3 Mistakes to Avoid as an Entrepreneur

Entrepreneurship is always ride full of ups and downs, a moment thinking its going fantastic and other thinking the end is near. Understanding and acting upon mistakes is the only way for a company to survive. Here are 3 costly mistakes you should avoid as an Entrepreneur. 

Mistakes to avoid as an Entrepreneur



I always believe there are two ways to win in a knock-out race-
    1. Always be ahead and maintain it till the end of the race
    2. Not lose at any cost.
The same applies to the startup,
When i was talking to few of my Promising Entrepreneurs, I analyzed few mistakes that could potentially mark an end to the company. 

3 Mistakes to Avoid as an Entrepreneur

1. The Incremental Progression

What's Incremental Progression?
Incremental Progression is progressing in an incremental way inspite of having potential to grow rapidly. This is a very common practice not only among the employees so as to 
  • Make the company/Client depend on them for longer period and hence be important to the company 
  • Stay in a comfort zone and Avoid stress
  • Draw better salaries

Incremental Progression

Companies who does this?
  • Google : How tough was to launch carousel based ads in Youtube Or Gallery Ads in Search for Google? Was the ideas never thought of or was it intentionally delayed?
  • Linkedin: Linkedin Ads doesn't have device-wise targeting yet and do you think they won't roll it out?

But Why do Companies do it?

Almost the same as reasons why employees does it.
Be important to the customer and make them identify as evolving brand, Make better money.

How's Incremental Progression Bad?

Directly or Indirectly managers bring up the concept of incremental progression to their employees, so employees though knowing how to finish the tasks in lower amount of time/ make better work won't do it thinking they should save it for the coming days as they won't be left with any ideas to work on in future. This attitude suppresses next level ideas that would make company out-beat their competitors in a very short span of time. It might also because of lack of freedom/importance for the millennials in the company.

Solution:
  • Increaisng the excited state ratio of your company
  • Platform and Freedom for ideas to be experimented
  • Supporting "No Task Procrastination" Attitude in the company

To be continued.





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