by Nancy Laws | Featured Contributor
I am passionate about business and helping my clients not only grow, but to enjoy the process. Working with Fempreneurs and Mompreneurs is a unique experience that helps to catapult the empowerment that comes with business to a whole new level.
One thing I am honest about, however, is the reality of running a business. The easiest part of the business process, from inception and beyond, is that “lightbulb” moment. The moment that you finally get that perfect idea for a business, from that moment on, you will be challenged like never before, and only a few make it to the other side successfully.
The entrepreneurial mindset requires passion, sacrifice, a fierce devotion to our vision, and thick skin. You will look like the odd one out among your peers, you will have a work ethic that few will ever understand, but will help you stand proudly among the elite.
7 Deadly Sins in Business
What are the 7 Deadly Sins in Business?
They are the mistakes that will be your one way ticket to failure as a new business owner.
Walking Blind
Navigating through business with your eyes shut is like choosing to take a walk down a busy highway during rush hour, hoping that you will make it to the next exit unscathed.
It’s simply diluted, and a little insane!
You have to have a plan of action, a great business plan will prepare you for the challenges ahead. Having an understanding of your vision and goal, will allow you to communicate this same vision to team members and potential investors.
But even more than that, putting pen to paper, or finger to key, will help you to understand your own vision and future. Writing forces you to clean and organize your thoughts, and as a creative, will be a great way to encourage inspiration.
Taking it on Alone
As I mentioned, embracing the entrepreneurial mindset will mean that you will find yourself standing alone on many occasions, but it does not mean that you should choose to be alone. Surround yourself with like minded individuals that support not only you, but your vision.
Sit your family and friends down beforehand and prepare them for what is to come. You will need their support and insight throughout this process.
Hiring a great business coach is also a great way to find support as you transition from employee to self-employed. A great coach will not only be a great consultant, but a hands on team member as you begin to establish a foundation for your business. Informing you about tax laws, and the registration process in your state, and more.
Some choose to partner with other innovators, and to work as co-founders. Combining experience and resources to build a strong foundation for the business.
The Disillusion that Passion is Enough
Yes, we know the importance of passion, but anyone who believes that passion will be enough is sadly mistaken.
Although passion will take you a long way, it cannot stand alone, because experience, brilliance, work ethic, are just a handful of the ingredients required to cook up success in business.
This is precisely why surrounding yourself with a great team will be a necessity as you prepare to build a strong foundation. Surround yourself with brilliant strategists and innovators, that will help to offer you the capability you will need to achieve success.
Taming a Confrontational Spirit, or Simply Avoiding it All Together
One that I had to face head on in the early stages of my business, my unwillingness to deal with confrontation of any kind. I have always had a tame spirit, one that has been challenged often throughout my personal journey, because although I am fiercely passionate, I always preferred not to challenge others in an attempt to create a peaceful collaborative environment?
Some of you may ask yourselves, what could be wrong with wanting a peaceful collaborative environment?
You need a balance!
There are times when confrontation is needed, and avoiding will simply create build up that can hinder you at some point as you begin to experience growth and the challenges that come along with that.
Forgetting to Trust Your Gut
The importance of gut feeling tends to be forgotten as we get lost in the politics of it all in business, but that can be a mistake.
Gut feeling is what lead you down the path to entrepreneurship, a path that requires a combination of instinct, and innovation. Use these same instincts in the establishment of your business, as it applies to your vision, strategy, and team building.
Over-Confidence
Your gut and instincts are the bomb, but you don’t know everything.
The best leaders are able to prepare for the unexpected, and to take prepare their companies for unexpected shifts in the market or industry, where others fail.
To be a great strategic leader, you have to be able to notice small shifts, little changes that will sway the direction of things, and put a plan in action that will allow you to be at the forefront of this change.
Being able to turn a seemingly unbalanced environment is essential in the role of leadership, because they will come, and they will be unexpected and can derail a whole organization with lack of preparation. A great leader is able to use their skills to capitalize.
5 Insightful Ways to Approach Strategic Leadership
Sinfully Inept
An entrepreneur is resourceful, ready and willing to hit the pavement, prepared to do the research, and to find the resources needed to become successful, if you are incapable of at least shifting your mindset in order to learn how do this, you don’t belong here.
There will be many things that you will not know how to do, and may not be able to afford to hire somebody for, will you simply crawl into a corner and cry, or simply push those tasks to the side, allowing them to pile up?
There is a reason there are so many articles about transitioning from employee to entrepreneur, it is not easy, but the journey is full of excitement and challenges. Those who choose to follow their dreams are taken through a metamorphosis that will help to create a better you, even through failure.
What are some of the mistakes that you have made over the years, that would fit into one of the 7 deadly sins, and how did you overcome?
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Nancy Laws is a virtual assistant specializing in business blog management. Through her virtual business LawsWrites, she offers business support to Start-Ups, Bloggers, and Authors. She has headed business operations, social media marketing, project, and blog management, from her home in OH.
Nancy has loved connecting with other Mompreneurs through her blog Afro-Chic Mompreneur. She launched her blog, after moving from Maryland to Ohio. She needed a way to connect with other working moms, to share tips for staying organized as a woman on the move. A blog that started as a way of reaching out and redefining herself as a business owner, mother, and wife, has turned into the go to guide for the Mompreneur. Connecting moms with brands that help to simplify business, fashion, health, beauty, and parenting, for the mom on the go. Nancy has been featured on several sites and is currently a contributor to Theindiechicks.com.
Connect with her on Twitter, and Facebook.
2 Replies to “7 Deadly Sins in Business by @chicmompreneur”
Marga Dela Cruz
This list of bad business habits is a real eye-opener to everyone especially those who are just starting in business. When I was starting, I fell into the pit of starting the business without planning ahead. I learned that using business intelligence tools like mapping tools can be a tremendous help. The tools helped me to see my target market, and analyze the data in half the time.
Thanks for sharing this article. More power!
Nancy Laws[ Post Author ]
Hi Marga, I am so glad the tips were helpful, my first business was started on a whim as well, although similar to my current one, I was not prepared, but luckily we moved, which gave me the opportunity to start fresh and with planning and the use of tools and great support, it has been a better experience. If you need any tips or would like to connect, feel free to do so, I love connecting with other motivated Fempreneurs on and off the blog!