10. Working on unprofitable activities.
What should you do first? The task that is tied directly or indirectly to a profitable end result.
It’s easy to get “busy” with stuff and then find that your business is no different than it was a year ago. For example, you can’t spend your days pinning on Pinterest, posting on Facebook and over-zealously tweeting on Twitter while ignoring more important deliverables in business. If your main business activities are not linked to a larger goal or umbrella strategy to move the needle on some level – step away from your laptop and reboot.
11. Bonus tip: Asking other to invest where you have not.
This sage advice is geared towards the fledgling entrepreneur. It’s what most people will think quietly, yet keep to themselves when you ask for $50,000 to launch your new startup.
Before you ask for one single penny from your friends, family an investor or Kickstarter, ask yourself this: “Would you invest in you?”
If you refuse to put a single dime of your own money into the pot – why would anyone else? In other words, you can’t necessarily expect a crop where you haven’t sown and you can’t turn over a field where no seeds are to be planted. In short, start where you are, invest in yourself and let your results on the pitch deck talk for you.
What are some more bad business habits that entrepreneurs should break? Let me know in the comments section below.
Connect with Erica Nicole on Twitter.
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