Fatal Mistakes New Business Owners Make – Part 2

If you don’t know why you’re doing what you’re doing, chances are you’ll be going nowhere.

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Fatal Mistakes New Business Owners Make – Part 1

A lot of times, you’re using your life savings, and have a limited timeline for it to work before you have to go back to being someone else’s employee.

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Why Aren’t You a CEO Yet?

For those who are a little more advanced, there are videos, webinars, and entire blogs dedicated to teaching the basics of coming up with an elevator pitch, approaching investors, and starting a business from the ground up.

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Long hours, travels and planning will become your regular life, but if you’re committed and patient it will all be worthy. Is a matter of passion, because when you love what you do, it won’t feel like a sacrifice.

You’re Not Afraid of Taking Risks

eing an entrepreneur is all about taking the dangerous road. You need to have a sixth sense to identify opportunities from failures, but sometimes you’ll just have to trust your guts. This type of decisions won’t stop once you started: this is what growing up takes.

No Problem at Choices

As the head of a startup company, most of your job will circle around making important choices that can change the direction of your business.

Not Having Goals

If you don’t know why you’re doing what you’re doing, chances are you’ll be going nowhere. Goals need to be set well before you start a business. In fact, they should be part of your initial business plan. Setting your key objectives might be hard but it’s definitely what will keep you from failing or losing sight of where you should go.

Ignoring New Technology

In this day and age there’s an app for everything. Especially for things that we have might have grown accustomed to doing by hand. The digitization of businesses sounds scary and expensive but it’s necessary and can benefit all involved in the long run.

Automated Processes

A lot of what companies used to do manually, can now be streamlined and handled by a machine. So actual humans can spend their time doing the kind of works that requires a lot more creativity than repetition. This also reduces human error and provides something that’s rapidly becoming more and more valuable: data.

Not Hiring the Right People

New business owners want to reduce costs, which naturally leads them to try to do everything themselves rather than hiring a team. That’s a great solution when things are in the really early stages of planning.

List of technology awards

Business and management

CIPA

International Investment Awards

WIBA

Women in Business Award

GIFA

Global Islamic Finance Awards

E-Commerce Awards

The biggest event in Europe

Why Aren’t You a CEO Yet? / It’s Easier Than Ever

In the last few years, entrepreneurial culture has become increasingly mainstream. Nowadays, starting a business and being self-employed is normal, if not outright encouraged. There are more resources available than ever before, and all the information is a click away at any given time.

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