This post is written by, Anais John who specializes in aiding her vast academic expertise to students who often ask professionals, can you help me write my essay. She also runs a blog that talks about fresh grads, freshman career, etc.
Being an entrepreneur is not easy. You don’t have a “yellow brick road” to follow and at times, you don’t even have a Tinman, lion, and a scarecrow to help you to your destination. It is common to fall into many traps before you reach your point of success as an entrepreneur.
There will be many obstacles in the way! However, learning to recognize them can surely help you get prepared for what could possibly happen to prevent you from reaching your Emerald City castle.
Expecting heaps of cash right away.
It can happen, but not everyone is that lucky. Entrepreneurs have to wait a considerable amount of time before they can experience heavy cash flowing into their pool. Obviously, they have invested a large amount of money which is their “cost” and that cost has to be covered before you can start making any profit. Before you reach the breakeven, you can’t even think about gains and benefits.As an entrepreneur you have to learn to be patientas well as optimistic before you expect immediate returns.
Falling into the pool of “what if’s”
Entrepreneurs are risk-takers. If you fall trap to the what-if’s attitude you’ve just lost your entrepreneurial mindset. Fear can act as a great barrier for entrepreneurs to expand or continue to operate. Fear will hold you back from doing things that you should be doing to further improve your business and get successful in your enterprise.
Expecting amazing responses –every time
Sometimes, you’ll have good days and other times you’ll have really bad ones. Not every client/customer you come across will give you the feedback you desire. Falling trap to reduced productivity and lack of enthusiasm just because of one bad day, is a mistake many newbie entrepreneurs make. No one is perfect and no business is either. There are plenty of people saying mean, angry things to even the biggest and best of organizations, don’t you think? Now, how can you expect yourself to be so PERFECT and satisfy every single customer?
Worrying about reputation
People talk and people will keep talking. A true entrepreneur doesn’t get bogged down by people’s comments. Peoplealways just want something to talk about! If you try to keep your entrepreneurship efforts a secret at start-up, you’re making a huge mistake. Don’t worry about reputation or “what are people going to think about me if it doesn’t work out.” C’mon you have a new business to market! Your networking capabilities are sure to be hampered by this approach — and networking is part of making your business a huge hit.
Being Extremely Confident
As opposed to the second trap where one is extremely unconfident about their abilities, being over-confident is another trap. This is commonly known as the “trap of arrogance”. This actually leads you to under-prepare for what’s to come. Not having a game plan, not following the market trends, not doing your research, or not seeing your competition as a threat are a few examples of these kind of traps. It’s okay to be confident. But being overly confident and reckless is, to be honest – kindadumb.