The Biggest Mistakes Entrepreneurs Make When Starting Up
When you go out there with a goal in mind you are utterly excited and overly optimistic! You run full-force into the work and grind your heart out.
After a couple of weeks you encounter the first problems and the progress slows down tremendously. Sooner or later your progress seems to be almost non-existent.
This is the point where most people surrender their vision and their dream.
Entrepreneurs often think that their idea is a sure-fire hit and they act like it to expecting the customers to come to them and expecting to have an easy ride.
This is why entrepreneurs make many mistakes, simply because of their overly optimistic view of how quickly they will grow:
- They do not invest money in marketing and getting the name of their product out there. Because, after all, a good product will always be noticed by the masses… right?
- They spend time doing only the fun things and ignore most problems. Their ideas are so good that most of the problems now will not be problems “once they made some money”.
- They relax because they believe too much in their product. Taking sundays and holidays off is normal and everyone does it. Besides, this idea is going to be a sure-hit!
To counteract this problem you need to follow a small process:
1. Make a good guess about how long it will take you to be self-sufficient with your business.
2. Make the same guess with how many hours of work that would take you.
At this point you should have an exact number of hours it will take you and a date by which you believe you will be self-sufficient.
3. Triple the hours and put the date 3 times as far into the future… at least.
Now you have a much more accurate idea about when you will have a running business and how much work it will actually take.
The last problem that younger entrepreneurs encounter with this afterward is that they make that new date their goal.
By doing that you remove the pressure off yourself and it turns out just like when you were in high school not studying for the test that is so far out in the future.
You will not work hard for your goal either.
What you need is a deeply rooted certainty that you will have a business NO MATTER HOW LONG IT TAKES and the desire to get it as soon as possible.
The work will be hard, and there will be a lot to do, but the ones that make it as entrepreneurs are the ones that do not give up and keep pushing forward until they succeed with a business.