It is human to make mistakes, they say! Besides, we often learn from our failures…
But it can be very helpful to learn from the mistakes of others before making them your own.
So in order not to multiply mistakes while starting your business, anticipate the mistakes that many entrepreneurs make when starting up… without ever repeating them!
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1. Choose the Wrong Partner
Many entrepreneurs go out of business because of association with a bad partner.
In fact, we may think that by choosing our partner, business and working relationships will go well. This is not always the case!
So that everything goes as smoothly as possible, we advise you to communicate as much as possible with your future partner and, above all, define as soon as possible:
- distribution of shares to each individual,
- roles in the company,
- reaction in the event of death or illness of one of the partners,
- hours of work,
- long term goals, etc.
2. Ignore Instinct
Those who succeeded understood it very quickly. You have to listen to what your heart is telling you. Keeping your instincts in mind gives a broader perception of events and gives you more confidence in your decision making.
Trusting your gut doesn’t mean letting your emotions get the best of you. Negative emotions such as jealousy, doubt, and anger can torment even the most rational people, clouding their judgment and leading to poor decision-making.
Instead, focus on your deepest feelings.
3. Play It Safe
Great success comes only to the brave.
Successful people will try something new instead of making safe bets and living a boring life and failing.
Instead of focusing on the small things, focus on the big issues.
4. Refuse to change your mind
Tenacity is essential for success, but there is a difference between determination and having a strong attitude. Being stubborn and refusing to change your mind will make you a failure.
Learn to let go, even if it is painful. The faster you move, the less resources you waste.
5. Blaming Others
Blaming your competition instead of taking responsibility for your mistakes is disastrous. Taking responsibility for your failures will earn you the respect of others.
Sure, you need to pay attention to trends, but when you stop seeing your competitors as the enemy, you’ll try to improve on your weaknesses.
When faced with failure, refuse the victim mentality. This is a situation that symbolizes your desire to relinquish control and seek attention and avoid responsibility. Successful people will win and win against all odds.
6. Take Shortcuts
Attempting to skip a row is likely to result in failure. Achieving a big goal requires a lot of hard work and dedication.
Successful people quickly understand the importance of delayed gratification, and their determination to succeed far exceeds any immediate pleasure.
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7. Wants to please everyone
Trying to please everyone makes you less efficient at work. Instead, focus on primary customers who have clearly defined goals to avoid lying to themselves and others.
Success depends on knowing yourself and being able to accept your limitations. This will help you to be loyal and respectful and not have to pretend that you are not.
In trying to be someone else, you may find yourself doing something you’re not passionate about.
8. Don’t Ask for Help
First, successful entrepreneurs can be so stubborn that they don’t need any help. They think they can be successful on their own.
However, they quickly learn that a helping hand is always welcome! Especially if it comes from a professional with solid experience.
9. Don’t Be Afraid of Competition
Every entrepreneur inevitably has competitors around him, whether they are direct or indirect, it is undeniable.
Don’t forget them! As a young entrepreneur, you can forget about this “detail” and focus on the work that awaits you. But being attentive to your competitors must be a part of your routine so that you don’t get lost along the way.
To identify all your competitors without forgetting one, think about all the products that can replace your product to provide similar service. This is how you will find your indirect competitors.
It takes time to be successful in making your business profitable.
To do this, avoid focusing on trivial things or stumbling upon a preconceived idea. You will lose precious energy.
Successful entrepreneurs focus on what their business does best, and they strive to develop those habits.
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