4 things you need to stop doing as an entrepreneur
Being an entrepreneur is never an easy job. It requires twice the amount of dedication, hard work, and mental investment. But, entrepreneurs often end up doing several wrong things. These are professional and personal habits which they end up developing over a period of time. So if you are an entrepreneur, here are four things that you need to stop doing:
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Overwork and over stress yourself and your team
Over a period of time, entrepreneurs develop the habit of overworking. If you tend to burn the midnight oil, and have expectations that your team would too, you are mistaken my friend. These are wrong expectations. An entrepreneur’s over working and over stressful nature is something which their employees may not possess. Many employees tend to quit startup setups because they experience a burnout.
There are several reasons because of which an entrepreneur may experience a burnout and would end up transmitting the same on to its employees. Job demands, role conflict, role ambiguity, lack of resources, lack of decision making ability, etc are some of the most common reasons for a burnout. As an entrepreneur, it is vital to understand that overworking and over stressing yourself and your employees is only going to waste more man-hours and affect productivity.
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Focusing on too many things
Entrepreneurs have the special powers of constantly attempting to be superheroes. They tend to think that they can offer their 2 cents of knowledge to every department working towards their dream. This leads into focusing on to too many things. This habit often results in them being unable to offer their 100% to almost any of the tasks they put their hands in. An entrepreneur must understand that they must focus on departments in which they specialize, for the rest they can simply recruit and oversee. Focusing on too many things can also lead to entrepreneurial depression.
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Chasing money and random opportunities
At times, entrepreneurs start pursuing money and in the process forget the purpose of creating their startup. There is no quicker way to drown your enterprise than start chasing too many things. Entrepreneurs have a habit of being on the lookout to make money and also seek random opportunities but in the process they tend to forget about the task at hand. The sign of a good entrepreneur is their habit of being unshakable and focused.
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Taking your competition for granted
Consider this as a cardinal sin. Many entrepreneurs once they taste success tend to develop a habit of taking their competition for granted. We have witnessed far too many organizations collapse because they allowed their competitors to sneak in from the backdoor and take their position. This habit gets developed slowly but is surely disastrous. Even if you are the only one in your product category, never take your competition for granted.
If you possess all or any of these qualities, we hope this serves as an eye opener
