Entrepreneurship is far from an exact science. It probably is the furthest thing from it. Don’t believe it? Just ask any entrepreneur! There is one term in the scientific world that may describe us though, an AMOEBA…single cell (entrepreneurs are usually a one man army starting out) and they have to constantly try to change and duplicate themselves to survive as do entrepreneurs. The commonality of change is a dish served daily to amoebas and entrepreneurs. The last thing entrepreneurs should be resistant to is change. With that being said here are 5 mistakes entrepreneurs should avoid making.   

  1. Staying in bad business relationships too long: Typically a bad deal will not all of a sudden become a good deal no matter how long you delay making the decision to cut the cord and move on.
  2. Becoming psychologically married to passion not profit: We all have our entrepreneurial passions and have heard the cliché’ that we should do something we love and we will never work another day.  The rest of that should say if we pick the wrong passion business over the right profit business we may end getting to know the inside of a bankruptcy court all too well. Be smart about the economy we are in. Insurance may not be sexy but it may make you more money than a smoothie franchise (no offense smoothie people).
  3. Not adhering to the open door concept: We are reluctant to move on to new ventures when one does not work out/fails. We need to move with quickness because when one door closes another one opens. It is not a failure – it is a lesson. Your change of life moment is still waiting for you – don’t delay.
  4. Forgetting how important you are: Entrepreneurs have been and will continue to be the driving force in the new economy. Always think on a Nationwide/Global scale. This is necessary to grow as far and wide as you are willing to take your company.
  5. Forgetting that the snooze button is not your friend: There are 526,000 minutes in a year and 590 people die per second! You must not oversleep. If you are an entrepreneur, the work will not do itself. You must put things in motion daily if you are to reach the success level you want. People say they want things, but the question remains how hard and smart are they willing to work? Is your “why” BIG enough to prevent you from hitting the snooze button?

These are just a few things to avoid and just like the amoeba we have to grow, change and adapt to our business environment or we risk not surviving at all.

Author: KT Jones, Business owner/ Author 80 pound chimp or 800 pound Gorilla which one RU? (Marketing guide to business and life)