Success is all about Barriers to Entry
Let me explain.
In business, we call an obstacle to entering a market a Barrier to Entry.
There are also barriers to entry for anything you are trying to do differently from what you currently do.
The barrier to entry may be as small as not having the time.
But usually the Barrier to Entry is one or more obstacles that pose a road block in your mind to get to the successful outcome you want.
Your success does not hinge on the 90% you can do. It hinges on overcoming the 10% you currently cannot do.
This is huge. One of the reasons successful people are such avid life long learners is that they are continuously learning new ways to overcome the hurdles – the barriers to entry for their goals.
For example, for many people the technology of setting up a blog is a barrier to entry. This seems ridiculous to me because I can set up a blog in about 30 seconds and it never requires technology. However, for someone that has not done it before, it is intimidating. And that intimidation is their barrier to entry.
The technology is not the barrier to entry. I promise you that YouTube is full of great videos about how to set up a wordpress blog. If you have not done it yet, it is because of a barrier to entry in your head. Not a real and tangible barrier that exists.
This was illustrated very well to me years ago. I’d tried numerous times to build a sales team, and it always failed. I was not hiring the right people with the right skills and desires was one of the problems.
In my mind, sales people just did not work for our business model because it had failed several times. Then I was talking to a business veteran and telling him my woes, and he just replied, “Well, you have to keep trying.”
That was great. As small as that seems, in my mind I had given up, sure that it would not work in our model. In reality, I needed to learn how to hire better sales people and build the team appropriately.
If you know me personally, you know that I sometimes say that small business owners are their own worst enemies. What I really mean to say with that is this: If you want things to get better for you, you must focus on identifying the barriers to entry for the success you want to achieve and get the education and tools to overcome them. Take a half day off. Take a pen and paper someplace away from work and family. Identify your barriers to entry and how you will eliminate them.
Let me give you another example.
Barrier to Entry #1- My Attitude
I had a good and respected friend approach me about a “Business Opportunity.” It is an MLM and as soon as I heard that, I was very dissapointed that he did not have more respect for me as a serious business person.
Barrier to Entry #2 – My Belief
He showed it to me an it turned out that iLearningGlobal was a pretty sweet product, even if you do not sell it. But I did not believe I could resell it because there was no way I would start selling family and friends.
Barrier to Entry #3 – Cost
While I knew I would enjoy it for a month or two, I might not keep using it and the $79 would be wasted money.
COMMENT: See how all these barriers to entry are my own road blocks? I am too good, I can’t sell it, I won’t keep using it….
Ultimately what you try to do will succeed or fail based on external factors. However, I am willing to bet that 99% of things people try or want to try never have a chance because they have internal barriers to entry that are going to stop them.
So what happened with iLearningGlobal?
After several months, I decided I would try it. However, I would only sell it to people I do not know via the web and if I did not at least break even after 6 months, I would stop. That was the set of rules I made for myself to get over my own barriers to entry. The end result is that is has become a very profitable endeavor for me, not only generating a small income on the product, but acting as an introduction into a great group of people, some of whom I am now doing work with. See my iLearningGlobal Website if you are moderately interested.
Now I have the joy of working with a team of people and watching them struggle with their barriers to entry. These are the excuses I keep hearing:
- I cannot set up a blog
- I don’t have the money to pay for advertising
- You are already number one in Google, I cannot beat you so why try…
- I tried it for a week and no sales came in. It does not work for me.
A lot of things are getting easier and cheaper every day. Think about how hard it was to publish a book 10 years ago. Now, for no cost anyone can publish a book that is print on demand. ZERO COST – You are your only barrier to entry.
Think about how easy it is to set up a blog or website. 1,000′s of free tools are available and free videos that train you how to do it are also available. And there are places that host it for free with no advertising. You are the only barrier to entry.
I think it is worth repeating here.
You are your only barrier to entry.