Every successful entrepreneur knows and understands what it takes to achieve positive and encouraging results in their chosen line of business. There are certain traits that high achieving entrepreneurs have mastered which have brought them much success.
Notwithstanding, there are enemies or what I personally refer to as “goal-blockers” to every endeavor – and entrepreneurs are not exempted. For any entrepreneur to succeed in their business, mastering great skills is essential but it doesn’t just end there: entrepreneurs need to be able to recognize threats to their success.
There are many obstacles that will come up on your way to success as an entrepreneur; however, in this article we will take a look at some of these goal-blockers.
Below are 5 of the greatest enemies that entrepreneurs need to do away with in order to achieve great results:
1. Ego
This is perhaps the greatest enemy of any entrepreneur. Ego here refers to a very inflated belief in one’s self. Having a healthy portion of confidence is certainly good for anyone, but when it goes overboard then there is trouble.
Being an entrepreneur means that you are your own boss and that you answer to no one; this is definitely a good thing. However, a problem arises when you as an entrepreneur make yourself the centre of attention instead of the business. Ego becomes an enemy of the entrepreneur when he or she starts to make decisions that are based on his personal interests instead of the needs of the business.
This problem is not only peculiar to start-up entrepreneurs, it is also applicable to the experienced and successful ones. This problem can bring down a business to its feet in just a very short time. If you are an entrepreneur – whether a starter or an old-timer – you need to recognize the threat that your ego poses to the success of your business.
2. The comfort zone
Many a times, entrepreneurs form the habit of getting relaxed and becoming complacent when they reach a certain level success. In such situations, they tend to take the same course of action in solving different problems, just because that particular method has continued to work for them in times past.
Every industry experiences change and it becomes important that as an entrepreneur you step out of your comfort zone or you will be left behind. It is not uncommon to hear of several businesses that have been put out of work as a result of disruptive innovation. Complacency is an enemy to anyone (not just entrepreneurs), and as such the sooner it is dealt with, the better it gets for the individual and the business.
When you leave your comfort zone, you are certainly taking a step in the positive direction. To further strengthen you on this issue, I’ll add the popular saying that “Nothing good comes easy.”
3. Learned helplessness
When an entrepreneur begins to cultivate the habit of “I can’t” or “I am not able to,” overtime they will eventually become a helpless in their endeavors. Learned helplessness makes people to feel like victims all the time (even when they are not); when they should be optimistic, he/she tends to be pessimistic.
The first step in dealing with this enemy of entrepreneurship is to recognize its presence. When an entrepreneur recognizes that he or she is exhibiting such a character trait or habit, they need to take proactive steps correct the behavior and completely eliminate it.
If this issue is not properly dealt with, the consequences can be dire for the entrepreneur involved. This brings us to the next enemy on the list: “Taking the path of least resistance.”
4. Taking the path of least resistance
Fourth on the list is the path of least resistance. This falls in the same category as “learned helplessness.” Taking the path of least resistance refers to the natural disposition for one to follow a way which seems to be the easiest and quickest in order to achieve a result. People who tend to act in such a way and usually do so to avoid challenges and get results in the short term, while neglecting the consequences of their actions in the long term.
This attitude towards getting things done should be discouraged among entrepreneurs. Although it may not be easy to completely do away with this issue (as nobody loves to take difficult steps when there are easier ones available), but it can still be attained. It boils down to how determined you are as an entrepreneur in getting rid of the problem.
5. Unhealthy competition
Competition is good, no doubt about that; however, when it is done in an unhealthy fashion it becomes a problem. There is a quote that reads: “Competition in business is a blessing, for without it, we wouldn’t be motivated to improve.” This is certainly true, for much of the innovation which we see and enjoy today are as a result of healthy competition. But as I have already said and I am saying again: not all competition is good.
When an entrepreneur forgets why they went into business and starts to compete with rivals it usually doesn’t end on a good note. If you decide to compete with anyone, first of all you need to know whether you are actually doing the right thing. I say this because it is not all businesses that you should compete with. For instance, if you are run a marketing business, it is very foolish to compete with your neighbor who runs a coffee shop.
To wrap it up, the 5 enemies stated in this article are actually few in a host of so many; although they are only a small representation, dealing with these 5 would be a great first step in helping you to achieve your goals as an entrepreneur. Every entrepreneur needs to recognize these enemies as threats to the success of their business and work to eliminate them.