Drop These Character Traits that Can Ruin Your Business
Everyone focuses on the dos of being successful but very few pay attention to the don’ts.
Because of this, you see entrepreneurs who are actually doing the right thing and are on the path to success, but all their right moves become counteracted by all the other things they are doing wrong. This leads to all their good efforts and good intentions being all for nought.
But you don’t have to make mistakes that have already been made. Instead, you can learn from them by dropping these character traits that can hurt your ambitions.
1. Staying close minded: A close minded entrepreneur is a trapped entrepreneur. It’s impossible to grow as a businessman or woman if you are not open to new ideas and possibilities, and what doesn’t grow… dies. If you want to be successful, you need to be able to take advice. You need to be able to receive feedback from your clients and act accordingly. And most importantly, you need to be able to view the world in its entirety as a source of knowledge and inspiration that might take your business to the next level. But while being open-minded, learn to separate the wheat from the chaff – differentiate between useful and useless information.
2. Being stingy: It’s one thing to be frugal and it’s another thing to be close fisted. Frugal and economical is good. Close fisted is bad.
As an entrepreneur you will at times need to spend money to make money. But you also need to be sure you’re spending money right. Spending too little can turn your business into an underfunded sinking ship, but then again, overspending can drain your resources and leave your business stranded. For example, having underpaid staff will do you no favours when they discuss your business online.
3. Working alone: You can try, but I doubt you’ll succeed in business by working alone. At some point you’ll need some sort of assistance or support, be it financial, emotional, moral or intellectual. There are those out there who know more than you do and have experienced more than you have. If you refuse to tap into their knowledge to help your business, that simply amounts to you wasting resources at your disposal.
Alone, you might be better than others, but when working with a solid team, you’re capable of becoming the best. Trust me on this.
4. Working with wrong expectations: It’s nice to have big dreams. Seeing yourself as the next Steve Jobs or Jack Ma. But it’s smarter to work with realistic and attainable goals, because that way you get to grow step by step as you accomplish something new and break a new barrier.
But if you’d rather dream big and accomplish your peak at once, you’re either setting yourself up for devastating disappointment if you fail, or being overwhelmed and crushed by too much success coming too quickly – Trust me, not everyone can handle overnight rockstar status.
So communicate with entrepreneurs who are where you want to be. Ask them how they did it, the steps and what it really cost them. Use this information to setup your own realistic roadmap to success.
5. Being lackadaisical: If you’re not going to be passionate about your ambitions, then please just back away and make room for someone else to pursue the same dreams. How are you going to overcome the odds and make the sacrifices necessary of an entrepreneur if you’re not passionate? Without unwavering passion, you’ll probably never make it past the planning stages of your business.