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Entrepreneurs: Here are 10 Things You’re Doing Wrong

Filed in: Entrepreneur

Entrepreneur

 

Entrepreneur: one of the biggest struggles for entrepreneurs is they get so caught up working in their business and they neglect to work on themselves at the same time. Not good. Keep reading and I’ll explain why. 

Listen I get it. When I wake up in the morning I see that long to-do list and think there’s no way I can squeeze in another job, another activity, and another task. 

How Can I Make Myself Better Each Day? 10 Entrepreneur Tips to Get You Started

1. Not Outsourcing Enough

Budding entrepreneurs especially those who are a “one person show” try to do everything they can to save money especially when we’re just starting out. Kudos to us all for being prudent with our money. After all you do have a business plan to follow and I respect that. 

I too tried to do everything in my businesses, except for the things I obviously couldn’t do, like building a website. 

As an entrepreneur, you need to be steering your business’s growth and innovation. That’s why you need to outsource so you can also work on yourself. Outsourcing frees up your time so you can spend more of it growing yourself & your business. In fact, outsourcing can actually be cheaper than doing it yourself. If it takes you 10x, 100x longer to do something compared to someone who could fix the problem in 1 hour what’s the better use of your time?

Think about how much your time is worth. If you’re worth $100/hour and it took you $1,000 to fix the job compared to the expert who would have only charged you $500 you save $500 in value. Weigh out the pros and cons. Imagine how much free time you have to invest in yourself and other tasks.  That is called opportunity cost. What do we lose by doing everything ourselves?

2. Avoid Being a Perfectionist

Some entrepreneurs feel like only they can do the job right. You have to overcome perfectionism to be successful.

Entrepreneur

3. Not Working On Entrepreneur Skills

I always say be a lifelong learner. Heck, I hated high school and I couldn’t wait till graduation cuz’ I thought yay! I’ll never have to study again. That changed when my thirst for business percolated in my 40’s. 

Successful entrepreneurs observe their not so perfect self and they work on themselves with a plan. And never forget that your failures can lead you to the successes you have always dreamed about, if you take them as lessons.

I encourage you to create your best-self. Never be satisfied with what you are today – you always have some room for improvement. The more you have the more you can give, to your employees, your family, your friends, your community and so on. 

4. Stop Putting Your Head Down

Notice everything around you. What do you notice? The world is full of ideas, words, and wisdom if you just pay attention. When I drive or go for walks I pay attention to signs that come my way especially if I am trying to figure something out or I have to make a decision. I look for clues that the universe gives me.  

5. Feed Your Mind: Read

The first thing I do in the morning while I have my matcha is I read. It’s a habit I have developed and it helps me stay focused. 

It doesn’t have to take a lot of time. Start reading five minutes a day and then work your way up to 30 minutes. It’s great for your brain! And of course you are learning and growing at the same time too!

 

 

6. Avoid The Comfort Zone

Change is scary. Trying new things can be nerve racking. The best way to build your confidence is to try something new every day that is out of your comfort zone. You never know…opportunities might come into your life because you found something that motivated you or inspired you. 

7. You’re Like Everybody Else

There’s never been a perfect time to become an entrepreneur. Everything is at your fingertips if you wanted to start your own business. With social media marketing you have other people doing the word of mouth for you faster than you can do it on your own. 

But are you innovative? Or are you just using the same ideas that other people are using? If that’s the case will that actually help you stand out? You know the answer.  Choose a niche.

 

 

8. Obsessing Over Your Competition

I remember the time when I was running my day spa and there were rumors of the largest spa in town opening another mega spa just a few blocks from me. It seriously worried me. It was stressful. And guess what? All that worrying robbed me of energy. And it wasn’t worth it. My biggest competition never opened! 

Of course we all have competition and it’s prudent that you check them out but keep the focus on you. You have to focus on other important aspects of running a business too like self-evaluation and understanding the mindset of customers. As Mark Cuban once said, “Focus on building the best possible business. If you are great, people will notice and opportunities will appear.” 

At the end of the day people will work with people they know, like, and trust. 

9. Assuming Customers Know You Exist

When I speak with entrepreneurs they say “Yay! Anna I have a website and everyone will see me. Yay! I have my account set-up on Pinterest and people will buy my stuff!”

You gotta work it people. It’s called marketing. If you want to find new customers you have to find out where they hang out online. You will have to be where your customers are. For example, we know that Pinterest users have a planning and buying mindset. It’s their nature. If that’s the case isn’t it smart to connect with people who are in a shopping mood? 

10. A Know-It-All 

I find it amazing how many Pinterest managers get into Pinterest management services without having ever taken the time to actually learn how to use Pinterest for business. They think “I know how to pin, create cute images, why do I need to take a course?”

Running a business is all about learning and gaining knowledge. You owe it to yourself, your customers, and your employees to do things right. If you are not learning you are falling behind big time.

Summary

Building a business from scratch is definitely not an easy task. Not everyone can be an entrepreneur. It takes a certain kind of person to become a successful entrepreneur. You will make a lot of mistakes and face big disappointments in your journey. And that’s okay as long as you are ready to learn from your mistakes and effort to avoid them in the future. That’s how most entrepreneurs learn and grow. 

Once you are in the business game, you can’t afford to screw up constantly. You have to play it real smart to beat your competition and be mindful of some of these fatal entrepreneurial mistakes that can ruin your business. I wish you all the best! 

 

 

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