Entrepreneurs have a lot going against them, including competitors and a sluggish economy, just to name a couple. But many small business owners might not realize that they can be their own major obstacle.
Small habits you might not even realize you have can have a major impact on your business, and not in a good way. Here’s a look:
Multitasking
Small business owners have a lot to oversee each day. It’s great that you can have 12 tabs open, three email conversations in progress, a buzzing cell phone and a conference call going at the same time. But trying to cover that much ground actually makes you less productive. Your brain can’t effectively switch between tasks, which means you are more likely to have difficulty focusing. People who multitask regularly are also prone to mistakes and lower retention rates. Multitasking is tempting, especially when your calendar is overflowing with appointments. The best thing to do is to focus on your most important tasks in the morning and work down your list through the day.
Overcommitting
Growing your business is every entrepreneur’s dream, which might explain why so many business owners constantly stretch themselves too thin. The idea of skipping an opportunity can be terrifying because there’s no telling when it will come up again or what it might lead to. You don’t want to pass anything up.
But making too many promises causes undue stress and stunts your ability to work effectively. If you’re presented with a new opportunity, talk to your spouse, mentor or a trusted adviser at work and get a second opinion. You might realize that another opportunity will come along when you’re better suited to handle it.
Scapegoating
Some of the most successful entrepreneurs of the past century created companies with ideas vastly different than the status quo of the time. They went against the tide. They zigged when others zagged. They took big risks, and it paid off in a big way.
Of course, some entrepreneurs with risky ideas don’t receive a big payout. This can happen for a host of reasons, but it’s important that an entrepreneur takes responsibility for the failure. Too often men or women who experience a setback blame others.
Aside from making you look petty, this signals that you don’t have the stamina to make it in the world of business. When Thomas Edison failed 99 times while trying to invent the light bulb, he didn’t blame his assistants or his working conditions. He examined why he had failed and corrected his mistakes.
Whining
This should be a no-brainer. If you’re starting a new business, chances are you see something missing in the market or have a solution to a common problem. You can’t expect to make major changes to the world of business without making a sacrifice or two.
There will be long days, late nights and seven-day workweeks. But, if you succeed, there will be benefits you can’t begin to imagine. Facebook founder Mark Zuckerberg didn’t become the world’s youngest billionaire by complaining about his workload. Clients, employees and investors will be much more inclined to work with someone who makes no excuses and puts all of his energy into his business, not whining.
