There are many entrepreneurs in the world. Some are super successful while most entrepreneurs are trying to find their way. There are many mistakes that entrepreneurs make, but by closely analyzing the journeys of hundreds of entrepreneurs (any entrepreneur ranging from the billionaires to the startups), I have been able to identify the three most common pitfalls that entrepreneurs face in their journey.
- The need to be perfect. Do you have an overwhelming need to be perfect and provide a product for everyone? If so, you will actually be creating a product for no one. In order to be a successful entrepreneur, you need to identify who your target audience is and create products and content that appeal to that audience.
- The status quo temptation. Once you become a part of the status quo, getting out is very difficult. Rising entrepreneurs face the constant temptation of joining the status quo where it is possible to make quick cash. At the same time, this quick cash is not nearly enough to live the luxurious lifestyles that some of the most famous entrepreneurs live. I’ll tell you one thing about the status quo. It’s not worth it, and I speak from no experience in the status quo and full experience as a successful entrepreneur.
- Overthinking. The only reason people become fearful is because they encounter uncertainty. Overthinking any situation allows that uncertainty to trap yourself into the fear you created. Instead of overthinking something, just get started. Many people fear public speaking at first because they overthink the situation. After the public speaking event actually takes place, these public speakers are not nearly as afraid because they are actually starting.
Do any of those pitfalls apply to you? If so, you have something in common with the entrepreneurs who quit, but you also have something in common with the billionaires before they became that wealthy. What are your thoughts on the list? Do you know of any additional pitfalls that you or other entrepreneurs fall into? Please share your thoughts and advice below.