Success and failure are two sides of the same coin. Making mistakes is part of the game and are perfectly normal. It’s best to embrace failures and move ahead. As an entrepreneur it is vital we don’t waste too much energy harboring the mistakes. These are 5 mistakes one should avoid.
- Being a know-it-all and do-it-all
A common mistake at the onset of every business is thinking you can control and run your business by yourself. However, delegation is one of the hardest things to learn. Delegation is not about distributing work. It’s about being able to do it successfully. It involves the right briefing, teaching, empowerment and making sure they have everything that allows them to excel.
- Not being a ‘people-person’
As an entrepreneur or a leader, it is most important to be a people-person and you will have to accept that eventually you will have to deal with the ones that work for you more than your product itself. Learn to take care of their problems and spend a considerable amount of time doing so. These people include your team, your stakeholders and your customers.
- There’s no slowing down
As your business matures, it will go through multiple stages of transition. Each stage will require a new set of requirements and pose new challenges. In the evolution of being a start-up to an SME or large enterprise, never skip or fast track your business growth. There’s always the right team, the right process and the right product for each period you are going through.
- I needed the money
As an entrepreneur, staying true to your values is the most important thing. Many entrepreneurs take on side projects or operations in need of money. However, one bad project or an unhappy customer can have more negative impact on your business that 10 good ones. It’s important to deliver a service where people say ‘Thank you’ rather than ‘keep the change’.
- I need the best
Practice makes you perfect. And when you practice long enough, you will become good enough. It’s very important to inspire, motivate and show your team the perks of having the right attitude. Look out for the right attitude while building your team, because the ones who have the right one will outperform the ones who lack it in no time.