5 Mistakes to Avoid as an Entrepreneur

1. Chasing the wrong success
If you are not careful, you can fall into the trap of believing that certain material items make you “successful.” That a certain lifestyle is what success looks like. Often, people try to buy their way to success and happiness, only to find out that they don’t even want what they were pursuing.
To conquer this trap, make sure to think about and write down what success means in your perfect world. Be conscious about what you are aiming at, and take consistent steps to reach it.

2. Improper communication
It is comfortable to feel confident and assume that you are communicating properly – with employees, contractors and mentors – but the bottom line is that many of us don’t. What you intend to say, and the impact you intend to make, when communicating with staff, for example, may not be the right words or have the right impact at all.

To avoid this mistake, make sure to speak using facts, leaving out the emotion those facts may invoke. Have your employees take personality tests, so you know ahead of time how they will communicate. They may need more detail from you than you normally communicate – or less – but knowing is the first step.

3. Poor 'servant leadership’
“Servant leadership” is a buzzword right now; however, many business owners don’t understand what it entails. Servant leadership means not allowing others to walk all over you. It is not about creating an environment of dependency on you. Often, subservient leaders are ones that need others to need and rely on them.

To solve this pitfall, you need to practice true servant leadership. Servant leadership means providing an environment of service. It means doing what is best for your employees, which might include firing them. Serving your staff well requires setting them up for success by training them properly and holding them to a high standard.

4. The customer is always right
This is a common misconception that can leave you worn out and exhausted. Operating your business as if every customer is “right” can confuse your message and train your customers how to treat you and your staff. You may end up serving a select minority instead of a majority.
Instead of the philosophy that the customer is always right, take on the mindset that the customer is always honored. Customers should be treated with honor and respect, but sometimes they are just wrong. So, be clear on who your target is and serve that person well.

5. Chasing money instead of freedom
When money is tight, it is a breeze to think that money and freedom are synonymous. This can lead business owners down the wrong path and often put a lid on their income. Chasing money can lead to an unlived life, getting us to chase the wrong things. Money should be a byproduct, not the focus.
Make choices in the long term, toward freedom. Train yourself out of a job, and your income will have no bounds. Focus on short-term monetary gains, and you will never have true freedom. Instead, focus on the strength and growth of your business, and you will have money. You will also experience freedom and finances through growth and proper training.

Avoiding these pitfalls will have you cruising toward success. So, move with proper purpose. You may need to reevaluate and adjust often, because being a few degrees off in the beginning leaves you open to the risk of being miles off in the end. But make the journey. And be blessed on your journey.

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Nice one…

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great advice

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I agree, except the last one.

:see_no_evil: I love money.

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Good and perfect piece for great entrepreneurial minds.
Thanks so much

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You are funny.
Though I know that you are partly joking.

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Nice one. I love this line: customers are honoured and not always right.

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great!!

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concentrate on creating values in your business instead of chasing profits… cos when your business starts to solve peoples problems efficiently then, that is when you know you are going home with money.

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Very helpful.

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Thank you Jean. Your contributions are very real and many entrepreneurs are get trapped in the mistakes you have highlighted.

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Powerful one there.Freedom is my portion in Jesus name

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Servant leadership also entail leadership by example.
Some leaders think serving instructions alone is enough to drive employees participation or responsibility. it requires practical leadership by ‘doing it yourself’ sometimes. You need to make your employees understand that you also have the skill to do certain things, make them understand the business can still thrive without any single individual so that complacency would be discouraged.
Sometimes, what you do is what employees sees and remember to apply by emulating what precedent you may have set for them to follow.
Just giving instructions is not enough to motivate your workers.

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Wow thanks so much for the information, actually I was always disturbed by the saying of customer is always right…I understand how to go about it

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Awesome!

Thanks for the advice. Posts like this we all need

nice one

Very useful thks

Thanks for the advices :slightly_smiling_face:

Thanks a lot.