12 Oct Five Common Weaknesses of Entrepreneurs
I have been building businesses for over 10 years and I have to say that entrepreneurship is like learning to surf. Before catching a good wave you will fall many many times. It is part of the process and I find it necessary. After all, it makes you appreciate way more the success, when it eventually comes. So you should not be discouraged by the falls. Unless you find out you are meant to be an employee, but if you already started a business, I seriously doubt it. So take a look at my list of five common weaknesses of entrepreneurs. If you recognize yourself in one of these, do not worry. It is just another indicator have an entrepreneurial mind and you will most probably fix it.
- Bad Time Management
Working 14 hours a day is not such a great idea. Doesn’t mean you get more things done. Different people are productive at different times of the day, also some time management techniques work for some people and not so much for others. But if you work more than 8-9 hours a day, consider changing some habits.
- Hesitance to Delegation
When you start a business and you have not worked for any multinational company as a manager of a team, it is very common that you would be hesitant to delegate work to others. But unless you want to be a one man orchestra you will have to get over it.
- Biased perspective on the business
Yes, when you have been working for months on the same project you become so absorbed by it that you lose the perspective and may start taking some bad decisions. Take the time to step back every now and then and also ask for external feedback.
- Being all over the place
Having a lot of ideas is great! But don’t try to implement them all at a time. It will most probably be a disaster.Focus on 3-4 important things and chase them over. Then go back, analyze, get rid of what was not working, add something new..
- Bad Administration skills
I strongly recommend that you hire an accountant from the very beginning because administration most probably is something on the very back of your mind. Also software can help, there are many apps out there to help you keep track on invoicing, taxes and all these things you hate.
And much more I’m currently working in my next book
How to Overcome your Weaknesses as Entrepreneur
The book is based in my own experience as entrepreneur and in my role of mentor of advisor of more than 100 entrepreneurs.
We will include 5 more common weaknesses of entrepreneurs:
- No Sales Skills
- Couple and Family relations
- Bad and Unhealthy habits
- Friends vs. Employee
- Self control and stress
And the following Free Bonus:
- Resource Pack with more than 50 useful resources
- Free Coaching via Skype
Do you want to know more?