It’s not all about the money, really.
Entrepreneurs are driven by ideas they believe in so strongly that they often give up steady jobs, hours of sleep, and any sense of security. And yet, most of us are striving for some financial reward (or at least stability), inspired by billionaire heroes like Richard Branson, Mark Cuban, or Oprah Winfrey.
But what happens when instead of making it rain you’re barely making it by? What happens when every day is a struggle to make sales and the thought of looking at your financial reports makes you want to cringe?
A common complaint from entrepreneurs is that they don’t feel like their businesses are making enough money. In fact, it seems no one ever feels like they’re making enough money, even if, statistically, they are making a lot. This happened in my own life when I overshot my goal and quadrupled my business revenue, yet still felt like I was floundering.
What’s at the root of this? It could be many different things. Take a close look at the following five common sources of your entrepreneur’s financial problems, and then let’s get started on fixing them.
Editor’s note: This article was originally written by Amy Rigby but has since been updated by Perrie Kapernaros, our expert staff writer who is highly experienced in research and investigative academia.