#8 Mistakes You Should Avoid As An Entrepreneur In Your First Year
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Entrepreneurship is about inventing, designing, launching a new business, which is more often than not a small business, offering a product, process or service for sale or hire.
The people who create these businesses are Entrepreneurs.
Now, when you are in your first year and start earning money, you could make some mistakes that could lead to your fall. Go through these eight mistakes that can be done and you should avoid doing that.
Almost Quitting: You couldn't, you almost believe that entrepreneurship is not for you. You almost believe that what it takes to be an entrepreneur, you don't have that. You almost believe that.
This is because people will try to halt you or distract you from your track.
This is because of their fear of losing or suspicion. Now, the second mistake is something that you should categorically avoid.
Trying to Become CEO too Early
In your early phase of Entrepreneurship, you must have to work as a salesman. With Microsoft, the only name that comes in your mind is Bill Gates.
When you think of Amazon, the only name that strikes is Jeffrey Preston Bezos. And if Apple, then Steve Jobs. They all sell products or services. But what if they don't have as many costumers, as they have?
Certainly, your emphasis should cover the sales conversion, as sales is directly proportional to success. They all were salesman first. You should focus on your sales first before running after profits.
Trying to Take Too Many Tips
As people always tend to suggest you as per their dogma, how they have worked, how they have managed gears in their own way. And, there is nothing wrong in that, nor right. It is their choice, their way.
Yours can be different.
Taking suggestions from too many people would lead you to revise your decisions and might lead to your failure. Think over in your mind and take decisions on your own.
Now, thefourth mistakethat you should avoid is to understand the difference betweenForcing & Influencing
To directly increase your business, you need to increase your sales volume. But, sometimes we forced the things up to our costumers instead of influencing them to buy our products.
Now, influencing costumers by your products quality/speciality would prove your product later and there is more than ninety percent chance of getting the next order soon.
Particularly, when you force someone for your sake to get your product sold. It may not benefit you for long time.
Furthermore, your next step on which could so a mistake is :
Not Knowing How to Take Advice
Do you seriously think that by not taking an advice from your co-workers would lead to your success?
The answer would be a NO. Because, when you don't listen to your juniors/co-workers, they do not feel that you really need them as a partner.
Sometimes, when working under someone, you might not like their way/method or idea. Though, you have a better idea. But knowing that person would not listen to your suggestion you did not let yourself speak out because of the fear. It is important to bring out the healthy relationship between you and your co-workers/partners/juniors.
Hence, maintaining a healthy relationship between you and your co-workers is a must thing.
Living in a Dream too Early
Being an entrepreneur, your first year is your future year. This year decides your second year.
Certainly, after spending few good months of your first year and when you have earned a pint-sized of money you get excited and you started spending it all in parties, clubs, and everything else that you have dreamt of.
But, that definitely is not a good idea because you need a lot of money to invest in your future projects.Because this is the way how an Entrepreneur works.
And, it is absolutelygood to invest money in business rather than started "living in your dreamy life too early"
Mistake 7 :
Trying to Sell Too Many Products as an Entrepreneur:
As an Entrepreneur, you may not have a good profit in your early age. But you have to stick on a single/two products.
Because, when you run along too many products in your initial time you get diverted and none of your product would get your expected time and energy.
Therefore, you might face a loss. Better, being sticky and focussed on that. Don't be like this, do and that, blah, blah products.
Thinking you Knew it All
This mistake is very often. You don't have to be over-confident of what you are doing or your future plans.
Rather, you should be confident enough to work on your present and future projects. But, at the same time you must be careful that you should not lose your confidence. You should also understand the difference between Confidence and over-confidence.
Confidence is the good trait to have where a person is sure about his course of action or activity. While on the other hand, over-confidence is excessive belief in their own abilities ignoring the fact that their decision can be wrong too.