Avoiding some common business “mindset” mistakes can increase the chances of success significantly. Awareness is the first step to avoiding these mistakes. Take a moment and ask yourself if you are guilty of any of these mindset mistakes and if you are, begin to take steps to change your mindset.
- Hiding behind operations:
Hiding behind operations is a common mistake business owner’s make. Owners and managers often feel the best use of their time is working “in” the business rather than using their time to work “on” the business. A more effective use of a business owners time is planning for future growth with thoughtful strategies that take into account:
1) Competition,
2) How to make customers happier,
3) Fnding the right strategic partners,
4) Developing processes and systems to automate, and
5) Continually looking ahead to stay ahead.
- Avoiding doing what you hate doing:
Another mistake business owners make is avoiding the activities in the business that they hate doing. A well run healthy profitable business is like a well-run car engine. In order for a car to run well, all the parts of the engine must be in tune. An engine cannot run without pistons, and so when business owners avoid certain activities in a business, it affects the organizational flow and can stop the engine from running. This will eventually will lead to a broken business. Recognize the activities in your business you avoid and hire, outsource, barter do whatever it takes to get those things done.
- No one can do it better than me attitude:
Delegation should be one of the most important words in a business owner’s vocabulary. The only way a business can grow is if there is a team that is in place, (even if that means just two) and everyone on the team embraces the vision and has responsibilities that play to their strengths. To often business owners fall into the “There’s not enough time to train someone, so I might as well do the task myself” trap. Training employees takes time and follow up, but when done consistently a business owner can step away from the business knowing the machine is running with or without him there. Training is an investment well worth the return.
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