The Mindset Mentor - 6 Reasons Why Your Business is Failing

Episode Date: July 8, 2021

We have consulted hundreds of business owners in many different industries - from real estate to finance to manufacturing to plastic surgery to sales - and these are the 6 reasons that we have found that destroy most businesses or business owners. To learn more about myself and Dean consulting your business email [e-mail]. Want to learn more about Mindset Mentor+? For nearly nine years, the Mindset Mentor Podcast has guided you through life's ups and downs. Now, you can dive even deeper with Mindset Mentor Plus. Turn every podcast lesson into real-world results with detailed worksheets, journaling prompts, and a supportive community of like-minded people. Enjoy monthly live Q&A sessions with me, and all this for less than a dollar a day. If you’re committed to real, lasting change, this is for you.Join here 👉 www.mindsetmentor.com My first book that I’ve ever written is now available. It’s called LEVEL UP and It’s a step-by-step guide to go from where you are now, to where you want to be as fast as possible.📚If you want to order yours today, you can just head over to robdial.com/bookHere are some useful links for you… If you want access to a multitude of life advice, self development tips, and exclusive content daily that will help you improve your life, then you can follow me around the web at these links here:Instagram TikTokFacebookYoutube

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I'm your host, Rob Dyle. If you have not yet done so, hit that subscribe button so that you never miss another podcast episode. And today is Thursday, which means it is the business edition of the Mindset Mentor, which also means that I am joined by my best friend and business partner, Dean DeVries. Dean, what's going on, buddy? What's going on? Happy Thursday. Happy Thursday. Today, we're going to be talking about the six reasons why businesses fail. And so we have coached many people in many

different categories and consulted with many businesses as well real estate sales multi-level marketing plastic surgery franchises consulting transportation door-to-door sales ecommerce tech manufacturing you name it we've worked with so many different yes so many different businesses because once you see business and you understand it, you can understand where there's holes in the business. So we're going to talk about why your business isn't growing. We're going to talk about what's failing or for some of you guys, why you're exhausted in your business or why you might even resent your

business at this point. Yeah. And these are like the six fundamental mistakes that we've seen across all industries. And these are kind of the pitfalls that I feel like a lot of people find themselves in. And so the goal of this episode is to really uncover these things and also just be honest with yourself and see if you can relate to these. And if you can, then there's an opportunity for you to get unstuck and really get more fulfillment in your business. For sure. So let's dive into the first one.

So one of the biggest ones that we find with people, number one is that they're not aligned with their business. And that doesn't mean that they need to shut their business down. It just means that they have no idea how their business fits into their life purpose. And for some people, what that means is they actually don't know what their life purpose is. They don't know what their North stars. They don't know what it is that they're working towards. Yeah. Like one thing that I always think about is like you, when you first started your real estate business. Yeah. Yeah. And it's a good example of this is, um, you know, if I, if I'm being really honest, I didn't love selling houses. Uh, but what I went into that

business with the intention, uh, the intention that I had from the very beginning was to build a team because what I do love is I love supporting people and helping them build their business that they were just happened to sell houses. But you know, part of it is I had to get really good at selling houses, but I was connected to that vision of supporting other people. A hundred percent. Yeah. And that's, that's a perfect example where it's like, there's a lot of people that are listening to us that have one, two, three, 50 employees, and you might be a manufacturing company and you're like, well, I'm not in love with

manufacturing widgets, you know, plastic widgets. I'm not in love with it, but can you be in love with the people who are in your company and having a way for them to attain their dreams through your business? You know, if you sat down like a book that we read a long time ago, when we first got into management, it was called dream manager, right? Well, you sit down with every single person in your team and find out what their dream is, and then find out how your business can help them get that dream. Would that make you more excited to show up to your business? And would you feel more aligned if instead of just manufacturing plastic widgets, you were actually showing up to help people's dreams come true? Yeah. And just,

just to like further connect to that point, when people used to ask me what I did, I didn't, I didn't say, you know, I have a real estate business. I actually used to say, I have a people development business and we just happened to sell real estate, you know? So like, and that's an expression of really like the alignment, like in order for me to feel really good about the things that I was doing and find the purpose in it, I had to re reshift my focus that I'm not a person that sells houses. I'm a person that develops people or helps people achieve their dreams. The vehicle just happens to be the transactions of houses. A hundred percent. Yeah. So that's one of the things that we work with a

lot of business owners on when we consult them, when they're drained, when they're exhausted, is that they've lost the alignment to their business. Like the business should feel like a puzzle piece that fits into your life vision, not something that you have to the alignment to their business. Like the business should feel like a puzzle piece that fits into your life vision, not something that you have to wake up and go do. So the biggest thing that we find with a lot of people is that they just don't feel fully aligned. So that's the first reason why people's businesses fail.

That's why they run their businesses into the ground. That's why you're exhausted. That's why you don't feel like you're, you know, in love with your business anymore when maybe you were years ago. The second thing is that people tend to spread themselves too thin. You know, when you look at a business owner, a lot of business owners don't remove themselves from the day to day as they're continue to, as a business continues to grow. And, you know, when you look at it, some of the

plates that you're spinning in your business are not your specialty. And when you look at our business, you know, did it start off where we did everything? Yeah, absolutely. Before it was when it was just me, I did everything. And then when we when you join the team, we did everything you and I and we figured out, okay, I do these things, you do these things. And then we started realizing like you have a zone of genius, I have a zone of genius. And we've said it many times before in this podcast, and we speak is like the only two things that I should do in the business now that we've grown and we've said it many times before in this podcast and we speak is like the only two things that I should do in the business now that we've grown and we have team members and we support a lot of different people

is the only things that I should do for 95% of the time, and mind you, 5% of my time I have to do other stuff, is the only thing I should do is do coaching and create content. That's it. And the only thing that you should do is coaching and support the sales team. Besides that, everything else

is outside of our zone of genius. Did at one point we have to do the marketing side? Yes. At one point, did you have to set up different webpages and CRMs and click funnels and that type of stuff? Yes. But what happened is as the business continued to grow and brought more money in, we started delegating more, which is what a lot of people have a lot of trouble doing is they have trouble

delegating and then they become the bottleneck of their business because they're spreading themselves too thin. Yeah. And if we never delegated, we would be stuck in, you know, we'd be hitting that glass ceiling and we would fucking hate the business is what would happen. We would grow to resent the business had we not brought in people that their zone of genius is the place where we're not in our zone of genius. Yeah. Another perspective though, on, on spreading too thin is also like one thing that we did do really well is that we focused on the one lever in our business that we, you know, we're really focused on mastering, right? We weren't trying to develop like all of these revenue streams and you know, we, we didn't

go for everything all at the very beginning. And so I think as an entrepreneur it could be very seductive to see all of the, these different opportunities, whether it's in your business or whether it's starting another business. Like I know some people that are, you know, it's almost like a badge of honor where it's like, you know, I run six different businesses and like all of them, you know, there's like not one that's like actually profitable. Right. And so, you know, and if you look at, and I think they're like, you, you, you're a big

fan of shark tank. And so you see these, like, you know, these sharks that are investing in all of these different types of businesses. But the truth is that that's not how they got there. How they got there is they focused on one thing and became excellent at it and became the best, you know, among the best in their space. And that's how they got rich. And then once they got rich, then they started investing in other things. entrepreneur or the, you know, the entrepreneur that, that just starts off with six different businesses from scratch all at the same time and, and like hits a home run in all of them.

It just doesn't exist. You can only hit, you know, one home run at a time. Yeah. Yeah. And that's the thing is that, you know, one of the things that we coach a lot of people through is hiring and hiring the right people based off of their zone of genius and their specialty, because you've got to start delegating. That is one of the hardest things for entrepreneurs to do is to delegate. And, you know, when you're a new business, pay the bills, which is your business bills, pay your personal bills, and then start hiring people because that's the way that you make a lot of money. A lot of entrepreneurs, they spread themselves too thin and they, you know, your business might bring in, you might profit $75, they spread themselves too thin and they, you know, your

business might bring in, you might profit $75,000 a year and you start buying, oh, I'm going to buy a new car with this $75,000. No, screw that. Like wait five years, continue to drive that car, run it into the ground, but hire somebody, two people at 35, $37,500 a year part-time to come in and help support you with that money instead. And your business will scale to massive numbers. Our business would not be able to do what it does now if it was just me and you. It would just, we'd be spread too thin.

And so what happens is people build businesses for freedom and then they start making money and the feeling of making money gets so seductive that they get attached to their business and they need freedom from their business now versus learning how to actually put the right people in place and have that business grow. Like one of the guys who's in our Kaizen Mastermind,

he has two franchises and he overstaffed his franchises, hired too many people, managers, to get things done. And when I say too many, it's not like there's 400 people running around. Like, what should we do? But he put more people in place, removed himself from the business, and they crushed all of his goals that he set.

So they're doing better without him in the business than when he was in the business simply because he removed himself. He's got four children. So guess what? He gets to spend a whole lot more time with his children and make more money. That sounds like the dream.

It sounds like it's fake. But it's the truth when you set a business up right. And that's what most people don't do is they spread themselves too thin and they start resenting their business. Yeah. And the other thing, too, about that is when you're when as a as a an entrepreneur or business owner and you're hiring people, that's not an expense. That's one of the best investments for sure that you'll ever make. that's not an expense. That's one of the best investments that you'll ever make. You're not only investing in somebody else's livelihood, but you're investing in the resources of the business because it has more things that can be done. It has more time. It has more energy that's

coming from another person that can help you grow and scale the business. And the return on that investment is more revenue, more income. Um, but also what you said is more freedom, more time, you know, and that's the thing that, you know, I think we'll talk, actually talk about that next, but I think that's the thing that is the missed opportunity for many entrepreneurs is to not value that time enough. Yeah. Yeah. The one thing that I always tell people is I want to make you more money and let you spend more time with your family. And people don't, they don't know that's possible. And that's really what we try to specialize in. So, you know, the next three kind of go together, but in different ways. So number three is not having work hours. So one of the things that we

see with a lot of entrepreneurs is they don't say I work from this time to this time. It's just like open. I'm working all fucking day. And that doesn't do any good. You've got to have a, okay, I start work at 8 a.m. and I get done at 6 p.m. And then hold your boundaries more than anything else because you got to have time where you're locked in and you got to have time

when you're removed from the business. And this was a really big thing for me was when I first started the business, I told myself I did not deserve free time until I was where I wanted to be. And the problem with me and probably a lot of people out there listening is that if you're like me, whenever you get close to a goal, you just push it further out. It's like the horizon. Like, I'll never get to the horizon. It's just going to keep getting further and further away.

And so it's like you have to say from this time to this time, I'm off. You know, you're answering work emails at 1130 p, right? When you're trying to go to bed, you're skipping your morning routine where you should be filling your own cup and meditating or working out or journaling or reading or self-improvement simply because you're never shutting it down. And you've got to have a, I work from this time to this time and you got to hold that sacred. Yeah. It's valuable to not only make sure that you're enjoying the time that you're, you know, outside of work, but also it's about getting to work too. You know, there's two types of people, you know, two types of new entrepreneurs. There's the entrepreneur on one side. That's like, you know, I used to use this joke. That's like, yeah, you know, as a, I wanted to become a business owner,

which means that I can, you know, I have a to become a business owner which means that i can you know i have a flexible work schedule which really means i get to work all the time right so there's that on one side of the spectrum it's that person and then on the other side of the spectrum it is you know the double-edged sword of entrepreneurship being that hey i can work when i want to work yeah which the bad side of that is i never work work only what i want to work, which the bad side of that is I work only what I want to work. So, you know, I think having those boundaries and those standards of, you know, blocking off the schedule and just as if as if your boss, if you were your own employee, would you fire yourself? That's the guiding question that I always ask myself when I was

a new entrepreneur is what I fire myself. And sometimes the answer was yes, because I'm like, yeah, I showed up late for work today, you know, like even though nobody's going to fire me and that's why it's easy to show up late. But if I have an appointment with myself, if I tell myself that, Hey, I'm going to get into my office at 8am, you know, and I roll in at eight Oh five, I can get fired for that. If I wasn't, you know, if it was somebody else. And so, yeah, I think that's, that's just really important is to, you know, use that, that counter, hold those boundaries sacred, you know, Hey, if you're working from eight to four, eight to five or eight to six or whatever the case may be. Um, and also if you're taking a

break, you know, if you've got a two hour break in the middle of the day to, you know, have lunch, go work out, whatever, it's going to, you know, satisfy your needs and make sure if you're taking a break, you know, if you've got a two hour break in the middle of the day to, you know, have lunch, go work out, whatever. It's going to, you know, satisfy your needs and make sure that you're performing. You know what you got to do. Take that time, you know, hold the boundary sacred, just like any other appointment. You wouldn't miss or be late to any of your clients appointments. So why would you do that for your, for your own appointments? Yeah.

Yeah. And then also the same time you tell yourself what time you're going to shut off. And the reason why that's important is because it's like, you know, the most productive you are as a day before you go on vacation. Why? Because you've got to get stuff done. So if you know, all right, I shut off at six o'clock and then I go and I hang out with my family or, you know, I go out to you with my girlfriend or whatever it is, you got to

have that shut off point. So it forces you to be more productive in your working hours, knowing that that shut off time is coming. So that's number three is not having work hours. Number four goes a little bit with this, which is that you don't take time off. And I mean, time off as far as like weekends and vacations, you know, for me, I didn't take weekends off for years and my business kind of grew. But what's funny is when I took weekends off, my business actually exploded. And the reason why is because I came back more rejuvenated, right? So like the example I was giving, we were outside a little while ago and we were

shooting my compound bow, right? In order to shoot that bow, you've got to pull it back in order for it to go forward. And that's kind of what the weekend is where it's like, first off, I wouldn't recommend going and getting shit faced on the weekends because then you're going to come in Monday, Tuesday and not feel really good. But having the time to disconnect from your business, fully disconnect, not check your emails on Saturday morning, whatever it is, fully disconnect and have weekends off and then take a couple vacations. We know entrepreneurs haven't taken vacations in six years. I'm like, listen, honestly, that sucks. I don't want your life. You know, are you building a business and a lifestyle that you love? Or do

you feel like a prison to your own business? Like you've got to be able to remove yourself from the weekends and take some freaking vacations and enjoy yourself. Yeah. The other thing too is, you know, are you also the type of person that, um, takes a vacation and it's not a real vacation because you're on the phone the entire time. I used to be like that too. You know, just being transparent, like, you know, uh, especially as a new realtor, it was hard for me to, to take, take that time off. But man, you know, there were times when we were on vacation together and Dean would be on his phone the entire time. And literally to the point where, when we were in Sedona one time is me you and Lauren I made everybody put

their phones in the middle and said whoever touches their phone first at dinner has to pay for it and then Dean was like oh okay I'm like I touch my phone yeah but when you don't have those boundaries you could be on it all day long you're on vacation and I also remember like that night I'm like man you know I actually feel way better cuz I was just in the tunnel you know yeah multiple deals going I was just wrapped up in it. And the truth is that nothing changed because I took, you know, took a few hours, took the rest of the night just to connect with you guys and,

and have a, you know, have a night off. It's so easy to think, and it's really like a scarcity mentality. It's so easy to think that by walking, you know, putting the phone down and, you know, walking away from the business for a couple hours or a day or two days or a week that things are, you know, things are just going to go up in flames when that's just not the truth. Right. What's what's what is going to happen is you're going to get rejuvenated. You're going to show up powerfully. You're going to be you're going to have more energy. You're going to feel like this is worth it. Right? Because I mean, if you spend your entire life focused on, on working, but you don't enjoy it, eventually it's going to burn you

out. Eventually it's going to be like, why am I even doing this? If you would have gone to Dean and Rob 10 years ago, when we weren't running a million dollar business, we'd have been like, fuck that. We work all day long, all that. And now that we have a successful business, we're like, no, weekends were taken off. Like, it's so funny because it's so opposite of the way that we used to actually think that success was. Like, it's very much a paradox from what we were raised as working 110 hours a week in our first businesses. So, you know, you've number four, the reason why you could resent or be tired of your business, because you're just not taking the time off the weekends of vacation. You got to enjoy your life more than anything else.

Number five is because you have the feeling that time equals money. Now, this is a big thing for us. And we're working with entrepreneurs in our archives and mastermind is that people can't disconnect. Part of the reason why you can't disconnect is because you feel like every message that you send is money coming into your bank account. And time in your business is money in your bank account is the way that you see it. And as your business starts to grow and you start to hire more people, it's not supposed to be that way. It's not supposed to be that I have to show up in my business and work a hundred hours anymore. It's like I'm hiring people. People, as you said, are not an expense. They're an investment

because hiring that person should bring more revenue into my business. If I'm paying someone $60,000 a year, they better be bringing in more than $60,000 a year into my business, but they also should be giving me more free time. So you have to realize that time does not equal money in your business. It doesn't happen that way. That's the reason why you pay other people is so that you can literally stay, as I said, in your zone of genius

and have other people be in their zone of genius, but also allow you to have more time to work on ideas for your business or spend some time with your family. We have many entrepreneurs that we've worked with that work 15 hours a week and they make a half a million dollars a year, a million dollars a year in their business from working 15 hours a week because they've set their business up to be that way. Yeah. And I think that this myth of, you know, more money equals more time is actually the reason why, you why, and we've seen this a ton,

where people don't go for these bigger income goals and really be committed to building a big business because this paradigm of, oh, well, if I want to make more money, then I have to work more, right? And that's simply not true. Especially if you have a family that's that gets real hard because if you're there making a hundred grand a year but you're spending at

least a little bit of time with your family and you're thinking to yourself okay well if i put more time into my business to make more in order to make more money i'm gonna put more time my business she means i'm gonna take time away from my children and my wife yeah and just that thought alone like it will your business oh well yeah and just that thought alone like it will your business oh well yeah and don't yourself like you know your your mind is after that because it's like well if that's what i have to do with this business this business yeah right and that's the that's the road to resentment your children will always be more important than money yeah and that means that your business will not grow simply because of

your paradigm that i have to work to make more money versus I have to put the right people in place to make more money. And this is a whole paradigm shift that we work with, with entrepreneurs, because they don't actually see that because in the quote unquote real world of people who talk about business, but don't really run businesses, people think, oh yeah, well, you know, in order for me to run a $5 million a year business, I have to work a hundred hours a week and I have children and I love my children. And they're at an age where I want to be able to see them grow. Like Denver, for instance, your son is two, right? He's at like this age where you don't want to waste any time and not be around him. But so many people have

the paradigm of in order for me to make more money and to grow my business, I have to put more time in it. And that alone makes me go, no, my, my family's more important than my business. Yeah. And also like, if that's, if that's the paradigm in the story that we're subscribing to, it's going to close us off to any other possibility. But, you know, and I think like the work that you and I do and helping people kind of begin this journey is really just like believing that it's possible, you know, believing that like, Hey, I can make more money and have more time with my family. You know, I can have it all and be able to have more, more time. You know, it's not, they're not mutually

exclusive when, when it's set up the right way. It's a hundred percent possible. Yeah. And I think that that's a, uh, that I want to ask everybody listening to this. Is there a part of you where it feels like your BS meter is going off right now? Because if there is, that's your problem in growing your business is there's, there's no way my business could grow because I have to put time in. No, it's, it's not the way that it works. It doesn't mean that you have to put the time in. You have to put the right people in place, which is a hiring problem that you might have put the right people in place to help you grow your business. You know, like for instance, we were talking about, uh, someone

who's, who's in our, our mastermind Kaizen and, uh, you know, he's got four children, all of them are under the age of seven. Um, and his wife has literally told him if he ever leaves the mastermind, she's going to leave him because she's literally seen that much of a change in him. And he's spending time with his children, more time with his children, and he's making more money than he ever has. And so it's like, that doesn't seem from our old paradigm of running business, like I was talking about 10 years ago, that doesn't seem too possible. It seems like the get rich quick, too good to be true, ignorant stuff that you start to see people talk about, right? Join my webinar. I'll tell you how to make more money

and spend more time with your children. You don't have to do anything except for sleep. Right, yeah, exactly. Just take more naps. That's the key. But it's about being smart and meticulous in planning your business. Is it immediately happen right away?

No, but it requires planning. It requires intention and putting the right people in place and the right puzzle pieces together to make sure that that happens. And most importantly, it takes a mindset shift because Albert Einstein said it best. You can't solve a problem with the same level of consciousness that created the problem in the first place, right? So you can't, you can't create a possibility with the old way of thinking,

right? You've got to break all of the rules that you've been playing by. If this is the world that you're stuck in and you got to play by a new set of rules because only, only that new paradigm will bring in a new possibility for sure. Yep. And then, so that's number five is you think time equals money. And number six is your self-worth is attached to the business. This is all mindset frame. So one of the things I'm obviously the mindset mentor. That's what I'm obsessed with is one of the most important things. And what we've talked about almost this entire episode is the mindset behind the business owner is actually going to affect the business, right? That's something that we dive really deep into, into identity, into self-worth,

into paradigm, all of that stuff. Uh, when we're working with business owners, you know, how your business affects your self-worth. There's a lot of people out there that when your business does really well, you're on cloud nine. You feel amazing. You're like, I am the shit. I got 99 problems and run a successful business. This isn't one of them, right? And then when your business does bad, you feel like crap. You feel terrible. And you know, your, what's actually happening is your self-worth is attached to something external, which is your business. And anytime your, your self-worth is attached to something external, you're screwed. And the reason why is because your self-worth has nothing to do with that thing that's external.

And so one of the things that we have to do is we have to reframe the paradigm of a business owner to realize that the success or lack of success of their business has nothing to do with their self-worth. And that allows them to detach themselves and not see it as a part of them, but see it as a separate entity to be able to start putting the right piece in place to remove themselves from that entity. Because it's not them. It's just something that they built. Yeah. And also at the very beginning of that journey, reframing the business as not being something that's attached to how they see themselves or their value.

But rather seeing it as their, you know, their, their greatest mirror for how they can grow. Because we say it all the time, your business is a mirror. And when you can rely on your business as just a way to show you what you need to work on next, if, if, if you're extremely dedicated to being, and this is why you, I think you and I love just business in general is because it's such a good mirror. And we're also super committed to, to growing ourselves. Like we literally, one of the, I love just business in general is because it's such a good mirror. And we're also super committed to, to growing ourselves. Like we literally want one of the, I was just having this conversation earlier today.

One of the reasons why our relationship is so strong is because we call, we call each other out on our bullshit, but we hold a high standard for each other. And we actually have conversations where it's like, Hey Rob, you know, what am I fucking up at right now? Like, where do I suck? Where do I need to work? Right. And the same thing with you. And so that, that has developed a really deep relationship for us. And your business is the same thing. Your business will tell you those types of things. And if you're a really committed student to the journey of personal growth and becoming

the best version of yourself so that you can create the life that you're truly destined to, to create and live the life that you really want, your business will tell you exactly what you need to work on. And it is your biggest, uh, and probably it's your, your biggest advocate and most valuable advocate for sure. Yep. Agreed. So that's what we got for you for today's episode. If you're out there and you're a business owner and you're looking to grow your business and you're looking to work with a community of other entrepreneurs that are working on themselves mentally, physically, emotionally, spiritually, and trying to grow their businesses, start to remove yourself from your business, put the right people in place to allow yourself to spend more

time with your family, to allow yourself to travel, to allow yourself to pick up more of your passions and spend more time doing that. Then, you know, you can obviously email us about our Kaizen Mastermind. We have our first international event coming up in September. We're going to be in Mexico in September. And so if you want to join us for an entire year of consulting, of growing your business, of deepening your relationship with yourself, with your family, with your mindset, emotionally, physically, spiritually, all of that stuff that we talked about, because your mindset is the main thing that's affecting your business. Send Dean an email, dean at robdial.com, D-E-A-N at robdial.com. We can start to talk to you about it, see if it's

right for you. There is obviously a process that you have to go through, but if it is right, then you would join us for 12 months. And the cool thing about that is we'd be able to work on you, be able to work on your business, and we're going to take some amazing trips and we'll see you in Mexico as well. So if you're interested in learning more about that, and you're interested in learning and growing your business, once again, dean at robdial.com. We would love to work really in depth with you over the next year. And I'm going to leave you the same way I leave you every single episode, make it your mission to make somebody else's day better. I appreciate you, and I hope that you have an amazing day.