Personalities That Businessmen Should Avoid: Tips For Start-up Businesses
In recent years, we have seen a huge rise in numbers when it comes to business and investments that started from scratch. But not all progress since there are some differences between successful ventures and busts. Yes, it has something to do with our employees’ quality of work but the main thing we have to consider are the choices we have to make to become a successful businessman and the personalities we need to adopt.
We have seen many tips on how to become successful and most of us probably got a trait or two from the list. However, we would like to point out what we generally need to avoid. This way, if we can see ourselves in a similar situation, we can prepare ourselves ahead of time. So let’s get started.
Common Personalities Of Businessmen That Didn’t Succeed In Business
●A Businessman That Starts A Lot But Never Completes The Job
Robert Collier once mentioned that “If you don’t make things happen, then things will happen to you.” We are certain that once or twice in our life, we start things, we draw plans, and we hope to succeed in our business venture. Yes, planning our future is a big game-changer. However, if we don’t stick with the plan, don’t finish what we started, or simply ceased our venture because of certain issues, we will not get anything in return.
This instance will lead to another series of personal issues such as feeling unmotivated and have a drop in our morale. These are the things we need to avoid, especially if we are just starting our investment. We may also develop a habit of dropping off a project halfway until we realize that we haven’t completed anything in the list, pretend that we can always get another chance, or worse, wiping the slate clean and draw out a new plan from the ground up.
Like all successful business owners out there, they persevere even if there is a little chance. They also show a huge amount of dedication and discipline and eventually, it becomes their habit.
●A Businessman That is Selfish
Drive and motivation are different from being selfish. Being selfish will only benefit yourself, while motivation will help you grow in a more steady pace and let the people around you develop.
A prime example of this would be referrals. Many successful investors always prefer a business that gives recommendations and referrals to others. This is like an investment partnership, but this time, you’ll give them the information that they need. In return, in case you’ll need to get ahold of someone within their network, they will gladly point you in the right direction.
●A Businessman That Makes Up Stories And Lies
An entrepreneur that lies is most likely susceptible to stealing and eventually cheat his way up to the top. We have all heard the phrase “nothing personal, just business,” if we found ourselves surrounded by these kinds of people, we need to keep our guard up and be wary of the things they say.
If they happen to tell you their stories about their recent exploit, think deeply and analyze that if they are doing this to others, they can do it to you as well. Also, if we notice that we are showing early signs of this trait, we need to clear our minds and think that honest business is a good investment. We also need to stay true to our intentions, remember, all seasoned investors have come across all kinds of people so they may already have a few impressions and thoughts about you and how you run your ventures.
●A Businessman That Does Not Take Risks
Calculated risks and recklessly doing actions are two sides of the same coin. They will never coexist with each other and many investors mistakenly took one for the other. Also, not taking any action or risks will result in nothing so we need to break these details down.
A person who exhibits a creative mind but lacks motivation and actions will most likely not succeed in their business venture. We have also heard people talking about their master plan to others, showboating what they have in mind and only to find out that the other person has already adopted their idea. The bottom line about this is we need to convert our thoughts into actions as soon as possible because investments and other business-related stuff will not wait for you forever.
If we choose to take action, we need to keep in mind how we should approach the plan and the best course of action we need to take. Firing the gun without aiming has a one-in-a-million chance to hit the mark, which means there is a big chance that we will fail.
That is why we need a concrete system that outlines the step-by-step procedure and the most probable outcome of that plan that we’re taking. Asking for advice from seasoned veterans also increases our chance for successful investments since they already have the experience and insights.
It is understandable that many people fear the unknown, especially if they are blindly moving forward. We have to equip ourselves with knowledge and we need to balance the risk and reward factor. After doing all these preparations, we are certain that most of us will not worry about any future loans and other credit-related issues.
Starting a business is a daunting task and we hope we were able to help you with your money management concerns. Just remember that even the most successful businessmen didn’t jump from a start-up company to a multi-million dollar venture in just one day. We may face roadblocks and we may even fail but the main thing here is to work on our weaknesses and fix them so we can become better.
Based on Materials from Miss Penny Stocks
Photo Sources: Pixabay, Videoblog, Flickr