If you are afraid to put yourself in front of your potential clients by bringing your goods to the market you have already failed and if you need investors but are afraid they will reject you it will hamper your business’ growth and development. If you are risk averse you should probably avoid running a business altogether.
If you have to show off and express your success through luxuries and other symbols of status it will cost you resources you could have and probably should have invested in meeting the needs of your clients and this can cause your business to fail.
If you feel you are too important to deal with and work with the simpler tasks of your business operation and therefore hire people to do this work for you it will consume resources you could have and should have used to build the foundation of your business. You will also miss out on important knowledge about your business, which increase the likelihood of you making mistakes and these mistakes can cost you clients, effectiveness and efficiency.
Lack Of Focus
Entrepreneurs who cannot decide on what to focus on but have side jobs, continuously start new projects and launch new products and services despite not yet making money on any of them will likely burn the capital they have before having operational profits and therefore they might risk bankruptcy due to a very bad cash flow. Doing everything half good is exactly the same as doing nothing really good at all.
Need For Life Balance
If you want to become a successful entrepreneur you can forget about social balance and should not feel about forgetting it. If long vacations sleep-in mornings, weekends at the golf course, culture events with your partner, watching your children or other distractions are important for you to function as a person you are not an entrepreneur. All these joyful activities that makes a life complete are not for entrepreneurs. Entrepreneurs don’t live complete and balanced lives.
Lack Of Endurance
It takes an enormous effort and usually much longer time than initially expected to build a successful business. The stories about immediate success that have become urban legends are based on cases so rare that there is a greater chance of becoming rich by buying a lottery ticket. Entrepreneurs who are unwilling or unable to work hard for a long time even when it feels like the business is about to go under are not likely to become successful but rather likely to lose speed and succumb due to inactivity and exhaustion.
Founder of Fryday, An International Network Of Professionals
Sign-up with Fryday today not to miss any opportunities!
Did you enjoy this article? There are plenty of more useful articles on how to succeed in business at Fryday’s Business Blog. Fryday’s main goal is to provide its members with professional networking and ideas and knowledge related to business.
You are also more than welcome to post your articles at Fryday’s Business Blog.
For blogging, partnerships or other questions you can contact us at email@example.com.
Read Fryday’s expert-advice and inspirational articles:
Fryday is organizing several types of networking events and provide social and professional networking in cities across the world.
Fryday is constantly looking for Representatives in cities and countries across the world. Learn more about working with Fryday and how you can become a professional networking- and event management-superstar here. You can also contact us at firstname.lastname@example.org for more information.