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20 Common Entrepreneurial Mistakes To Avoid

20 Common Entrepreneurial Mistakes To Avoid

Building a business from scratch is definitely not an easy task. As an entrepreneur, you will make a lot of mistakes and face failures along the way — not a big deal as long as you are ready to learn from your mistakes and try to avoid them in the future. That’s how most entrepreneurs learn and grow. But once you are in the business game, you can’t afford to make blunders constantly. You have to play real smart to win a competitive edge over others and for that you must be aware of some fatal entrepreneurial mistakes that can ruin your business!

1. Trying To Be A Know-It-All

Never play a know-it-all, especially if you have just stepped into the business world. Why? Simply because you are not! Running a business is all about learning and gaining knowledge. It’s really not possible to keep up with the dynamically evolving market, if you don’t try to learn. So whether you have experience of doing business or you are a startup, make the most of every opportunity that helps you broaden your vision.

2. Starting The Business Without Infrastructure

It’s true that now you can start your own business without any setup — but definitely not without an infrastructure. Planning is probably the most important aspect that lays a strong foundation for your business to grow — and if you are not focusing on the infrastructure if your business, you are making a terrible mistake!

3. Choosing The Wrong Partner

First of all you don’t necessarily need a co-founder, if you are starting your business on a small scale. With strategic planning and organization, you can handle your business yourself too. But if you think that its too big of a responsibility for you to handle alone and you need a business partner, then be really careful in picking the co-founder. Make sure that the co-founder is mentally compatible with you — you need someone intelligent to make important decisions, so choose someone who can compliment your entrepreneurial skills and support your ideas.

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4. Focusing On Growth Only

Your business can’t grow, if your strategies are not dynamic. As an entrepreneur, you have to think in multiple directions while making decisions. If you are focusing on business growth only, and not on the quality of services, it will impact your business eventually. Achieving a balance between growth and quality is the key to success in business.

5. Expecting Customers To Spot You

Do you really expect customers to find and follow you when the market is already buzzing with so many entrepreneurs offering promising services? Definitely not! If you want your customer base to expand, you will have to be where your customers are.

6. Underestimating The Importance Of Technology

Regardless of the nature of your business, you must be technology savvy if you want to be a successful entrepreneur. That’s because today technology is everywhere, and you can’t keep up with the competition if you don’t make the most of technology.

7. Obsessing Over Competition

Acquiring success as an entrepreneur is not just about worrying about the stiff competition in the market. Of course it matters, but you have to focus in other important aspects too, like self-evaluation and understanding the mindset of customers. As Mark Cuban once said, “Focus on building the best possible business. If you are great, people will notice and opportunities will appear.”

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8. Financial Mismanagement

If you are not managing your finances, your business can crash down like a house of cards. You have to spend really wisely — hiring a financial advisor can be really helpful in avoiding financial blunders.

9. Expanding Without Planning

Expanding the business without any planning is another common mistake entrepreneurs often make. The “Jack of all, Master of none” policy never works in business. Expand your business only when you are financially stable and have a strategic plan.

10. Not Hiring Competent Employees

Your success heavily depends on the competence of your employees. So put in your best efforts to pick the best fit for your business.

11. Ignoring Customer’s Response

One way to evaluate your business is asking customers to give feedback. Often entrepreneurs don’t understand the impotence of customer’s response, but it can really help you spot your weaknesses and understand what customers expect from you.

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12. Missing Viable Investment Opportunities

Entrepreneurs who wait for the “right time” to invest don’t stay long in the business game. Opportunities will not knock on your door — you will have to spot them and make the most of all viable opportunities.

13. Denying Professional Help

If you need help, admit it! Learning is an ongoing process and there is nothing bad in seeking professional help. Entrepreneurs,who deny help and try to resolve issues on their own end up making blunders.

14. Not Keeping Up With Market Trends

You don’t want to be left out, do you? The marketing is changing dynamically and you can only keep up with if you stay updated about current trends. Elon Musk offers this great advice: “Constantly think about how you could be doing things better and keep questioning yourself.”

15. Investing Too Much On Workplace Setup

Invest wisely: wasting your capital on workplace setup when you don’t even need it, can affect your bottom line negatively.

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16. Not Spotting Target Audience

You must know your target audience to reach them. You can’t communicate and form a bond with your customers unless you understand their mindset and for that you need to know who your target audience is.

17. Poor Marketing

Your marketing strategy should not be for a specific group of customers. Successful entrepreneurs focus on dynamic marketing strategies that address all types of customers.

18. Choosing The Wrong Platform

Choose the platform that’s most engaging when launching your products. For example, you can choose social media to market your products because almost everybody is active in social media these days.

19. Being Too Mainstream 

Be innovative! Implementing the same ideas that everyone else is using will not help you stand out of crowd.

20. Not Working On Entrepreneur Skills

Last but not least, keep striving for improvement. Never be satisfied with what you are today — you always have some room for improvement. Successful entrepreneurs observe their flaws and work on them. Your failures can lead you to the success you have always dreamt of, if you take them as lessons and now that you are familiar with common mistakes that entrepreneurs often overlook, try to avoid them!

Featured photo credit: RYAN MCGUIRE via gratisography.com

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Published on January 7, 2021

How To Train Yourself When You Lack Attention To Details

How To Train Yourself When You Lack Attention To Details

Some people see the trees for the forest, and some see only the forest, meaning they lack strong attention to detail. But even if you’re one of the people who take a macro rather than a micro view, true professionalism requires balancing both.

If focusing on the fine points is not your forte, you will benefit from training yourself to pay attention to details. You will profit by saving yourself time, effort, money, and credibility.

Why Training Yourself in Attention to Details Pays Off

You add value to your organization when you make the effort to ensure that you performed your work thoroughly and effectively. This is why job postings often list “attention to details” among the required skills.

When you present your supervisor or client with well-completed, high-quality work the first time, it maximizes your value and minimizes wasted time. Detail-oriented people are also more adept at catching mistakes that could lead to costly blunders.

Moreover, attention to detail is an indicator of possessing other in-demand employee qualities, such as organization, thoroughness, and focus. In some professions, such as accounting, engineering, medical research, and more, you can only excel if you have trained yourself to pay attention to details.

In other professions, possessing strong attention to detail is the very quality that will get you promoted to a position where you will be asked to consider the big picture.

Finally, if you are the “go-to” details person, everyone else on the team can relax a bit. They know the project is in good hands and will likely throw you more projects as a reward. This will ultimately lead to your advancement.

3 Important Aspects of Becoming More Detail-Oriented

Here are the 3 important things you need to learn if you want to remedy your lack of attention to detail:

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  1. Respect deadlines
  2. Understand the work-flow plan
  3. Build in time to mess up

1. Respect Deadlines

Deadlines lend all projects a finish line. One smart idea is to take the given deadline and work backward from it, calculating when your piece of the project is due. Then, if you stick to the proscribed schedule for completing the mini-projects that you have, you will never miss a deadline.

One important note on this: It is smarter to stick to the deadline and turn in work that merits a “B+” than to blow the deadline with “A” work. Chances are, through revision and suggested changes from others on the team, you can bring up your B+ work to an A later. But if you disregard deadlines, you will lose the respect of your boss and fellow teammates.

2. Understand the Work-Flow Plan

Your team is developing work in conjunction with other teams who have projects and deadlines of their own. When you grasp the whole work-flow plan, you may be able to either add insight to the greater project or to your own smaller piece of it that others at the firm will consider valuable.

3. Build in Time to Mess Up

You can expect that “what can go wrong will go wrong.” Don’t overpromise on deadlines. Something likely will mess up, but when it does if you built in the time to fix it, those around you won’t freak out.

Chances are, you already give your attention to several details. Take heart. You can do this! You can overcome your lack of attention to detail and become more detail-oriented.

For starters, consider this: Most people take the time and put in extra effort into the activities or undertakings that matter to them most. Training yourself to become more detail-oriented can mean adopting a similar pattern of behavior.

Apply the same attention you give to your appearance. Are you a meticulous dresser? Do you pay attention to how you pair patterns and colors, and how you accessorize a particular outfit?

This is the same system to use when you lack attention to detail with your work. Give every item careful consideration so that each one contributes to the perfectly pieced-together whole.

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Assemble the ingredients the way you do when you cook. Cooking and baking from scratch require close attention to details as you measure and add each ingredient in sequence, and you time everything so that the meal comes together at the same time.

Similarly, your work product requires you to gauge whether all the ingredients have been added and that your final product is delivered on time.

Organize your business network like you do your social contacts. If you follow a broad base of friends and acquaintances on social media, you can apply similar skills to stay up-to-date on details associated with business acquaintances.

When you meet somebody who could be influential to your career or a resource for improving your skills, follow that person on social media. Respond to their posts to keep the lines of communication flowing.

12 Tips to Help You if You Lack Attention to Detail

Teaching yourself to take note of important details involves sharpening your perceptions and thinking ahead. The following tips will help you adopt these practices. Master these habits when training yourself to become detail-oriented.

1. Learn to Listen Well

You will pick up relevant information and needed nuance when you apply the skills of active listening. In conversations, train yourself to make eye contact, give your undivided attention to the speaker, and ask pertinent follow-up questions.

Training yourself to pay better attention to details in conversations includes learning to fully concentrate on what others have to say. If you find it hard, there’s no harm in taking notes on what they say.

2. Pay Attention to Social Cues

Make a point of noticing body language and facial expressions that provide insights into how others perceive a situation. Social cues offer details that give you an understanding of how words and actions impact others. The infamous character Michael Scott of the television show “The Office” epitomizes the consequences of not paying attention to others’ body language.[1]

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3. Follow Rules

Rules and protocols usually come about from lessons learned and are put in place to avoid further mishaps—whether from a safety or efficiency standpoint. If you’re given step-by-step procedures to follow, check them off as you go. Also, return to the rules at the project’s end just to make sure you adhered to them all.

4. Take Notes

Note-taking is a way to boost your retention and gives you something to refer back to when you need to keep track of pertinent details. You will also heighten your focus as you listen for relevant information. Review your notes shortly after the meeting or conversation and highlight the content that you intend to apply.

5. Prioritize What Needs Your Attention Now

When you have a full slate of work that demands your attention, take a few moments to sort assignments from most to least urgent. Keep a calendar, spreadsheet, or project planning software up-to-date with schedules and deadlines to help you stay organized.

As you tackle each urgent assignment, give it your full attention so no details are missed. Give yourself ample time—especially if you tend to be someone who waits until the last minute—as rushing can make you overlook important details.

6. Have a Detail-Oriented Assistant Check Your Work

If you lack attention to detail, then it makes sense to seek help from someone detail-oriented. If you have this option, take advantage of it. Two sets of eyes are better than one. Just be sure to credit your assistant for their help once the project is completed.

7. Learn the Rules of Writing Well

English is a difficult language, and grammar, punctuation, and spelling can all sabotage you unless you pay attention to detail. When in doubt, look it up. Free to use website services such as Grammarly can help.

8. Proofread Before You Hit Send

Nothing is perfect in its first draft. If you lack attention to detail, then put in the extra effort before submitting things. Before you send off any written work, check carefully not only for misspellings and incomplete sentences but also for improper tone, inappropriate colloquialisms, and inconsistent formatting. When your written communications are error-free, they will have their intended impact.

9. Minimize Distractions

It is impossible to stay focused when colleagues carry on conversations nearby or your mobile notifications ding you throughout the day. Do your best to limit distractions.

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If you are working where there is a lot of noise or side activity, try wearing noise-canceling headphones or seeking out a quiet corner. Disable your notifications when you need to focus, and resolve to only check them after you have completed your assignment.

10. Take Breaks

It may sound counter-intuitive to stop and take a walk, but it’s necessary. Walk away from the screen. Moving from one task to the next across the span of your workday is a recipe for brain fatigue. Give your brain a recess time when you come to a natural stopping place or after you complete one project and before you start the next. These short pauses are necessary for sorting through all the details needed for coming up with successful solutions.

11. Make Time for Reflection

At the end of a workday, take a few minutes to go over the day’s events in your mind. What was said or relayed in conversations? What is the status of the projects you worked on? What else occurred that you should pay attention to? Could there have been any details you might have missed that you should address tomorrow?

12. Keep a Detailed To-Do List

This simple organizational tool is your best ally for getting your work done on time and for paying attention to the details. If you are pressed for time (and who isn’t?), write your list to coordinate with dayparts.

Allot a certain number of hours to complete each task, do it, and then check it off. Nothing feels more rewarding than completing all the tasks on your list. But if you can’t finish them, then carry them over to the following day.

Final Thoughts

Details may seem small, but they can become a lot larger when they are overlooked. If you know you lack attention to detail, commit to training yourself to embrace the many facets that can help you consistently excel in the tasks you set out to accomplish.

When you begin to catch your mistakes in advance or apply the tidbits of information you gathered from paying close attention, you will know that you have trained yourself in the fundamentals of becoming detail-oriented. After that, you should start hearing the phrase “Great job!” more often.

More Tips on Boosting Your Attention to Detail

Featured photo credit: Cristina Gottardi via unsplash.com

Reference

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