The problem with being an entrepreneur is that, since you’re so wrapped up in making sure everything is being taken care of, you don’t always have the time to reflect, and check that you’re doing the right thing. When you’re caught between taking thirty minutes to think about your operations or working on pushing your company forward, you’ll most likely choose the latter. But the truth is that there probably are some errors in your operations that are weighing your company down. We take a look at a few of these below; if you’re guilty of any of them, then you’ll know where you need to make changes.
Micromanaging
You’re an entrepreneur, which means you have a specific set of skills that allows you to manage your own business. It does not mean that you’re able to do everything. Sometimes, business owners hire employees to do a job for them, and then proceed to micromanage them. In this scenario, everyone loses. Your employee isn’t able to showcase their talents. You’re not able to focus on your strengths. And your company has to be held back because no-one is releasing their full potential.
Wasting Time
There’s a lot that goes into running a business, as any entrepreneur knows. The t’s need to be crossed, the i’s need to be dotted, and there’s a bunch of other regulations that need to be adhered to and tasks that need to be completed. But just because you’re the one in charge, that doesn’t mean that they need to be completed by you. You’re just wasting time if you’re spending your day taking care of time-consuming tasks that don’t necessarily push your company forward. As such, you’ll be well-served by outsourcing your work to third-party companies. They’ll be able to take care of tasks including IT support, admin tasks, your accounting, and more. You won’t lose anything, but will gain plenty of free time.
Following the Trends
No company wants to suddenly realize that they’re behind the times. Yet while this can be a death-knell for a business, it doesn’t mean you should go the extreme edge on the other side. If you’re only committed to following the trends and making sure you’re part of the “in crowd,” then you’ll just be following other people’s thoughts. The businesses with the best chance of longevity are the ones who are aware of the current trends, but which always do their own thing.
Taking on Too Much
Your mind might be a flood of ideas. Yet even if every one was a bona fide good idea (which they won’t be), you should avoid putting them all into practice. If you take on too many tasks, then you won’t be able to dedicate the time to doing them all well. Focus on just one project at one time, and make sure you’re knocking it out of the park.
Finally, there’s your ego. Park that at the door when you walk into the office. It’ll only distract you and keep you from moving your company forward.
