Mistakes that entrepreneurs should avoid
This is the era of startups. Though most people want to start their own business, only some of them generally succeed.
This is because certain mistakes they commit hinder their success.
Here are the mistakes that should be avoided by the entrepreneurs to flourish in their business:
Reliance on ‘Jugaad’:
Most of the Indians come with innovative ways to obtain certain things which they call ‘jugaad’. It works well at the initial stages. But, entrepreneurs should not forget that jugaad is just like patchwork, but not the entire thing. It is not good to depend or rely too much on jugaad, and the involvement of the entrepreneurs in the business is a must to succeed in the business.
One-man show:
A one-man show may be fine when you start a business. But, to grow your business, you should have a team including marketing, sales, delivery, administration etc. It is not good to do all the things on your own as it is difficult for any single person to do all of them. Hence, hire a good team despite financial difficulties and improve your business.
Dependence on staff:
Hiring your staff and depending on them cannot alone fetch good results. As a business owner, you have to train them, create an environment to reach the set goals and watch the results. In a single word, get your staff to shadow you to achieve the desired results.
Ignoring the value of a business:
As an entrepreneur, you should not ignore the value of your business. You have to consider many things about this. Your idea should be viable for your investors and you should value their trust. You have to deliver great solutions to satisfy your customers. You have to evaluate yourself in the form of profits. Consider all these things and do it for the value of your business.
No difference between the entity and the entrepreneur:
Both entity and entrepreneur are different and you should know the difference. You have to value your work and pay yourself for the time you have invested in developing your business. Paying yourself is essential to achieve your goals. Many successful entrepreneurs do it and respect their dignity.
Photo by Varvara Grabova on Unsplash (Free for commercial use)
You may also like
Image Reference: https://unsplash.com/photos/NCSARCecw4U
Recent Posts
- India temporarily suspends postal services to the USUnder the new rules, all postal items sent to the US, regardless of value, will now be subject to customs duties.
- India clears deck for ₹45,000 Cr submarine deal under project 75IThe project is estimated to cost ₹45,000 crore. The submarines will be built in India by Mazagon Dock Shipbuilders Limited.
- DRDO successfully tests indigenous integrated air defence systemIndia took a major step forward in air defence capability as DRDO successfully conducted the maiden flight tests of the Integrated Air Defence Weapon System (IADWS) off the Odisha coast on Saturday. The system combines missiles and laser-based technologies for layered protection.
- India temporarily suspends postal services to the US
What’s new at WeRIndia.com
News from 700+ sources
-
PhonePe introduces a home insurance plan: Should you buy?
-
China’s share benchmark hits 10-year high: Here we decode why
-
How switching jobs impact your chances of getting personal loan
-
Uber, Ola have stopped bike taxi services in Karnataka again
-
RBI hints at policy measures to counter 50% US tariffs
-
Delhi Metro fare hike: DMRC raises prices starting today; check kilometre-wise list of new rates
-
WeRIndia – A News Aggregator
Visit werindia.com for all types of National | Business | World | Politics | Entertainment | Health related news and much more..
Leave a Reply