Being mindful of these pitfalls to avoid in business will take you a long way in your entrepreneurial efforts.

1.  Showing a Lack of Appreciation for Those Who Support You.

Remember that little things go a long way. Write a thank you letter.  Volunteering a service.  Getting a small gift.  These are all thoughtful ways to enrich and retain business relationships.  Don’t let technology make you lazy about being carefully showing your appreciation.  See HAVING THE ENTREPRENEURIAL SPIRIT

2.  Taking Business Advice From the Wrong People.

You can listen to what people suggest to you in business but be cautious as to what you will actually apply.  Bad advice can come from those who are sincere especially if they don’t have the results that you want in business, or if they don’t understand your goals or industry.  The wrong advice can also come from those who have nothing to gain or lose from your results and who simply want to share their theories just for the sake of being heard.

3.  Getting Into “Tongue Wrestling” Matches.

If you introduce yourself to a stranger and they don’t believe that your name is in fact your name –how long would you spend debating them? Naysayers don’t want to see you succeed.  Don’t allow their doubts about your ability to be successful in business make you question the value of your business or your own skills to see your goals through.  There was a young man who let himself be talked out of hundreds of thousands of dollars all because a family member told him that he wouldn’t be able to compete with a larger local business.  It turned out that someone who had faith took the idea and made the money.

4.  Feeling too High or too Low From Feedback.

This is a one of the stealthy pitfalls to avoid in business especially for creative type entrepreneurs who monetize their art.  If your validation comes from compliments and praise, then you leave your esteem at the mercy of other’s approval.  You’ll also begin to feel uncertain of your worth when people do compliment you.  Words of gratitude are nice, but don’t rely on them for motivation.  Also have the maturity to know how to handle criticism in a way that will benefit your future.

5.  Feeling Inadequate When Observing the Strengths of Others.

Don’t let your confidence shrink from looking at what your peers in business have accomplished.  You don’t know the resources that they have or the preparation spent to get to where they are. Focus on your personal success.

6.  Associating the Value of Your Business with the Price of Investment.

Your attitude may need to change from, “I would only be losing $1,000 dollars if this doesn’t work,” to, “I’ll be earning $100,000 when it does work!”

7.  Neglecting to Get On and Stay On a Personal Growth Program.

This is highly overlooked as one of the pitfalls to avoid in business because it’s about the business of you.  You will need more skills as new challenges arise in business.  You’ll never know it all.  Focus on key areas that can make all the difference in the world in enhancing your entrepreneurial career and your personality.

8.  Being Indecisive and Taking too Long to Develop Your Action Steps.

Planning is great, but you cannot just read, think and ponder.  When you have adequate information and resources it’s time to at least get started. You have to get out there and try something.  Shake some new hands, even if you don’t know exactly what to say. Launch that campaign even if you haven’t figured out all the numbers.  Consider this formula: Take Some Action + Get Some Outcomes + Make Some Adjustments x Have Some Faith & Belief = Achieve Success!

9.  Taking too Long to Develop a Simple System.

The acronym for system is: Save Your Self Time Energy & Money. A system is a series of processes that when applied, can nearly give you predictable results. Think of McDonald’s. They have a fast food system that is so reliable that teenagers can manage their operations. You may have to try a few things to see what will suit your business and your productivity.  If you want to get in shape physically, then having a practical and simple fitness system that plays to your strengths is key. Get a business system for marketing your products and services, following-up with new contacts, tracking costs, etc.

10.  Giving Up Right Before the Good Part.

Don’t quit before the callous. Be persistent.  On the other hand, don’t deceive yourself into believing that you are ready to have something that you aren’t really ready for. If you want to be a public speaker and you have a small budget to buy some dress shoes but instead choose to spend it on dining out, don’t kid yourself! You may not be as serious about business as you think.

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Written By: Waymon Brown. Creator of theesquireproject.com. Email info@theesquireproject.com