Every person has some bad habits in his life, even I have a bad habit of biting my fingernails. If we talk about a businessman, he maybe has a bad habit like he generally forgot to generate e-way bill. So, we can say that every person have some bad habits which he should try to avoid but somehow he can not able to do this but it is a fact if we are not try to avoid our bad habits at right time it may be very costly for ourselves. In this article we will talk about some bad habits of an entrepreneur which he should avoid.
1- Avoid talking to people – The first bad habit of an entrepreneur which is bad for his startup is avoiding talking to people. Many entrepreneurs are introvert by nature and feel uncomfortable to talk with strange people directly, it may be very costly for a business. If you are one of them then you should avoid it, Because communication is a life blood of an organization and if you want smooth communication with your stakeholders then you should try not to avoid talking to people.
2- Setting unrealistic goals- Many entrepreneurs have a habit of setting unrealistic goals, for example setting goals of becoming top 10 company in 1 year. It is not realistic because every business takes time, but some entrepreneur wants success in little time to they set goals like this which is very difficult to achieve or we can say that it is unrealistic goal because the competition amongst all business is too high.
3- Expecting too much from their employees- Some entrepreneurs are expected too much from his employees which is not good. Like if you think your sales team can sell your 100 products in a day then it may be not possible for them because it is only a new startup and no one can sell this much, It takes time. Even if we talk about some companies they are not able to sell 100 products of their company in a year in early time. So if you are one of them then please stop expecting too much from your employees.
4- Avoid marketing for saving cost- Some entrepreneur have bad habit of avoiding marketing because they treat marketing as an expenses only. Which is not good because if talk about today’s scenario then we can say that, no business can survive without marketing because if we avoid marketing in early days of our startup then no one can remember our product and our product become unknown for our customer. So, if you are one of them then please understand the need of marketing in early time.
5- Avoid delegation of authority- Many entrepreneurs not feels good if we tell them to delegate their authority to their subordinates. They always try to avoid delegation of authority amongst their subordinates which is not good because no one can do entire work of his company solely. So it becomes necessary for an entrepreneur to delegate his authority to his subordinates. If you are one of them who feels bad to delegate authority among your employees then please avoid this because this is bad for your company or business.
6- avoiding customer’s benefit for personal profit- In early days of business every entrepreneur want to earn profit but some entrepreneurs forget about the customer of their business and just concentrate on earning more and more which is not good. Every entrepreneur should give first priority to his customer because customer is a king of the market and if he is not happy with your services then he can switch to your competitor which is heartbreaking for you and your business. If you are one of them then please give first priority to your customer and then make your profit.
7- Rigidity in decisions making- Many entrepreneurs have problem of rigidity and they refuse to be a flexible decision maker. If you are not flexible enough to adopt the upcoming changes then you can not able to survive in long term. The biggest example is nokia who is not adopted the technology change in their business and now they are out from the market. Although they came again but it is too late for them because now other companies become the king of the market. So, if you have a bad habit of rigidity in your decision-making then please avoid this.
Conclusion : So friends these are the seven bad habits which you should avoid in your business because it is not good for your startup. I hope you like my article if you like it then please hit the like button and if you have some more bad habits to tell then please tell me in the comment section and do not forget to share this article to your friends.