Entrepreneur Traps To Avoid

Gotcha! / Te pillé!
photo credit: pasotraspaso

There’s a 98% chance your idea will have gone nowhere, and you will still be working at your job and struggling to make ends meet. What’s the difference, then, between the 98% who fail and the 2% who succeed? One answer is that successful entrepreneurs avoid the traps that stop everyone else from succeeding.

Don’t let yourself jump at every single opportunity that comes your way. This will prove to be quite detrimental to your current idea and business. Stick with your original idea and business model. Yes, your business model and business plan may change here and there, but should always keep the original concept.

I’ve talked about the “bright shiny object syndrome” in the past before, and it applies here as well. You go from seminar to seminar to seminar before ever sitting down and implementing the information you took from the first seminar you attended. Before long you have piles of information and nothing to show for it but lost time at all those seminars. This is a form of the “bright shiny object syndrome”.

In the end always make sure you know right off the bat who you will be targeting towards. If you pitch your idea to someone and your all geeked up about it and their first question is “who do you think will use this product or service?” and you can’t answer them, you have to do some planning and re-thinking somewhere.

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