When you start a business, you rarely feel safe in action. In fact, many times you will make decisions feeling completely clueless. One of the benefits of entrepreneurship is that although no two companies are alike, many of them face the same problems. This is true regardless of the industry or market size you are in. Therefore, there are some basic mistakes that every entrepreneur should be aware of. Cameron Chell Calgary is one of the successful entrepreneurs who deliberately help other leaders for improving their leadership qualities and also guides them on how to stay motivated at the workplace. Cameron Chell Calgary is the CEO of Business Instincts Group which helps small businesses to grow.
Here are four of the most common mistakes entrepreneurs make:
Hiring people only on the basis of authority:
“Honesty and integrity are by far the most important assets of an entrepreneur,” said Zig Ziglar, an American author, salesman, and motivational speaker.
When you’re just starting out, it’s easy to get excited whFour Most Common Mistakes Entrepreneurs Makeen someone wants to join your business. Yet many employers ignore the cost of hiring too soon. This is most often the case when you come across a resume from an Ivy League school or someone with a lot of experience. But just because they come from a great background doesn’t mean they are good for your business.
Don’t just sell, find out how to add value:
One of the hard parts of entrepreneurship is forcing yourself to look beyond the numbers. While the ability to get customers is very important, in the early stages you should take the time to understand the value you can offer. Becoming conversant with landline customers without first confirming your business model is a recipe for disaster. We see this all the time with companies that raise big funds and then fail. Why do many of these startups close even though the capital has been raised? Because they didn’t take the time to prove their business model before trying to scale it.
No customer feedback was sought:
When you start your own business, you usually earn an increasing CEO title. But many entrepreneurs forget that even though their title is CEO, they are starting from scratch. And even in established companies, CEOs are still hired by their clients.
There are still many startups that have not received feedback from buyers. The main reason for this is that it takes time and a bit of ego to listen to your customers. You have to be willing to admit that you were wrong and treat your business as a science experiment. Always remember that the customer, not you, is the visionary of your business.
Afraid to fail:
Many companies have great products and teams but fail to implement them. This often happens because of the fear of failure. The true entrepreneur is not the one who has all the answers, but the one who launches the rocket and pulls it up. You shouldn’t rush into decisions, but there are times when you just need to look inside yourself. If it’s one of those moments, make a decision, live the consequences, and move on. Failure is just a part of being successful.