Five Mistakes In Entrepreneurship

Everything is difficult at the beginning.

As an entrepreneur, we are bound to make mistakes on the way of entrepreneurship because we are all influenced by conventional ideas.

Borrowing and revising Tolstoy's famous saying, we can say: "successful companies are mostly very similar, but failed companies have their own characteristics."

Why do I say so? Because there are only a few ways to succeed, but there are endless tricks to fail.

Error 1: using the wrong person in key positions

If the new venture wants to develop rapidly, all monkeys are anxious, and the plan will never catch up with the actual process.

Everyone in the company must resist several aspects of the work.

Under such circumstances and pressures, entrepreneurs must employ a lot of people in a very short time.

At this time, one of the most common mistakes is to rush to hire people and forget that the quality of people should be the first important thing.

People often have the idea that they should first be anxious before they can hire talented people.

This is a big mistake.

The wrong result often takes a lot of time to show itself.

Hiring people quickly and thoughtlessly seems to solve the immediate crisis, which makes people feel relieved and relaxed.

But your relaxed feeling will soon disappear and then start worrying about whether these people are competent.

No matter whether they are competent or you simply doubt their abilities, you have to help them do many things for the sake of the company.

In the end, it doesn't make much difference between hiring people and not hiring people. Not only does everything have to be done by you, but you have to raise more than one person.

Hire people must maintain high standards and be patient until you find the right person to help you start your business, and then you can let them do it.

In this way, you will get twice the result with half the effort.

A compromise is adopted: maintaining the high standard of recruitment, and relaxing their resume and experience.

We hope that their strength and strength will make up for their lack of experience, and they will quickly adapt to and produce results, which, of course, has certain risks.

Error 2: be cautious and avoid risk reduction.

Many entrepreneurs are cautious and dare not to fight big battles.

But this is wrong, because the failure of a small battle is no less than a big battle.

That being the case, why not go all the way and lose the bad luck? If you win it is a grand slam.

Here, the only thing to measure is whether the risk is comparable to the expected return, and not to take risks for something not worth it.

But if it's worth it, don't harm uncle.

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Error 3: cater to venture capitalists

This is a stupid act.

In doing so, you may well erase what we really want to know.

Let's take an example: a gentleman has a very good idea. He finds others have a similar idea and just got the investment. So when he talks with venture capitalists, he always tries to rely on that similar idea.

He thought that venture capitalists would be interested in him since he invested in the front.

But he forgot one: what venture capitalists want to know is what his thinking is different from before.

Venture capitalists don't want to invest in two very similar companies.

Error 4: underestimate competitors

Suspicion is a bad thing, but in business competition, it is the quality of all successful people.

Bill, Gates and Andy? Graff are the two most successful entrepreneurs and two most suspicious people.

No matter how successful their companies are, how much market share they have, how many times they have been on the cover of magazines, they are always considering the next step.

The way they manage the company seems to be crushed tomorrow.

They are always very vigilant.

This is actually not redundant. Do you still remember the days when IBM monopolized personal computers and text star wordstar monopolized word processing software? How absolutely leading these two giants were at that time.

But in the blink of an eye, they lost to a much smaller, enterprising and more flexible competitor.

Remember, the market you own is also wanted by others, and is likely to be stolen from you.

Never underestimate your competitors.

Error 5: focus only on money.

It is no secret that an enterprise must make money.

But if making money becomes your sole goal, it will lead to many problems: focusing on immediate interests and ignoring long-term investments can not improve the morale of ordinary employees and lack long-term plans.

This is like a fable, when you catch butterflies, you get more and more confused.

On the contrary, if you sit there quietly, the butterfly will fly to your shoulder.

Of course, sitting quietly in a commercial field is not acceptable.

But excessive pursuit of money will make you less.