Entrepreneurship

Top Traits Entrepreneurs Should Avoid

Top Traits Entrepreneurs Should Avoid

Entrepreneurs will more than often be at crossroads when it comes to decision making. Being one also comes with a hefty price which is one of the reasons why most people will shy away from being entrepreneurs. Being your boss comes with bigger responsibilities as compared to people that work for an employer. Here are a few traits one should avoid while running a business.

Top Traits Entrepreneurs Should Avoid

Being a jack of all trades

You need to understand that delegation is the key to getting things done. This also helps you groom your protégé. Being a hands-on person is okay but only when you are short staffed. Business owners that do everything end up burning out and doing everything wrong. Outsourcing some services is wise. They may cost you but will allow you to concentrate on other features of the business that you are excellent at.

Basic bookkeeping

 Bookkeeping is crucial. It is wise that you bring in a professional if you cannot do proper accounting. Basic accounting involves jotting down events and transactions without adequate procedures. It is wise that you invest in bookkeeping software as well as an accountant if your business has hit this level. This will help you track all your money efficiently as well as file your taxes promptly.

Entrepreneurs

Irregular business hours

The fact that you own the business does not give you the right to come in at any time. Your clients are reliant on your services and will also need a form of assurance that you will be there when they need you. It is wise that you determine your working hours and ensure that your clients know. Sticking to these hours also patterns the clients to work within the given hours. Irregular hours will be a problem for the customers that want to come into the shop.

Not moving with trends

The business world is changing fast with modern trends leading the way. This involves the use of CCTV cameras, the internet as well as more creative campaigns. The use of modern trends allows you to stay in touch with the current generation especially when they are your target. Using physical means of advertising near your store will not cut it. You will need to give in to having a good website, working with social media platforms as well as creating automated products and services systems.

Comments

Post a comment here

You must be logged in to post a comment Login

Leave a Reply

Entrepreneurship
@blgbankruptcy

Patrick Ward is a legal researcher specializing in finance, loans and debt analysis, and bankruptcy law. He has a decade of experience in analyzing the legalities involved in the dynamics between local and global financial institutions. He is also passionate in helping individuals overcome their financial challenges.

More in Entrepreneurship

Digital Marketing Hacks

Digital Marketing Hacks for the Frugal Small Business Owner

Staff ReporterJune 17, 2017
Artificial Intelligence startups

US rethinks Chinese investment in Artificial Intelligence startups

Sarah AliceJune 17, 2017
Academy Xi

Australian skill development startup Academy Xi raises $1.7M to expand to Singapore

Kristen LeuJune 17, 2017
Google Cloud lands in Singapore

Google Cloud lands in Singapore as Cloud Computing booms

Muhammad Zahid IqbalJune 17, 2017
Chief Minister Youth Mobilization Committee

Chief Minister Youth Mobilization Committee organized conference on Role of Entrepreneurship in IT Industry

Staff ReporterApril 18, 2017
National Freelancing Convention 2017

National Freelancing Convention to Celebrate Freelancers Community in Pakistan

Staff ReporterMarch 14, 2017
India to launch its Largest Startup Incubation Center

India to launch its Largest Startup Incubation Center in Hubballi

Sarah AliceJanuary 28, 2017
Tips for setting up your own Home Business

Tips for setting up your own Home Business

Staff ReporterJanuary 4, 2017
Mir Mohammad Ali Khan

This “STARTUP” Culture Will Kill Pakistan’s Reputation Soon

Mir Mohammad Ali KhanJanuary 2, 2017

Copyright © 2014 Khaleej Mag