Many people want to do business themselves, but only a few. And of those who did, 6 out of 10 failed within the first five years. Why is this business collapsing? I am going to uncover 3 dangerous mindsets that can harm your business and how to deal with them.
# 1: Do what you want without a clear vision
Many people who do business on their own are experts in their field. Unfortunately, most of them fail on their own because they start doing what they know and ignore the rest. This business begins to work according to the owner’s wishes, not the needs of the business.
It’s this dangerous mindset that destroys your business before it even starts, and the reason is simple:
The owner is so focused on his craft that he fails to do what the business needs. They have no idea where business is going or what development strategy they are pursuing. It is imperative that you develop a compelling vision, values, goals and mission for your company that gives you the clarity and strength to withstand the ups and downs of a business.
# 2: Doing business from an employee’s perspective
In the beginning, you can do whatever your business needs. But after a while you find that not only are you doing the job you know how to do, but you’re doing all the difficult things you can’t do as well. Then you realize, very slowly, that there is much more to be done than you can do.
There is nothing wrong with being an expert in your field. There is nothing wrong with being a skilled master who owns a business without changing this dangerous attitude! Because: As a skilled craftsman turned business owner, your focus is reversed. You see the world from the perspective of the employee from the bottom up and not from the perspective of the employer from the top down. You are so used to working in other companies that you are now working in your own company.
But when you run your own business, there is something more important that is not being met. And this is strategic work that implements a system that will propel your business forward so that you can make the dreams you dream of. If you have a viable business and don’t want to run to death with this dangerous mindset, you need to be able to achieve systematic and predictable growth. You need to think of your business as a set of systems that drive growth.
# 3: Have a tactical perspective, not a strategic perspective
When a business owner is focused on his job, not his business, he loses clarity about his priorities and tries to use all available tactics to get the income he desperately needs. They impulsively try out the latest trends or techniques and hope it works. In business life, hopes and guesswork are not a tactic. Such a dangerous mindset is not how to run a successful business! You need to have a specific goal or method in order to measure whether this tactic works or not.
You need to use visionary concepts to get the clarity, direction, and direction your business needs to be successful. This will help you filter out the distractions and employ the right tactic that aligns with your business vision and strategic plan.
This is very important because what you do is more important than what you sell.
As long as you have a dangerous bottom-up attitude about your business, you are doomed to fail. To find out why most businesses don’t thrive, it’s important to understand the difference between the thoughts of a skilled craftsman who owns a business, an entrepreneurial mindset focused on building and growing a successful business, and the three dangerous mindsets that can ruin your business, understand. and make sure yours thrives.