5 Things You Should Not Do as an Entrepreneur8:32 PM
Successful entrepreneurs always learns from mistakes, and you should follow this rules too. This is...
Successful entrepreneurs always learns from mistakes, and you should follow this rules too. This is not only your mistakes, you should learn about other entrepreneurs mistake. Learn from the mistakes introduces to have a successful and profitable company. Earlier a few week I have covered entrepreneurial mistakes issues, you can check it out here. And here are the 15 signs to check if you are an entrepreneur.
1. Stop planning team meetings. Basecamp founder Jason Fried, said that "boards are toxic, terrible, poisonous things during the business day." In my opinion it is right, maybe you're deceiving you think your weekly meeting of 10 people is a good use of everyone's time, but you're wrong.
Think about this: when you have meetings that last 60 minutes are taking not only a time of day for all but 10 hours of your team as a whole. Each person is losing an hour I could have spent doing quality work, something that generates money and make your business grow.
Check out: 7 Reasons Why Most Entrepreneurs Fail in Business
Tip: Cancels all meetings you have scheduled this week. Instead of talking about what needs to be done, it resolved what to do. Tweet2. Stop getting involved in all projects. When your business is small, it may be better involved in each project and decision need be, but as it grows need to be able to drop the reins at some point. If you can not make aside or delegate tasks, it is a sign that you do not trust at all the people who hired. As an entrepreneur you need to delegate. Once you start to trust your team, give freedom to try new ideas and strategies, it will not be long before you see positive results.
Check out: 7 Characteristics Of a Good Entrepreneur
Tip: Hire people who know more than you. Pay them well, keep them happy and help you become the most successful business leader. Tweet3. Stop see below. In business, things change fast. Your job as an entrepreneur and leader is to create a place where all who work for you are comfortable and adapt quickly. That means you can not spend too much time watching future.
I'm not saying you should not have long-term goals you and your team, you must. Just do not spend all your time thinking about how things will be in many years. Instead focus on the present. Set goals that can be reached by the end of the week, month or quarter. Find victories and success recognized at a distance; It is an important part of growing your business and loyalty of your team.
Tip: Write down three goals you want to achieve by the end of the week. Review them on Friday and see how you did. Tweet4. Stop making assumptions about customers. It's easy to do this but it does not help when it comes to growing your business. As an entrepreneur you can not afford to make assumptions about what they feel, consumers want or need. You need to spend time collecting data, both quantitative and qualitative, that can help you understand your customers. This means using surveys, analyze, learn from analysis and become a better listener. When you stop making assumptions and begin to really learn you become a better entrepreneur.
Check out: 10 Tips For Young Entrepreneurs To Avoid Premature Failure
Tip: Talk to one of your customers every quarter. Ask questions but also be prepared to listen. Tweet5. Stop being afraid of competition. Put them attention and learn, but do not worry about them. If you have a good product or service, a good brand, equipment and processes, you will find success. Many entrepreneurs get caught up in battles with competitors. Most spend time and money by throwing vague campaigns and other "dirty" tactics to make people look bad. Do not fall into that trap. Instead of spending so much energy and time focus on win the loyalty of the people, to make the best products and gather a strong team.
Tip: If one of your competitors is doing well, make an online and offline to learn from this analysis. Take what you learned to see if it applies to your business. Do not copy, learn to do better.