Entrepreneurs, especially startuppers, face many difficult tasks on a regular basis. You need to push up sales, expend your client base, hire truly professional employees, manage finances and documents. The biggest problem of starting businessmen, though, is either underestimating or overestimating their abilities. Here are the things you should do if you want to ruin your startup.
1. Constantly think of profit
The basic goal of every business is to bring in money. However, when the money matter becomes an obsessional idea, the relationships with clients can seriously suffer. In companies where profit is an obsessive goal, employees are usually under a lot of pressure because they always try to increase profits and pay less attention to providing the best services for the clients.
2. Be infinitely self-confident
The right amount of confidence helps you grow your business; self-conceit, on the other hand, can actually ruin everything. The excessive presumption can lead you to underestimating the risks, making impossible plans and wasting your time and recourses.
Tip. Don't make hasty decisions. When you see a new opportunity, take a break and make a few scenarios of how the affairs can develop.
3. Acquire a "creative" personality
Great ideas stimulate business; too many creative ideas can cause the adverse effect. Entrepreneurs who always gush with initiatives usually confuse their employees and often forget about the main goals of their business.
Tip. You should carefully select the ideas that will help you move the business in the right direction.
4. Control everything
Entrepreneurs, who prefer taking all the responsibilities, can do fine at the beginning of their business. However, when the company grows, the necessity to control everything can stand on your way of focusing on your goals and plans.
Tip. Hire good employees, train them and give them some of your responsibilities.
5. Assign the tasks ineffectively
Delegation of duties is very important for a business. However, it is not very easy to organize this process. Often entrepreneurs assign something to an employee and start meticulously control it and cavil at every small detail. Such behavior doesn't end up well.
Tip. If you want to delegate some of your tasks, find an appropriate employee, give them detailed instructions and be patient.
6. Pursue a selected course even if it has proven to be ineffective
Stubborn entrepreneurs tend not to step back from the chosen strategy, even if it is obviously wrong and doesn't bring any profit.
Tip. Create a step-by-step plan; watch the results and see whether there is any progress. Be ready to change the strategy if it is necessary.
7. Be short-sighted
Often entrepreneurs literary fall in love with their idea or product. A powerful desire to succeed and inability to look at the project from all the angles end up in entrepreneurs not noticing major flaws of the project.
Tip. Try to look objectively at the thing you are offering to the audience. Ask for advice from people who can help you look at the situation rationally.
8. Don't build social connections
Strong social connections influence a company's growth in a massive way. However, many entrepreneurs fail to build an effective system of social connections for different reasons.
Tip. Choose a strategy of building social connections.
9. Be preconceived
Often entrepreneurs, who achieved something, start to overestimate themselves. They pay attention only to the information that confirms their opinion and ignore every different point of view. Thus, they start making the wrong decisions.
Tip. Communicate with people who have different points of view. Let them criticize your ideas and methods. It will help you see all the flaws.
Sometimes it is easy to change the attitude; sometimes it is hard. At least you know where to start now. Evaluate your strong and weak points. Acquiring good habits and quitting those that drag your business down, you can achieve incredible results. And remember: the more you develop personally, the more your business is developing.
