How To Know That You Are A Terrible Entrepreneur

How To Know That You Are A Terrible Entrepreneur

Entrepreneurship goes beyond just handling any kind of business. Everybody can handle one business at one time or the other but not everybody has what it takes to be an entrepreneur. There are qualities you possess that should enable you to know that you are a terrible entrepreneur.

The essence of this article is to enable you to make changes regarding some of these attitudes or behavioral patterns. If you are guilty of all of them, then you should know that you are a terrible entrepreneur. There is no doubt about that one.

Related: 6 Strategies that drive successful entrepreneurship in Nigeria

You could also be guilty of one or two of them. Your situation is not extreme. You can make amends easily and save your startup from collapse.

Without wasting much of our time, we will move on to elaborate the signs that should enable you to know that you are a terrible entrepreneur.

Tips On How To Know That You Are A Terrible Entrepreneur

know that you are a terrible entrepreneur

  1. Spend Before Saving

According to Shakespeare, before you spend, you should earn. This is true for a normal everyday individual. However, for an entrepreneur, it is so not cool. Before you spend, you should save. Savings are important sources of investment and investment is crucial to the success of any business enterprise.

Also read: How entrepreneurs can become more successful according to James Clear

If you are into the habit of spending so much money as an entrepreneur before saving, you are definitely going to have it rough. You will not go far because your cash flow will be stunted. Form the habit of saving so that you will have enough to invest.

  1. You Treat Your Employees Like Robots

The way you treat your employees will determine if you know that you are a terrible entrepreneur. The employees are the livewire of your company. You will need to treat them right for them to perform optimally.

The great entrepreneurs have found ways to bring the best out of their employees. Trust me; treating them like robots is not one of them. The nature of human beings suggests that they respond negatively to degradation.

Build a family like culture among your employees and make sure that they see the project as theirs too and you will see them giving you their best. Remember, it is a two-way thing. You give them your best and they give you their best. Everybody wins eventually.

  1. When all you want is quick money

Money is necessary and profit is the major reason for starting a business. For entrepreneurs, there is always a process of acquiring this money. It doesn’t always come in quick succession.

When you are in search of quick money, you are definitely going to get it wrong. The most important thing is to build a structure that will, in turn, build your pocket. Rushing to make quick money makes you a bad entrepreneur. Long term plan to financial freedom is the key.

  1. You want to handle everything

There is a thing as delegation. You cannot make a good entrepreneur when you cannot trust other people to handle certain tasks for you comfortably. When you micromanage a lot, you will have issues to contend with.

  1. You can’t put a hold on your emotions

A major aspect of entrepreneurship is training yourself to become intelligent emotionally. If you cannot do this, then you know that you are a terrible entrepreneur.

There will be days of plenty and days of lack, ups and downs and days you will feel there is nothing for you in the entrepreneurial sector. If you are not prepared for these eventualities, you are likely going to give up before you have even started.

  1. You don’t take responsibility for your mistakes

You are going to make mistakes. Brace up for and take responsibility for it. Don’t act like a coward and push blames on other people. If you are in the habit of pushing blames on other people when you should take up the blame, please know that you will make a terrible entrepreneur.

  1. You Lack Empathy And Compassion

Your colleagues and employees will go through tough times as you too can. It is your responsibility to handle them carefully and show them the love and care deserving of their commitment to you. You will have to learn how to show sympathy and compassion when they are in need.

The ability to understand that you have to connect with your employees emotionally will help you make the right calls regarding their place and commitment to the company.