Your ideas shape the course of your business, but your thoughts are what shape your everyday behavior, you short and long term plans and your actions. Many entrepreneurs fall into the trap of letting misleading thoughts affect their decisions, which can be very harmful not only for their companies, but for themselves as individuals as well. Here you can find three of the most common misleading thoughts that can harm your business decisions – the thought that uncertainty is part only of entrepreneurship, the thought that people owe you just because you run a startup and have great ideas and the thought that your assumptions can be always correct.
The uncertainty of entrepreneurship
The uncertainty of entrepreneurship has been widely-discussed topic and a main reason why many people give up on their startup ventures. It clearly is good enough reason for a person, who believes that there is something certain in a regular corporate job. But often we tend to forget that the corporate jobs are not as stable as we think: how many companies are downsizing their businesses or even worse, how many of them are going bankrupt. The truth is there is nothing certain in business and in life. The only thing that you can be certain about is your passion and vision. Find what makes you happy and brings value to the world and just do it. Don’t jump for the money. Money will eventually come if you are making a difference!
The idea that investors MUST invest in your business
We often give advice to entrepreneurs how they can win funding for their businesses and get the attention of angel investors and VCs. Unfortunately, many of these entrepreneurs tend to believe that if they follow all advice by the book it will be enough to receive the money that they need. Well, nothing is that simple! Especially in entrepreneurship, where people look for ideas and innovation, you can’t make the assumption that one great pitch is enough to make you win impressive investment.
Don’t make the wrong assumptions that just because some investors have agreed to listen to you, they will take out their checkbooks right away and start writing down zeros on a check with your company name on it! Be realistic and concentrate on your product or service, not on the idea that people have to invest in your business just because you showed up at the meeting!
The wrong assumptions some entrepreneurs make
Many entrepreneurs tend to make assumptions that are not based on any solid arguments. If there is something unclear to you – a message from the investors or you sense different behavior from one of your team members – doesn’t mean that something is terribly wrong. Don’t make wrong assumptions without having clear information about what is going on. Remember that the key to success is in the details. Before you react on something, make sure that you have got it right!