As a beginner, being an entrepreneur could be very challenging. There is so much to do and learn. To achieve the success you want, you must make sure that every of your efforts counts.
The purpose of this article is to highlight some things entrepreneurs do which are basically self-defeating. You might be sabotaging your own entrepreneur efforts without even knowing it. Things like…
1. Doing everything yourself
We all know the popular saying, “the best way to get anything done right is to do it yourself.” It could be tempting to do everything yourself as a starter especially if you are running on a lean budget (or if you are a perfectionist). However, as much as possible, you must let other people take some chores off your hands so that you can focus on the parts of your business that really require your attention.
Imagine spending hours designing a website when you could be spending the same time finding potential clients or investors.
Sure, you can do it all yourself if you are very skilled but who says you have to? Learn to delegate and outsource tasks as much as possible so that you can focus on your bottom line.
2. Complaining about everything
If you want something to complain about, the list is endless.
Government tax is too much
There is no stable electricity
There are no customers
People are not willing to pay…
There are two types of people: those who see a problem for every solution and those who see a solution for every problem. The first class of people never achieve anything much and they are the ones who complain the loudest.
A true entrepreneur is never frustrated by anything – Dr Strive Masiyiwa
Those problems you complain about could be key to your biggest entrepreneur opportunity in life. Learn to switch your mind from complain mode to solutions mode. That is the way a true entrepreneur thinks.
It is not denying the facts – we are all looking at the same set of problems. But one group of people complain about problems while the other group find solutions to them.
The ones who find solutions are the ones who make all the difference. Do not complain about anything. Do not be frustrated by anything. You are an entrepreneur.
3. Listening to negative people
One thing worse than complaining is listening to people who complain about everything. You should stay far away from people who only tell you how bad things are – they are negative people. As someone who wants to succeed, you don’t want to be listening to negative people.
Surround yourself with people who are positive-minded and solution-oriented. If you must listen to negative people, do so from the mindset of working out solutions for their many ‘problems.’ But be careful not to allow them convince you that things are completely hopeless.
4. not having a plan
Many new businesses go under because their founders run off with a ‘brilliant idea’ without working out an execution plan. Having a plan is critical to business success. Before you set off to do anything, ask yourself, “what is my plan?”
What is your plan for getting customers?
What is your plan for building a website?
What is your plan to convert prospects into paying customers?
If you don’t have a plan, you are sabotaging your own efforts.
5. writing a business plan
Now I know what you are probably thinking – how is writing a business plan self-defeating especially when I just said you should have a plan? Don’t shoot me yet! 🙂
Having a plan is entirely different from writing a business plan. A business plan is a document detailing the plans you HAVE for your business and what the long-term goals of the business are.
Here is an email I received a few weeks ago:
My name is xyz, please help me. I want to start xzy business but my problem is I don’t know how to write a business plan. Please how can I write a good business plan?”
My first reaction was, how will you write a business plan for a business you know nothing about?
The first thing you should do as a beginner is to spend as much time as possible learning everything you can about the business you want to venture into.
Of course, you should have a business plan. Every business should have a business plan. But it is not the very first thing you want to do as a beginner. It could take weeks, even months, to write a good business plan. You can better spend that time tweaking your business model and finding the best ways to succeed in the business, not writing a business plan.
Start something. Don’t wait to write a perfect business plan to start your business. At best the business plan is for your consumption anyway. If you are looking to attract investors, smart investors don’t put money in untested business models. They want to know that your business works so they can give you money to scale things up.
When you know enough about the business, you can go ahead to write a business plan. Then you will have facts, data and numbers to back up whatever you say in your business plan.
Being an entrepreneur is already hard enough as a beginner without shooting yourself in the leg. Make every of your effort count so that I can celebrate you with the rest of the world.
Did you enjoy this article, why not share it with your friends on social media?
If you enter your name and email address in the box below, I will send every subsequent article on this blog straight to your email box. Do it now.
Latest posts by SamuelTroy (see all)
- How to Start a Tissue Manufacturing Company in Nigeria - April 24, 2017
- 5 Popular Quotes You Must Stop Believing if You Want to Succeed as an Entrepreneur - April 21, 2017
- 5 Websites You Can Learn Marketable Programming Skills Free of Charge - April 19, 2017