5 Things Every Entrepreneur Must Avoid

While the idea of entrepreneurship is not new anymore, being a founder still does hold a level of novelty to it. To dream of owning your own business, making a brand out of it and monetizing it, seems rosy but there are some very obvious things which if not avoided can crash your business before you can blink your eyes!

Here are five things you must be very careful about; they are small but go a long way in ensuring that your business  sustains.

  • Profits should not be your only focus. Yes, your business needs to churn out profits soon enough but keeping only profit as your target will only delay the process. A little investment in customer services, fancy ¬†packaging, freebees, and specially, on marketing, would show big benefits in some time. Cutting costs in the product that you are delivering is never a great idea because once your customers are unhappy with your product, there is no way they are coming back to you.

  • Never ever ignore a single feedback or forget to reply. Treat customer feedback as a bible. As a customer to many other products apart from your own, I am sure you will agree that one has special fondness and loyalty for brands which listen to their buyers. Have a dedicated team or time set to attend to customer feedback, reply to them and attend to the complaints, if any.

  • Don’t try to micro-manage. Take help. It can get overwhelming if you are trying to grow the brand single-handedly. Not only that, it can take a downward slide rather than reach the heights you dreamt of. No shame in taking help, in fact it is better that you let the specialists of each department do their things and move together towards a common goal.

  • Never shy away from learning. There is no age to stop learning so never tell yourself –¬†I know enough. You do not, because honestly, you cannot. The realms of business are ever-changing and a lot depends on trends which are evolving every single day. To take your brand up amongst the top players, never stop being a learner.

  • Don’t assume you will be successful immediately. Be prepared to face failures. Big or small, they will knock at your doorstep. And trust me, it is better to fail first and climb the ladder to success then to achieve success by fluke and then fall of the ladder when you are quite content with how things are progressing. Anything new has a teething process, so stay patient and don’t let failures disappoint you. Learn from them and turn them into chapters of your success story.

 

Samarpita Mukherjee Sharma

Samarpita eats, sleeps and breathes content and her life revolves around words. She curates contents for many brands, of which The India Diaries happens to be the closest to the heart. An economist by education and a wordsmith by passion, she chose the life of a digital nomad after quitting full time journalism few years ago. A multi-tasker, this ex-journalist freelances as a content creator-cum-curator, manuscript editor, travel writer and social media manager.

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