Five Things Extremely Savvy Entrepreneurs Sometimes Do But You Really Shouldn’t!
(Because Doing So Might Definitely Cost You Way More Than Money!)
Ladies & gentlemen, (hopefully) by now, you can sort of truly appreciate that being in a really intense personal relationship, and being an incredibly intense, and 100% dedicated and laser focused entrepreneur, definitely has an awful lot of similarities!Correct?
One of which clearly is, no matter what, under certain circumstances, some unfortunate thing or things you may do, no matter “how” unintentional they may be, they are definitely complete deal killers!
Would you not agree?So the real purpose of this post is to try and reveal, (a warning shot) by way of a really short list,of five critically important things, (unfortunately)some extremely savvy entrepreneurs do,even though they definitely shouldn’t!
And if for some odd reason, (in the not so distant future entrepreneur), you find yourself and or someone in your organization, (and or a potential) or current strategic alliance and or cross promotion partner about to, (or currently) doing so!
You can and should put the brakes on it immediately!Or else you risk it, (being allowed to continue), eventually sinking your entrepreneurial titanic!
So What Are These Five Critically Important Things Unfortunately Some Extremely Savvy Entrepreneurs Occasionally Do They Really Shouldn’t?
Right out of the gate, (ladies & gentlemen) and other distinguished readers, (that hopefully) accounts for everyone present!Correct?
Far be it for yours truly to mount a grandiose soap box, and attempt to lecture my fellow and would e entrepreneurs, about what they should or (definitely) shouldn’t be doing!With regards to how they or you ultimately run your businesses!
However, because some of these occasional errors in judgement can (and often) are potential deal killers, and or overall proverbial nails in your businesses entrepreneurial coffin!
It’s important, before you go too far down that road, (and hopefully) not at all, to at least bring some of these critically important issues, from out of the shadows and into the open.
Where hopefully they can be recognized, discussed and effectively dealt with!Before it’s really too late!Okay?Thanks!
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Now then, let’s have a much closer look at these five critically important things, that occasionally,even some extremely savvy entrepreneurs do, but they really shouldn’t!
1.) The first extremely critical thing some savvy entrepreneurs occasionally do, they really shouldn’t: Entrepreneur; please don’t be a hater here! But truth told, you really shouldn’t consistently be “over promising, but under delivering!”
Because this type of self sabotaging behavioral pattern, will very quickly, severely damage, if not totally destroy your “brand” ,(read that as ) your reputation altogether!
Hey I totally get it! You desperately wanna impress your banker,your spouse, significant other, potential venture capitalist firm,your newly invested partner(s).
Your Mother and or father in law, a potential major customer, client and or patient, or a potential (JV) joint venture partner and or your CPA etc!
But my friend, getting their hopes “way too high”, only having to later attempt to walk back your semi boastful claims and or non deliverable assurances etc! You’ll both be the ultimate losers!It’s truly a fine line!So watch yourself, with regards to this potentially destructive practice!Just saying!
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2.) The second extremely critical thing some savvy entrepreneurs occasionally do, they really shouldn’t: Next, while some extremely savvy entrepreneurs will occasionally decide to prematurely give in, to the practically irresistible allure of some extremely sophisticated venture capitalist firms, readily available cash!Way before you should, if at all!
Not realizing, (and or) grossly underestimating, or discounting the fact!These men & women that invest their hard earned money into other peoples businesses for a living!
They not only expect a substantial return on their investment, they will often (demand) as part of their final agreement, they be in total control, until their ownership interest is sold!
Extremely Successful Entrepreneurs Don’t Get And Stay There By Accident!
Case in point: Ever watch the incredibly popular reality TV show, “The Profit?” Featuring the main star of the show “Marcus Lemonis.”
And while Marcus isn’t a venture capitalist, he will often, demand, no matter what his particular ownership percentage is, he remain 100% percent in control, until the business is actually running at or near it’s full earning capacity!
Which means ladies & gentlemen, before you get seduced by venture capitalist money, make darn sure you totally understand and can live with any and all the strings that will definitely be attached!
Successful Entrepreneurs Have To Become Decisive And Extremely Pragmatic Really Quick!
3.) The third extremely critical thing some savvy entrepreneurs occasionally do, they really shouldn’t: Moving right along! The next thing (unfortunately) some extremely savvy entrepreneurs do, they really shouldn’t!
Just because you know (full well) going into a potential venture, that it’s filled with all types of real and imagined risk! That doesn’t mean and or shouldn’t prevent you and I from consistently taking, (well thought out) calculated risks!
Don’t Waste Your Incredibly Valuable Time And effort trying To Make Your Entrepreneurial Ideas Risk Free!
Nothing, (excluding death & taxes) is 100% assured people! So after you and everyone concerned has carefully dotted your I’s & crossed your T’s etc!
Entrepreneur, it’s time to go from theory into actual execution mode, and do a little (OJT) on the job training/learning! Otherwise, you’ll be forever stuck in the “Danny/Suzie the dreamer mode!” Enough with that already!
Hey, even the late great Steve Jobs had a few early missteps!But he ended up doing pretty good, right?
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4.) The fourth extremely critical thing some savvy entrepreneurs occasionally do, they really shouldn’t: Ladies & gentlemen, can we really be brutally honest here!And get totally real!Because this next one is extremely crucial!
And it’s the continual pattern of this particular no,no, that is a total momentum and empire building killer!
Far too many otherwise, extremely savvy entrepreneurs often, (for whatever reasons), decide based on their, current level of expertise, advanced educational accolades,media hype, current and or recent major successes and or accomplishments etc.
They’ve reached the point, they no longer need to consistently invest in their ongoing educational and or personal development!Say what?
Extremely Successful Entrepreneurs Are Always Students In Constant Forward Progress Mode! (And You And I Definitely Should Be As Well!)
News flash!: Dear sweet and totally delusional (potentially) fatally off track entrepreneur! Word of advice here!Get over yourself quickly!Before it really is too late!Again,just saying!
5.) The fifth extremely critical thing some savvy entrepreneurs occasionally do, they really shouldn’t: Which brings us to the fifth and semi final thing. (Hey, you’ve always got to leave the door semi open for a potential sequel or two! Correct? 😉
Anyway,far too many aspiring entrepreneurs,because they will occasionally find themselves in a temporary cash crunch.
For any number of reasons, like a major sales cancellation from a major customer and or client! Or maybe a temporary dip in your local (offline) economy, causes your business/service to experience some front end cash flow hiccups!
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Or maybe through no fault of your own, you aren’t able to come in on time with your end of a commitment etc!Oh boy, that’s always fun!
Whatever the case may be, you find yourself,temporarily in need of a quick infusion of cash!And you temporarily start chasing, (read that as) repelling dollars/business, instead of strategically attracting it!
In short, you start seeing your potential customers, clients and or patients as dollar signs, instead of long term VIP’s!
Hello! And your temporary lack of service and concern for their well being, causing them to seek out one of your major competitors asap!Nod your head cadets, you know it’s true!
Successful Entrepreneurs Don’t Purposely Over Complicate Things! (And Neither Should You!)
These are just five of the extremely critical things, some extremely savvy entrepreneurs occasionally do, but you really shouldn’t! Don’t you agree?
Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!
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Well you know me well enough Mark to know that I’m a passionate advocate about personal growth, and while I have known some people that have become mired in the process of preparing to do something without never actually taking a step forward, learning is seldom, if ever, the problem – more often than not it’s lack of self-confidence or a “sounds good” goal that they’re pursuing because they think they should, or because it sounds impressive to other people but they aren’t really serious about making it happen.
I’m going through a period of pretty intense growth myself right now that involves taking massive action and every day I’m learning new things, in fact many days it feels like I’ve thrown myself over a cliff trusting that I’ll learn to fly on the way down!
Marquita Herald recently posted…Alone Doesn’t Have to Mean Lonely This Holiday Season
But M, I thought you already knew how to fly!LOL!
I can so relate to the, “I’m just waiting for the exact right moment crowd!”LOL!
They prepare and prepare and prepare so more!LOL! And like you said, they never quite make that all
important very first step forward!
And yeas, truth told, they silently or openly think, we’re a little bit off
our collective rockers!LOL! So be it!
M,I just logged in to my dashboard to check something and saw that yo had left a comment
and link to your latest post!LOL!
And your headline just plain hit it out of the park!LOL! I can’t wait to read it and
share it!
And hey, if we don’t communicate again this week!Enjoy your TG,okay?LOL! Take care!
And it’s always nice to see you!!
Mark Newsome recently posted…How Extremely Savvy Marketers Consistently Create 25% More Business With Less Money!
I certainly agree about continued learning, Mark, but there comes a time when action is needed instead. Sure keep learning in areas you are lacking, and keep up to date in others, but don’t keep repeating the same kind of learning, searching for secrets that aren’t there. This leads to procrastination, often due to lack of confidence.
Thank you for your other very useful insights too.
Sue Bride recently posted…16 Reasons Why Writing Quality Content Isn’t Enough
excellent points Sue!
And I couldn’t agree more!BTW, I like the way you
put that, “searching for secrets that aren’t there!”LOL!
That is a great way of explaining why so many (myself occasionally included),
continue to stock more incredibly valuable knowledge and do virtually very
little with it!
How times has that scene played and will continue to do!Those are
some excellent points Sue! Thanks so much for taking the time to
stop by and share them!
I truly appreciate it!
Mark Newsome recently posted…Five Things Extremely Savvy Entrepreneurs Sometimes Do But You Really Shouldn’t!
Hi Mark
That image on your post really caught my eye: “If you don’t build your dreams, someone will hire you to build theirs.”
I have been self-employed for the majority of my working life, but when I had a brief spell in employment, that was what really motivated me to get back into self-employment ASAP. I was working my guts out so that the bosses, nice and hard-working though they were, could ride about in fancy cars and live in super-duper houses.
The time I spent on their businesses was time I could have been devoting to my own business.
Joy
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Absolutely Joy!LOL!
And thanks for your nice compliment about my image,
because it literally had the same exact affect of me, when I
initially saw it!LOL!
Hey, while neither one of us was against any hard working
individuals, driving whatever they want and living where ever
they can afford etc!
We’re just against them doing it off our sweat, while we claim the left overs!LOL!
Great points and thanks so much for taking the time to stop by
and share them!
Mark Newsome recently posted…Five Things Extremely Savvy Entrepreneurs Sometimes Do But You Really Shouldn’t!