You may be interested in becoming an entrepreneur because you lost your
job, or because you have a great idea, or because you cannot find a job you
are interested in.
Regardless of the reason, however, you will find there is more
information available today concerning starting a business than the average
human being can consume in a lifetime. Standard advice includes:
- Prepare a solid business plan
- Have cash for at least six months
- Work with a good accountant and attorney
- Understand your market
- Know
your competition
- Have a marketable product or service
This is good advice indeed. But in our experience, business startup
success or failure involves more than adhering to these maxims. Here are the
things you need to pay attention to in order to avoid sabotaging your
business success.
10 Mistakes That Will Hurt Your Chances of Becoming a Successful
Entrepreneur
Entrepreneur Mistake #1: Letting fear immobilize you. We believe the
number 1 issue that affects the success of a new business is fear of
failure, fear of success, fear of criticism, fear of feeling unappreciated
and fear of thinking no one will like your product, your service or you.
Understand that fear can immobilize you. Learn to recognize it and deal with
it.
Entrepreneur Mistake #2: Failure to develop real relationships. Nothing
happens until a relationship is formed. No meeting, no sales opportunity, no
business. Take the time to build a relationship, and then you are ready to
sell.
Entrepreneur Mistake #3: Failure to respond quickly. The quicker you
respond, the more responsive you appear. E-mails not returned in days, voice
messages ignored, and proposals or sales agreements delayed show that you
don't care about your prospect's business. Forget the absurd advice that a
quick response makes you look eager or desperate for the business. It makes
you look - responsive.
Entrepreneur Mistake #4: Becoming a pusher. Nobody likes a pusher. So
when your buyer says "yes" - stop selling. And don't up-sell, which is
getting the buyer to buy more than they need. It's great for short-term
profits and terrible for a long-term relationship.
Entrepreneur Mistake #5: Quitting at no. Nobody likes rejection, but
sometimes we see it when it's not there. No is often an initial response to
someone the buyer doesn't know, not a conclusion. Or, it can come from a
gatekeeper whose job it is to say no.
Entrepreneur Mistake #6: Getting stuck in perfection. There is no such
thing as the perfect proposal, the perfect letter and the perfect response.
Good is often good enough unless you are dealing with life and death
situations, which most of us are not. The extra 20 percent you put into your
product, service, response is neither recognized nor appreciated by the
recipient. But the fact that it took you too long to respond is recognized
and not in a good way.
Entrepreneur Mistake #7: Wearing your personal beliefs on your sleeve. No
one cares about your opinions when you are in a sales situation. Your
political, social, sports beliefs should stay with you.
Entrepreneur Mistake #8: Lack of focus. When you are not focused on your
employees, clients and prospects it looks like you are not interested or
that you are overwhelmed. When there is a lack of focus in your
organization, it looks like a version of the fad of the month which quickly
blows morale as staff struggles to juggle changing priorities and new
initiatives.
Entrepreneur Mistake #9: No executive presence. Executive presence is not
about just looking the part. Executive presence is about being the part.
It's about managing your image thoughtfully and not artificially. Like it or
not, tired, overweight, out of shape and sloppy people who aren't aware of
current events and haven't read a book since high school or college present
a very different image than people who take care of themselves and are
intellectually curious.
Entrepreneur Mistake #10: Not showing gratitude. Becoming a success in
your business never happens by yourself. Along the way there are people who
share their advice, help you through the tough times, perhaps give you an
introduction. Don't forget them when you become successful. Gratitude has a
return.
These are very difficult economic times. Starting a new business can be
exhilarating and very rewarding - personally and professionally. Yes you
need a solid business plan, financing and a marketable product or service
with a strong and compelling value proposition. But you need more. And, you
need to start eliminating sabotaging behaviors that will kill your
transition from executive to entrepreneur right now.
Management Consultants and Business Performance Improvement
Specialists Tony Kubica and Sara Laforest have 50+ years of combined
experience in helping budding entrepreneurs accelerate their business growth
in record times. Now, they unveil the common, subtle and self-destructive
actions that will hurt your business performance. Get their free special
report: "Self-Sabotage in Business" now:
http://www.kubicalaforestconsulting.com/resources.php