The first principle of my blog is Creating Ecosystems of Success and two of its key focuses are Financial Literacy/Money and Business/Entrepreneurship. Becoming an Entrepreneur is often easier said than done as it calls individuals to use ‘muscles’ they never knew they had. There are several things to consider. The following contributed post is thus entitled; Why You’re Not Reaching Your Full Potential As An Entrepreneur.
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It’s not easy to be an entrepreneur. What started out as a drive to bring your ideas to life has now turned into something that’s much bigger, and it’s not always enjoyable. There’s the pressure, for starters, which, what with all the tasks you need to complete and so on, can quickly begin to feel quite overwhelming. In order to be the best entrepreneur that you can be, you need to reach your full potential. But how do you get there? Below, we take a look at a number of reasons why you might be held back.
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You’re a Boss, Not a Leader
You began as a solo entrepreneur, but pretty soon you took on employees, and now there’s a team of staff! Here’s the thing, however: being a boss isn’t going to take your business to the next level. Being a leader is. Alas, you’re not handed a guidebook when you take on staff that tells you how to lead them. If you’re micromanaging your staff, or you’re not hiring correctly in the first place, then you’ll be keeping yourself in a lower gear. Hire people who are more talented than you are; they’ll bring you up.
Wasting Time
There are a lot of tasks that need to be completed if a company is going to be successful. However, nothing says that you’re the person who needs to be in charge of them. In fact, it’ll be better for your company if you’re not handling the time-consuming or complex tasks, as it’ll free up your time to work on things where you can actually contribute something positive. Instead of wrestling with your technology, for instance, you should hire a company that offers integrated technology services. Instead of spending time figuring out the latest marketing strategies, hire a company to handle it for you. The same can be said of accounting, answering calls, and so on. These tasks will be managed, and you’ll have more time to work on tasks that involve your skills. It’s a win-win situation.
Too Many Good Ideas
To be an entrepreneur doesn’t mean having a good idea after a good idea. It’s being able to tell which ideas are worth pursuing and which should sit on the sidelines. If you have too many good ideas, and try to put them all into practice straight away, then all that’s going to happen is that you’re going to end up with a bunch of half-baked ideas floating around the company. Commit to just one idea, and make sure you’re doing it well.
The Ego Rules
You do need to have some ego in order to be an entrepreneur. After all, you need to believe that the world needs whatever you want to offer it, even if deep down you know that this isn’t really the case. But once you’ve actually set up the company, it’s worthwhile limiting the importance of your ego. It’ll only hold you back, and make you blind to the good ideas of other people.
