Entrepreneurs Top Mistakes Made
What are the top mistakes made by entrepreneurs . There are an awful lot of ‘wantrepreneurs’ out there. These are people who want to be entrepreneurs. Who maybe even tell people they are entrepreneurs. But who some how lack that magic spark. That they need in order to go out and change the world.
The question is: what is the difference between these people and those people who really do have breakthrough innovations? Often it comes down to a few simple mistakes they make along the way…
Entrepreneurs Talking Too Much
A lot of people I meet who have exciting ideas for apps, websites or products. w
Will make the mistake of telling me all about it. Which is not a problem because of intellectual property or anything like that. It’s a problem because I can tell, they’re never going to make it happen. These are people who enjoy ‘playing business’. People who love talking the talk but don’t actually want to do the work. Instead of talking… do.
Entrepreneurs Not Talking Enough
Then again, you also get the other type of entrepreneur. Who has an idea that they think is the best thing in the world. They get incredibly protective over it. This person refuses to tell anyone what they’re doing. Causing them to have a very hard time. Getting backers or convincing people to be interested as a result.
You know what? When you tell a potential consultant that you can’t tell them your idea. That’s considered insulting. Ideas are a dime a dozen. Execution is what counts. So get over yourself: you need all the help you can get!
Being Perfectionists
If you have an idea that is a big risk. The secrets is to get out there and make it happen. As soon as possible. What you can’t afford to do, is to spend years perfecting it and hiring designers. As well as lawyers and anyone else you can. In order to make it into something perfect.
This strategy involves investing too much time and money into an idea upfront. Because when you do that, you have a break even that is years away. You will run the risk of losing everything you’ve put into it.
Instead, release an MVP quickly. Which is a Minimal Viable Product. This is a rough version of your product. Which you will then be able to test. If people start buying that, the you can invest more into it. If not, then you move on to the next project and don’t waste any more time. It’s what they call ‘fail fast’ in the business!
Good Luck !
POVERTY TO FREEDOM
HELPING PEOPLE STRIVE
