Running a Business

Destroying your Startup Before it Even Starts!

You are surely visionary, creative, and have leadership qualities. This is the reason why you are an entrepreneur or an aspiring entrepreneur. However, there are shortcomings that many people have along with these excellent qualities. Those shortcomings can cost you your business.

While no one is perfect and everyone has flaws, there are a few flaws that simply can’t be ignored. They don’t just irritate people around you but also impede your business and ultimately destroy it. Surely you want your business to be very successful. This is why you should identify your flaws and try correcting them before it is too late.

Obstinacy

Yes, being stubborn is good. Being relentless and working hard is also good. However, being too stubborn is not good at all. While being passionate about your idea you have to be flexible. You should welcome new ideas.

Your idea may be brilliant. No one is denying that. But when there is room for improvement, why don’t you allow it?

Egotistic

There is absolutely no room for ego in business. Of course you are proud of your idea and what you want to do but that doesn’t mean you are the supreme ruler of the world and no one else is as good as you. There are people who have tried and failed. Follow their advice so that you don’t fail like them. Don’t push away people who want to help you and who offer ideas. Invite ideas and criticism.

Be open to change and rejection because these are inevitable in business.

Not Focusing on the Goal

Right from the start you should focus on the end goal. Do you want to sell it in the end or do you want it to go public later on? What is it that you are working for? Your goals should be your focus. Don’t just think about what you want to achieve in one quarter. Think of what you want to achieve in the long run and work towards it. Otherwise, you won’t see success.

Haste

Why should you rush? Why do you want to open before your ready? Isn’t that sheer stupidity?

You should be completely ready to start before you start. Opening and then learning things the hard way will spell disaster for you. Don’t risk it. There is just too much at stake.

Procrastination

While some people are very hasty, others are quite the opposite. They tend to postpone things! The reasons are varied here including fear of success, fear of failure, low confidence levels, and so on.

Listen to this clearly: If you have an idea, you spill it! It may not be the greatest idea but it is important that you express. It is completely okay if the idea is not good enough. No one will judge you. Who cares even if people judge you, anyway?

Not Giving your Hundred Percent

Your business needs all your time and patience. That is why it is important to balance your life. You can’t continue your job as well as your business at the same time. You can’t run a business and take care of your kids at the same time. As and when possible, ask for help. There is nothing to be guilty about. Spend time with your friends and family as and when possible without the guilt!

So, how many of these qualities do you possess?

Entrepreneurial Learning

Along with some great traits, some people have disastrous traits that overshadow the good ones and ruin their business even before it makes a mark. Do you have one or more of these traits? It is time to find out and correct yourself before it is too late.

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