In this episode we are going to talk about mistakes you definitely want to avoid if you are considering being an entrepreneur. If you are an entrepreneur, we’re also going to talk about how to avoid being the accidental entrepreneur. So take out a pen and a piece of paper because we are going to definitely do some note taking. I promise this to be informative for you especially even for those of you who aren’t yet an entrepreneur, you are thinking about becoming one and some of the maybe mistakes and shortcomings and pitfalls that you can avoid and I hope to share with you some of the mistakes that I’ve made and of course some of the things that I’ve seen other entrepreneurs make because I have been coaching and helping entrepreneurs for more than 20 years. I have had about 10 different businesses.
So let’s talk about the first one and the first one is that you have prioritized working over strategizing and often times, new entrepreneurs that’s our go to. It’s not uncommon for new entrepreneurs to be the hardest working, most driven, inspired, motivated people that you will ever meet like work ethic through the roof and in fact, that’s why most people become entrepreneurs because they are like, I am running circles around everybody here at the office. I am the person that takes care of not only my project but everybody else’s projects. So I should probably be doing this for myself and so, often times they will see an opportunity, take that opportunity, leave the workforce because they are like I can outwork anybody and outwork them and to be honest, that will get you a certain degree of success, it will but a limited degree of success. It will give you unfortunately, you eventually will burn out and then you will think to yourself, maybe I should go back and I should get a job. Why am I working so hard, harder than most all the other people I know and I am not getting ahead… [to get the full scope on this, listen to the video above]
The next big mistake that accidental entrepreneurs make is that they operate as employees or managers or at least from the employee manager mindset. So it’s not uncommon for people who are really exceptional managers to believe that they’ve created such amazing success for this company that they should now leave and go start their own thing. It’s very common but a great entrepreneur knows how to find a great manager because a great entrepreneur isn’t a great manager. I am not a great manager. I don’t know, I don’t have the skill to make sure that everybody gets their job done and you know I am going to make no bones about it. Here is what you need to do. That’s not my greatest skill so I always hire great managers.
My mindset is to lift my team to make them feel valuable and important and to find their strengths and to pull them out from them and to honor them and that’s what makes me an entrepreneur. What makes you a great entrepreneur is finding someone who is a manager. If you are operating by being a manager, you will find that people don’t want to work hard for you. People aren’t attracted to you, people won’t stay up all night to help you, people won’t promote you and fall in love with you and trust you and like you and believe you because you are a manager. Think about the manager you once worked for. I think we probably all have them who is just a nightmare but things got done like you were so afraid of getting on their bad side. They operate and they think they are motivating people but truly they are motivating from fear like you just, you get things done and you work hard for them because you are so afraid to get on their bad side.
People want you to care about them and that’s a big mistake if you have caught yourself doing that, know it’s an important time to address it and learn and change that. The next biggest mistake a accidental entrepreneur will make is that they will operate it from a place of fear and you will find that when I say accidental entrepreneurs, there are people who operate as accidental entrepreneurs and they’ve been in business for 10, 15, 20 years. I know individuals who right now I would consider accidental entrepreneurs and they’ve been in business for 20, 30 years.
The next and biggest mistake that accidental entrepreneurs make is that they operate from a place of fear. They fear that they are going to run out of money. So they think they have to do everything themselves. They fear that somebody else is doing something better than they are. So it’s very difficult to focus on their own successes and their own path because they are constantly like looking over their shoulder and like worried about what everybody else is doing. They fear that someone else is copying them, they fear that they might be missing out on a big opportunity. They fear that others are comparing them, they compare themselves to other’s success, they fear that they are not getting there, they fear that they are being treated poorly and that you know, other people have certain breaks. They fear that someone is going to be taking advantage of them and so they fear spending their own money, they fear operating their freaking phone even though that’s their only true business tool. They fear spending money to learn to do things the right way because they are going to figure it out themselves because they fear that they are going to be taken advantage of.
Its fear, scared money don’t make money as Mr. Johnson likes to say. It’s fear of letting go off the tasks that they believe I have to do this, I am the only one who can do this and I have to do this because no one else will do it as well and no one – I fear it’s going to take me too much time to teach them how to do this, I fear that if I don’t make this perfect and I put it out there, someone’s going to judge it.
So there is so much fear that they – their business never grows.
For the full version, watch the video above!
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