Emma Soto is an entrepreneur. She is a freelance writer, currently in university and looking forward to obtaining a degree in advertising. Emma even hosts a school radio show during her downtime.
It takes a lot of motivation, drive, and perseverance to be an entrepreneur in today’s digital marketplace. Most modern entrepreneurs have a level of ambition that’s simply unmatched in most individuals. However, that doesn’t mean that entrepreneurs are perfect or that they’re immune to having flaws. Below, we’re looking at the most common bad habits of new entrepreneurs and how you can avoid making these easily avoidable mistakes.
Expecting Too Much, Too Soon
As an entrepreneur, it’s evident that you have big dreams and a vision that you want to bring to life, and there’s nothing wrong with that! However, you must realise it will take time, effort, and dedication to see things through. Expecting massive success in a short period is by far one of the most common and most detrimental bad habits you can have as a new entrepreneur. It even took years for successful entrepreneurs like Elon Musk, Steve Jobs, and Bill Gates to make their entrepreneurial dreams come true. So, the next time you’re upset because you do not see progress as quickly as you’d like, remember; Rome wasn’t built in a day, and neither will your entrepreneurial success! Give yourself the time, space and grace to grow, but don’t expect it by tomorrow morning!
Making Unrealistic Promises
Confidence is a great asset to have as an entrepreneur! However, being overly confident and making unrealistic promises is another of the most common mistakes you can make when starting as an entrepreneur. Whether you promise unrealistic production volumes, work output, or impossible deadlines, promising more than you can handle is a sure-fire way to get you into trouble with your clients and customers. Make sure to be as confident as you can be, but don’t make commitments that you won’t be able to follow through. Just like the moral from the old fable about the tortoise and the hare goes, slow and steady wins the race.
As a new entrepreneur, there’s no doubt in my mind that you’ve got the drive and ambition to take on the entire world. However, trying to do everything independently without asking for help or delegating is another of the most common bad habits of new entrepreneurs. It’s also another sure-fire way to cause yourself to fall behind on your deadlines, fall short on your commitments, and land you in hot water with your customers. When needed, use freelance sites like Upwork or Fiverr to find and screen skilled talent to help you out on your most important projects. You can also use free online tools to help you create logos, business cards, etc., for your brand. However, here at Black Label UK, we would always recommend utilising the services of a professional designer or agency for any design work. The results will always outweigh what is achievable using free design tools.
Being Scared Of Failure
It’s evident that, as an entrepreneur, you want nothing more in life than to succeed with your new business ventures. However, you need to realise that entrepreneurial success requires risk. Whether it’s money, your reputation, or your time, you’re going to need to ante up if you want to reap the rewards of entrepreneurship. Far too often, entrepreneurs avoid taking significant risks because they’re afraid of failure. However, it’s those significant risks that have the opportunity to benefit their businesses the most!
Forgetting To Have A Life
Finally, the fifth and final most common bad habit of a new entrepreneur is focusing so much on your work that you forget everything else. No matter how invested in your business you may be, it’s crucially important to remember that you have friends and family members, hobbies and interests outside your business life. As an entrepreneur, your business is going to require a large portion of your focus. However, it’s essential to remember the things that matter most, like having a life outside your work!
Mae Keller wrote this guest blog for Black Label UK.