Whether you are a seasoned entrepreneur or a novice business owner who just got out of business school, there are some bad entrepreneurial habits everyone should ditch.
Some “bad habits” can cause entrepreneurial burnout, and as a business owner, if you notice any behaviors or practices that are doing more harm than good, you should take immediate action to eliminate them. Every business owner wants their enterprise to flourish, but sadly just a fraction of business ideas can operate for more than the first two years, and the reasons may go well beyond poor leadership. Let us examine some bad business habits that may hinder the growth of your enterprise.
Focusing too much on one thing
Focusing too much on one responsibility or goal while neglecting all the other business aspects can limit the growth of your company. For instance, you are obsessed with a “perfect business launch,” but you have not planned anything that you will be doing in the months following the launch. It can adversely impact your business.
Do you often catch yourself micromanaging? Whether you are micromanaging your employees or the contractors who work for you—you should identify it as a trigger word. No one likes to work with a micromanager. But it is one of the worst habits of many entrepreneurs. If you treat your business like your baby—it is natural for you to show the desire to control all of its aspects—but you must eliminate your micromanaging tendencies to ensure greater employee engagement.
Delaying the formation of processes and systems
During the initial days of development, it is okay to be relaxed. Your organization probably has a handful of staff, operating in an undistinguished location and dealing with a few clients. You have created a few rules to dictate processes, hierarchies, and behaviors—but you have to upgrade them with time to scale and boost sales.
Not prioritizing ‘thinking time.’
As a business owner, challenging tasks like problem-solving, deal closing, and managing a team may seem simple. And these tasks are undeniably important—but you cannot neglect “thinking time.” It is essential to schedule time for focused planning—granting yourself the time to see beyond BIG challenges to undertake strategic initiatives.
Not differentiating between activity with productivity
Try to focus on work that can set the wheels of your company in motion to push it forward. You should consider automating standard low-value activities to promote the expansion of the business and to improve your value proposition.
Lastly, we do know that most business owners are workaholics. But you should take occasional breaks from work to improve productivity and work efficiency.