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How To Avoid These 7 Deadly Entrepreneurial Sins

How To Avoid These 7 Deadly Entrepreneurial Sins

The life of an entrepreneur is full of excitement, action, and fun. It has a fast pace and it always changes. It also entails making a lot of choices, leading either to success and euphoria or failure and depression. Debauchery may appear in the life of anyone involved in entrepreneurship, either genuinely or by role.

Below, you will find the traps that most commonly avert leaders from reaching their goals. I’ve also included advice on how you can shield yourself against these attractions.

1. Lust

There is too much appeal in the sirens of success. The dream of money, glory, sports cars, and luxurious mansions can deplete you of energy, focus, and resources that are crucial in the business-building process. When entrepreneurs fall in the trap of lust, they overindulge in acquiring status symbols, depriving their still-vulnerable business of much-needed money and time, thereby compromising the whole operation.

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Avoid sinning by restraining yourself from personal rewards until your business reaches a predetermined milestone. Maintain the goal of creating an enduring profitable business in your sights, with capital reserves that surpass the fixed overhead of one year. After that, there will be lots of cash available for personal rewards, as well as enough relaxation time to go with it.

2. Gluttony

Although there is nothing wrong with having an appetite for a growing business, to be successful, companies should develop and follow a moderated and controlled pattern. Entrepreneurs that fall victim to gluttony will bite off more than they can chew, prematurely undermining their own performance and, ultimately, their reputation.

Avoid sinning by pursuing sensible growth targets. Avoid going for sales that cannot be supported by your infrastructure. To achieve long-lasting growth, conquer the domains of reputation and service first.

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3. Greed

Maximizing your revenues is of great importance, but be careful not to compromise neither your company and reputation nor the industry. Greedy entrepreneurs will let immorality guide their decisions just to achieve profits by manipulating their marketing, prices, and staff accordingly. In the long run, they will only damage their own reputation and business longevity.

Avoid sinning by planning well ahead. Become known in the market for doing justice to your personnel, your clients, and the industry (not excluding the competition), and you’ll find in them valuable allies towards development and profitability instead of sworn enemies that are always looking to take you out.

4. Sloth

People with a successful history in entrepreneurship are well aware that hard work is not optional and true, long-lasting success doesn’t come overnight. Sloth-seduced entrepreneurs will make clumsy choices, including unproven marketing strategies and business models, unnecessarily upping the risk for everyone involved as well as wasting precious resources.

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Avoid sinning by thoroughly preparing beforehand, managing eagerness, and non-stop testing consistently before putting other people’s money and names on the line. Never forget that it takes more than just your passion to transform any idea into a good one.

5. Wrath

No true entrepreneur is passionless, but being overly passionate almost always leads to unreasonable choices and absurd behavior. When wrath takes hold, entrepreneurs will be driven by unbound emotion, resulting in anger, fear, and devastation, both on the inside and the outside.

Avoid sinning by keeping a results-oriented focus. Be self-aware and gauge your inner fire to the desired level, remaining a gracious leader.

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6. Envy

Measuring yourself against competition is generally a good thing. But there is no need to become overly sensitive whenever your competitors strike a win, otherwise your progress will start lagging behind. Envious entrepreneurs will get caught in a vicious cycle of fighting and setting obstacles to their competitors, thereby deterring their own chances of growing and improving their performance.

Avoid sinning by focusing on your track record. Sometimes you will win, sometimes you will lose by someone performing better than you. Entrepreneurship, however, is not a sprint but a marathon. In the end, the winner will be the one who invests all of his or her energy towards their own performance, avoiding any distractions.

7. Pride

Feeding your ego, when done in moderation, may help during the business-building process. However, being overly proud will hide the truth from your eyes. Entrepreneurs blinded by pride will stand by their ideas no matter what, turning down any outside input just to maintain their ego.

Avoid sinning by maintaining an open learning culture. Concentrate on success rather than self-righteousness. Success tends to be enjoyed more when many people have worked to achieve it.

Featured photo credit: Nanagyei via imcreator.com

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How to Achieve Goals and Increase Your Chance of Success

How to Achieve Goals and Increase Your Chance of Success

Does it ever feel like the things you want to accomplish always end up on the back burner? If the answer to that question is “yes,” you’re not alone. Only about 33% of people consistently work toward their goals. In some cases, their goals may seem too lofty to accomplish, or else they aren’t sure how to make a plan for them.

If you don’t come up with concrete steps to take toward your goals, they’ll remain dreams. There’s nothing wrong with being a dreamer, but being able to turn your dreams into goals you can realize will help you lead a happier and more fulfilling life.

Luckily, you can realize almost any dream when you harness the right goal-setting methods.

In this article, I’ll show you how to achieve goals and get closer you success.

1. Break your dreams down into specific and measurable steps

We couldn’t talk about goal-setting without mentioning SMART goals.

SMART goals are specific, measurable, assignable, realistic, and time-related.

Specific and measurable steps are so important because if we don’t know what our target it, how can we ever hit it?

Take all those beautiful dreams you have for yourself and make them into things you can actually do. If you want to be an entrepreneur, for example, a step toward realizing your dream might be researching what you’ll need to start your business.

Find out more tips about utilizing SMART goals here:

How to Use SMART Goal to Become Highly Successful in Life

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2. Have at least one clearly defined goal for every interest and role in your life

It’s so easy to become complacent or stagnate. We often think that our careers are the only places where we need to set goals, but we aren’t only what we do.

To make the most of your life, take the approach that you’re always learning and growing in everything you do. Anything worth doing is worth doing well after all.

Set goals whether you’re sponsoring an activity for your child, taking up guitar lessons or trying to prove your worth at work.

You’ll notice that this approach forces you to constantly develop new skills. It can also be fulfilling to put more focus and value into all areas of your life— not just the ones related to our careers.

3. Align your goals with your life’s mission, purpose and passion

Take the opportunity to do some soul-searching. What is it that you want to do with this precious life of yours?

Anything that conflicts with your life’s purpose is bound to cause discontent. Staying in a bad relationship, doing a job that goes against your values, or maintaining the status quo just because it’s comfortable are not options for you.

Thinking about your goals in this way can help you eliminate things in your life that don’t serve you. This frees up mental space that you can use to do the things you care about the most.

Many of us struggle to find the time to work on our goals, but this strategy enables you to make more time.

4. Create goals that ignite your spirit and inspire you to take action

If you can’t be fired up about your goals from the start, they might not be good goals for you.

The road to success is often tough. You’re going to have times when you might feel tired or discouraged.

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You need to feel inspired enough that you’ll be able to overcome obstacles as you encounter them.

If what you’re doing motivates you to be the greatest version of yourself, you’ll be much more resilient.

5. Write down all your goals in specific, measurable detail

This is your road map for what success will look like. The more you define what you want the finished product to be, the greater the chance that you’ll reach that vision.

When you write down your goals, you’re creating a document that you can revisit to make sure you’re on track.

When you’re in the middle of trying to achieve a big goal, it can be hard to see what’s working for you. The things you write in this step will help you stay on-message as you take your goals out of your mind and into the real world.

Don’t just write down your goals and stash them away in a folder somewhere. Take the extra step to put them somewhere where you’ll see them.[1]

If you have too many goals to post on your desk, write a summary or choose one or two steps to work on for the day. Just seeing them will keep them in the front of your mind.

6. Commit to hitting each of your targets without exception

You wouldn’t have created the target if you didn’t think it was necessary. Hold yourself accountable for taking the steps to succeed.

You can always adapt your strategy or break your targets into smaller steps if you find that they aren’t attainable as you originally wrote them.

Hitting even the smallest target is cause for a celebration. It’s a step in the positive direction. Your success will make you crave more success.

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We often make excuses when we get tired or overwhelmed. Take away the option to make excuses. You will only be satisfied with the best effort from yourself.

7. Share your goals with others to motivate each other

There’s something so powerful about people sharing their goals and dreams with one another. Doing so gives voice to some part of us that could remain hidden (and therefore never be accomplished).

When other people know about your goals, they can cheer you on and hold you accountable. When people share their vision with you, you can do the same for them.

This strategy is particularly beneficial when you’re trying to develop healthy habits. Post about your workout on social media, or do a healthy eating challenge with your best friend. You’ll be less likely to slack when temptation arises, and you’ll probably encourage someone else to reach for their goals too.

8. Set a series of daily, weekly and long-term goals, complete with starting times and deadlines

Many goals never reach realization simply because the goal-setter doesn’t check their progress. People tend to forget what they set out to do, or their goal gets crowded out by other obligations.

Forcing yourself to revisit your goals at regular intervals breaks them into smaller steps and it reminds you to think about them.

Giving yourself regular deadlines for smaller tasks related to your goals also helps you reflect on your strategy. You’ll figure out what works for you, whether your timeline is realistic, and whether or not you need additional help to stay on track.

In addition, celebrating small wins helps you stay motivated. Here’s how:

How To Celebrate Small Wins To Achieve Big Goals

9. Take 10 minutes every day to imagine how great it will feel to achieve your goals

Visualization is such a powerful tool. Some of the most successful athletes, celebrities and business people take time each day to think about how success looks and feels for them.[2] Imagining that feeling of satisfaction can be a great motivator.

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When you do meet your goals, take some time to be grateful. Thank yourself for showing up and doing the work. Be grateful when the stars align properly to help you advance to the next step.

It’s not just getting to the destination of your goals that matters. How you take the journey is important too.

10. Take an action step toward reaching your goals every day

Your goals can easily get buried in the hustle and the bustle. Even the smallest step in the right direction is still moving you forward.

Keep chipping away at the work every day and before long, you’ll start to see those dreams come to life.

Maybe you didn’t start your business today but you designed the logo that’s going to go on your website and business cards. Doing that task well is going to help you so much in the long run.

Concrete actions day by day draw your dreams out of obscurity and into the realm of possibility.

Change begins today

Dreams can inspire and overwhelm us. By turning our dreams into goals that we can work toward, we increase our chances of success. Things that once seemed impossible are suddenly within reach.

It’s time to start turning your dreams into goals and your goals into realities.

Featured photo credit: Pexels via pexels.com

Reference

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