* Lack of order
One of the devastating mistakes that entrepreneurs also make is working without a specific and clear system. Once you start to appear and get customers, make sure your systems and processes are in place, such as payment terms, contracts, and communications, while still maintaining your marketing strategy. Internal processes must be well-established before you start dealing with customers. If they are not, then these are the glitches that will definitely pop up and look unprofessional.
Organization is one of the keys to success in any business, and you, as an entrepreneur, must also be organized and able to manage time and priorities. You should always remember that running a business is like being in your secret arena, where many things happen at the same moment, so having a daily to-do list is important, and you have to include it in order of priority. It looks simple, but it works, and it makes you more productive. It is also important to have a tight bookkeeping and accounting system. The idea of bookkeeping helps you make smarter business decisions, identify opportunities early, and avoid problems before they become unmanageable.
Bookkeeping will also help you understand your finances and keep your financial business in good shape. Bookkeeping practices also ensure that you are aware of issues such as tax and insurance payments that can cause problems for the company later on.
* Not carrying out legal procedures for commercial activity
One of the biggest mistakes entrepreneurs make is not registering their business or choosing the right business entity to protect their intellectual property. Legal matters are essential to starting the business properly. If you forget or overlook these things, it will cost you a lot of time and money. Also, as an entrepreneur, you have to remember that no matter how strong the relationships are, they can come to an abrupt halt when systems and agreements are not put in place from the start.
So when there are partners or shareholders, you should write a contract to clarify the partnership system in order to serve as a legal basis when any dispute occurs.
* Trying to do it all
Working with a dictatorial mind and thinking alone without being surrounded by wise advisors will also expose you to many problems. Don’t try to run a new project on your own; find experienced and trustworthy partners and prepare them to discuss your business ideas, strategy, challenges, and progress. Wisdom and strength reside in the multiplicity of consultations.
Encourage four to six people to join your company as consultants in order to receive continuous feedback so that you can minimize your mistakes. Also try to give some powers to the employees in your company, and remember that you have to get rid of any task that others within your company can do well, and you have to devote yourself to thinking, planning, and development.
