The entrepreneurial universe is multi-faceted and extremely fast paced. It is not exactly unheard of for beginners to find themselves lost and disoriented as they jump head first into the race. Often, as brilliant as the concept and framework of a start-up may be, its effectiveness isn’t reflected as desired.
Here is what you’re probably doing wrong and how to tackle the matter:
- Trying to be perfect – The moment you decide to delve into a new business venture, you’re a part of the rat race. It can be very stressful to work in the shadow of bigger names and potential competitors. Developing a sense of haste and making impulsive decisions in order to get ahead is the most common mistake that new entrepreneurs make. An unnecessarily rushed process like that tends to create major discrepancies in terms of functionality, both immediately and in the long run. The Hare-Tortoise theory works perfectly as a solution. If your foundation is strong, you are bound to achieve your entrepreneurial goals. There is no need for too much haste to be perfect.
- Overworking your staff – There’s not much a person can achieve post a certain hour of the day. You may work 15 hour days yourself and expect the same from your colleagues, but the fact of the matter remains that there are only few productive and useful hours in a day. The highest level of productivity is only achievable through a well-structured work-life balance. Being burned-out yourself or having to communicate with sleep deprived employees could be more frustrating than one loose end here or there. As an entrepreneur, time management is your most imperative virtue.
- Lack of initiative – Picture yourself as an author. You have a host of ideas that you want to put down on paper, but you seem to have trouble knowing where to begin or how to phrase these concepts in the first place. While running a business or investing your time and capital into a new venture, you’re likely to find yourself stuck in a similar state of inertia. Your lack of initiative may not necessarily emerge from negligence or the lack of will, but from the sheer anxiety of not knowing what to do next and wanting to do everything at once. This is when you regroup. Identify the obstacles, whether they are monetary, operational or something else entirely – then attack the situation from all possible perspectives.
- Fear and failure to follow through – The prospect of failure tends to put the most self-assured people in a state of fear. Limiting one’s self at a juncture like that is a natural instinct. The idea is to power through – set your deadlines and follow through on deals no matter how convoluted. In terms of business, the only concrete answer to fear is good planning.
- Succumbing to stereotypes and precedents – Falling victim to stereotypes and letting them affect the company’s policy and output. Medieval ideas such as basing work hours and salaries on gender roles and such do not stand to be beneficial for anyone in the 21st The only point of comparison among clients and employees ought to be reliability and efficiency as opposed to what is deemed ‘appropriate.’
Being a winner in the business world is in your hands, entirely. There is always a solution for the roadblocks one may face while trying to put together a successful business. Metropolis Healthcare, for example prides itself in tackling stereotypes and finding a way to work around them, building a successful and globally relevant foundation in the process.