The reasons for business failure can be attributed to many factors but in most of the cases, it is the person responsible for running the business, the person who starts the business, the entrepreneur, who fails to realize his or her own follies, and unless this problem is taken care of, he or she is prone to repeating the same mistakes again.
Being an entrepreneur is not as easy task. If you suck at your job, it doesn’t mean that you’re doing it purposely or you are unable to see your mistakes. You are a busy person. You need to take care of 1000 things at a time. Nobody intentionally wants to sabotage his or her business.
Listed in this Inc.com article are 5 signs that tell you that you suck as an entrepreneur and what to do in order to make it. The gist of those signs are:
- The absence of enough growth: Growth is the lifeblood of your business. Whether it is the growth of your website traffic, the generation of leads, the subscription to your e-mail updates or the actual buying of your products and services, there has to be an upward shift on a week-to-week, month-to-month basis. The averages should move above. Of coarse there will be some spikes and some low points, but as already mentioned, the average graph must always rise. So constantly monitor your growth pattern and strive to keep it upwards.
- Very slow business evolution: We live in fast-changing times. If your business model depends on constant evolution and application and if it is not happening, something is not right. Were you supposed to release a new version of your software every month but it is taking 5-6 months to do the same?
- There is no communication with your customers: 99% of businesses in this world depend on customers and clients and if you are not constantly talking to them you’re never going to get a grip of what they are actually looking for and what is actually lacking in your product or service.
- You are not focusing on the real thing: Instead of following the actual results, you are following things that give you an ego massage, something like increased page views, the amount of money you have been able to raise and the sort of people you are working with, etc. How much business are you really getting? How much revenue do you generate? What is the feedback of your customers and clients? Is there an increase in the number of your business partners, and your customers and clients?
- You count too much on yourself: Although there is nothing wrong in believing in yourself, nobody knows everything. You need to talk to the experts. You need to hire talented people for skills you don’t possess.
