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Created on: June 29, 2009
When you started a business, the end results will not always follow your initial plan. The results will be worst for those who are not a good planner or have bad character traits that are not suit be an entrepreneur. If you cannot change your bad character traits and your business plans according to the market trends or business needs, your business will fail.
In order to avoid being an unsuccessful entrepreneur and being a failure, you must avoid the below bad character traits.
Don't delegate. In other words, you do not trust your people. Delegation doesn't mean you have to delegate every single job to your people. Since you have recruited many competence people, let them perform part of the jobs for you. You, as an owner; have many more important role to perform; especially start doing your part on business development. Can you imagine, what will happen if you stay in the office everyday, doing all the office routine work yourself?
Give up easily and not creative. To start a business is not an easy job. You need to be creative and strong; especially physically and mentally. Every company cannot escape receiving feedback; negative or positive feedbacks. Nobody likes to receive negative feedbacks. As an entrepreneur, you must take the negative feedback and treat it as an improvement. You must think creatively. If you give up easily every time you received negative feedbacks, there won't be any improvement on your products or services. Products or services that are not undergoing an improvement won't be great products. As a result, your customer's satisfaction will be reduced drastically and lastly, your customers will stop buying from your company. But, the process won't stop here; your customers will talk about your products or services; your company will get bad reputation. In order to avoid the incident to happen, you must never give up easily and think creatively on how to solve and handle the existing problems more efficiently.
Blame others on mistakes. You do not like to take any responsibility to admit your company's mistakes. Remember, you are the owner of the company. With this bad traits; normally, you will put all the blame to your people, your customers or even your suppliers. This is not an ethical behavior. As an owner of the company, you have to be responsible to admit the mistakes done by your people. No doubt that your people should be responsible to their mistakes but you cannot divulge it to your customers. Your customers are not interested
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