Quitter Talk: 5 Things That Are Stopping You and Your Small Business

09/20/2017 09:13 am ET

By Abhi Golhar

Perseverance isn't always a good thing. There are some situations where quitting is entirely appropriate, especially when you're running a small business. Not everything needs to be a figurative fight to the death. Here are a few things that you should stop doing if you want to succeed:

  1. Procrastinating: Procrastination is the silent killer. Taking a few minutes out of your work day every now and then to take a look posts from your friends on social media seems harmless, but it could be costing you and your small business hours of productivity each week. Putting things off means delaying things that could be pushing your agenda. The sooner you stop procrastinating, the sooner you get important things done. I remember focusing on work for a little while and immediately getting distracted watching a YouTube video. This is a productivity killer -- be careful.
  2. Pretending to be Helpless: There will be times when you think you don't have a choice in the matter. This results in a scenario where you make yourself out as a victim of circumstance; someone who is helpless to do anything. That is never the case. Even when all the options are unfavorable, you still have the power to choose the least damaging one. Never give up your power to choose.
  3. Embracing Insanity: Doing the same thing repeatedly and expecting different results is often presented as an example of insanity, yet many small business owners insist that things will come out differently if they just try again. There's nothing wrong with persevering, but there is something troubling about expecting things to change without modifying your approach. If you find your plans falling apart, re-examine and modify them. It's OK to be wrong and make mistakes. It's part of running a business. This is an example of a difficult lesson I learned regarding my marketing efforts while running a computer-repair business in high school. I wanted my marketing methods to work so badly that I didn't change them even though they were ineffective. I wanted to prove I was right. This is not a success-driven mentality.
  4. Hoping Things Will Just Work Out: While it's good to think that things will eventually work out, it's far less admirable to think they will without any input on your part. Around the world, millions of entrepreneurs are pushing the boundaries of their respective industries, spending time and money to improve their offerings. Sitting around and expecting things to go your way will only lead to failure. Get up and get to work.
  5. Wallowing in Self-Doubt: Doubt can be useful. Doubt keeps you on your toes and reminds you that plans can fail, inspiring contingencies that will keep your small business safe. However, it's extremely easy to start wallowing in it. Instead of using it as a tool, it becomes a detriment, eating away at your confidence and crushing your productivity. Believe in yourself and you'll be surprised at what you can achieve.

Being a successful small business owner doesn't always mean adding things. Sometimes, you need to cut out what's slowing you down. Examine your life and figure out what's holding you back.

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Abhi Golhar is host of the daily radio show, Real Estate Deal Talk and managing partner of Summit & Crowne, a real estate investment firm.

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