” motivator because of pain associated of not doing it versus self-committment where folks might not have that pain. If they find themselves motivated under someone’s supervision then what do you think they need? They need to recreate that situation that keeps them motivated. How about hiring a thug to hold a gun to their head to keep them motivated? They may be surprised at what they can achieve. Now that’s a motivation!

    I think that having online business is the topic least talked about because everybody is interested in selling dreams to dreamers making it sound as they would want to hear it. The only hint they leave is statement that results are not typical and theirs will vary but of course it’s because they have to comply with FTC requirements.

    And that’s not only in business but in other things like weightloss that you mentioned in podcast which require committment from individual to go through discomfort to get results. No pain – no gain but sure that gain of fulfillment certainly feels great that you get to justify pain you went through.

    I remember it was in January this year that you announced your podcast in Facebook group and look how much you have acheived. It’s amazing how in less than 5 months you have managed to make 75 podcasts and build big following, all while buiding your business. This only shows that you are walking the walk and should motivate folks to heed your advice.

  • Thanks God I found you.You are the best thing ever happened to me. Every episode is worth lots of money to me. I have learned a lot more than a $4000 seminar. I give you 10 STARS for this FREE service you are providing.You are in my prayers. May God bless you.

  • Love the podcast today! Like your friend, I needed the kick in the pants. I’ve picked my product, sourced samples from two suppliers, but the “what ifs” you mentioned are always there and have caused me to move slower than I should. Keep it up Scott!

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