Being an entrepreneur is really challenging. From thinking about ideas, sourcing capital to bring those ideas into reality, starting your business, growing your business, promotion, keeping your team in order and focused, and all other headaches that come as a result of saying ‘yes’ to entrepreneurship’s proposal.
And as a result of this complexity, entrepreneurs tend to be overwhelmed by a lot of information that they start to lose sights of some very fundamental things that would actually hold them longer and keep their heads in the game with the mindset of winning it big when problems start to arise.
This article would be addressing some mistakes that you should never make as an entrepreneur to have a smoother ride along the way.
1. Never focus on money
Yes, it’s the ultimate purpose of a business to produce money to sustain itself. But if that is your ultimate focus, or what you put your whole attention on, you will never go far, period!
Money has an uncanny way to keep us frustrated because you will never get to acquire a lot of it – specifically because you are focused on the wrong things. Are you focused on what goes into your bank account or what value you give out to someone out there? Make your adjustment and not only make money, but also find something so big that it drives you to do more work.
2. Don’t run purposeless
Behind every great business, there is a purpose. A lot of people are running blind, which isn’t their fault anyway. Being an entrepreneur could be overwhelming to the point where you just switch your focus from achieving your dreams to ‘just getting by.’ That is the most dangerous thing that happens to an entrepreneur – losing your vision as a result of your circumstances.
Have a purpose that genuinely changes people’s lives and always tell yourself that every morning and just before you retire at night. Never lose sight of your future – that is what would keep you in the game even when your challenges say no.
3. Don’t stop learning
Entrepreneurs are busy people. But some people have become too busy that they don’t have time to read books, attend seminars or network with like minds.
Understand that your mind directly influences your success or failure in business, so, it’s important that you keep it in the right frame. And you do that successfully when you surround yourself with those very things that you are very passionate about, which would go a long way in shaping your mind to think bigger and focused on what really matters – the game.
4. Don’t be under pressure to live big
The one thing that has killed more businesses than a lot of other factors is the word, ‘greed.’ You will break through a certain level from time to time, but the only thing that matters is what you do right after that happens. Smart people save more and invest more; greedy people want to buy the latest stuff and live big. Understand that you will never be rich if you don’t have control over how you spend or invest your money.
I read a story not too long ago about a man who won millions of dollars in a lottery. He partied and spent it all on smoking, women, and gambling. A few years later, he returned to collecting garbage. Think about it.
To get all these mistakes right, you need an absolutely incredible level of discipline and although it is difficult, it is achievable. If you find it difficult, think about it like a muscle, it only grows if you exercise it. It may start to be difficult, but you know that ultimately, your intended results start to surface. Keep your head in the game and don’t give in to challenges that raise its head.