If you want to succeed as an entrepreneur, don't let your limiting beliefs stop you from achieving great things. And if you're ready to crush your goals, keep reading and learn from the experts. In this week's episode, Ursula Mentjes, together with her special guest, Ernie Silvers, talks about the reasons why small businesses fail and what you can do to succeed.
Part One of ‘Why Small Businesses Fail and What You Can Do to Succeed with Ernie Silvers’
Many small businesses fail because they're in it for the wrong reasons. They're not focused on growing the business and providing service. They don't know what they want to be when they grow up. They don't know what kind of job they want. So, they end up creating a job, not a company. Sometimes they see the business as an extension of their ATM. So, if you cannot separate your life from your company, you're going to fail. The company has to be a separate entity.
“Many small businesses fail because they're in it for the wrong reason.” — Ernie Silvers
Ernie is the MBA Programs Director at the Jack H. Brown College of Business and Public Administration at California State University, San Bernardino, CA (CSUSB). Ernie has been teaching undergraduate and graduate-level courses in the Entrepreneurship, Management, and Marketing departments since 2014.
Ernie regularly teaches Small Business Management, Organizational Behavior, Administrative Communications, Marketing Principles, as well as Leadership and Ethics. As a professional, Ernie has more than 30-years of diverse managerial experience in executive management, operations management, manufacturing, sales and marketing, human resources, and logistics. The bulk of his career has been spent in the automotive aftermarket, which is a 63-billion-dollar global industry.
Part Two of ‘Why Small Businesses Fail and What You Can Do to Succeed with Ernie Silvers’
If you're in business because you need money, that's the worst reason, because you only see people as a paycheck. You can't serve somebody whom you consider a thing and not a person. Money has to be a result of what you do, not the reason you do it. You want to help people. You want to provide a service. You want to bring value and money as a result of providing excellent value.
Do you know what it takes for a new entrepreneur to be successful? Focus, passion, and commitment. You have to be committed no matter what you're doing. You have to focus and you have to know what you're doing. It's like if you're driving a car, you have to look out the windshield. If you're looking out the side windows, you're going to crash your vehicle. You have to stay focused on what you're doing, and you have to do what you're passionate about. If you're not excited, why do it? If you can't have fun doing something, then why would you waste your time doing it?
“Money has to be a result of what you do, not the reason you do it.” — Ernie Silvers
Many people will try to put you down and tell you that you're not going to make it. Success is not a straight line. It's all over the place. You have to understand that there's going to be ups and downs. You will experience failures along the way before you become successful. You need to be around people who will encourage you to keep going.
You can either create your imposter syndrome, or you can let somebody else create it for you. Imposter syndrome can be defined as a collection of feelings of inadequacy that persist despite evident success. Sometimes you let other people's high expectations put pressure on you. As a result, you fear failure because you want to meet their unrealistic expectations of you.
Learn More About Ernie Silvers
Ernie is the President and CEO of Egge Machine Company, Inc. located in Santa Fe Springs, CA. Egge is a manufacturer and global distributor of internal engine components for vintage engine applications.
As an entrepreneur, Ernie is the driving force behind Silvers Connection, a growing consulting practice focused on connecting people and businesses with opportunities for growth and profitability through lean concepts, process improvement, education, and training. Silvers Connection specialized in leading mid-sized, small and family-owned businesses through the development and implementation of operating systems to maximize efficiency and sustain profitability.
Ernie is a U.S. Navy veteran who served six years as an aviation electrician on C-130A aircraft, stationed at NAS North Island, San Diego, CA.
Ernie earned a master’s degree in Business Administration from the University of Redlands, Redlands, CA. Ernie is also an active member of Toastmasters – Inland Empire chapter.
Connect with Ernie on LinkedIn www.linkedin.com/in/erniesilvers
How to Get Involved
Ursula Mentjes is the founder of Sales Coach Now, as well as a Sales Expert, Inspirational Speaker, Author and Certified Sales Coach who specializes in NLP to help her clients double and triple their sales. Sales Coach Now delivers a unique approach to sales training and coaching designed for ultimate retention and achievement.
Discover how to transform limiting beliefs, make powerful shifts with intention, and authentically serve (sell) your clients with my free pdf, "6 Secrets to Doubling Your Sales! www.salescoachnow.com/gift
Also, Ursula would love to partner with you at your next event, conference, or sales training session. If you're interested in coming to Sales Camp, that's her two-day live course then, you may find out more information here: https://www.salescoachnow.com/sales-camp/.
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