You’re Not Ready to Start Your Own Business If… 1

I believe there is an entrepreneur in each one of us but I also know that many people start businesses for the wrong reasons or with the wrong mindset. If you want to launch a startup; be sure you’re not making one of these 15 common mistakes. Consider why you really want to be your own boss and correct mistakes in your thinking before you make big mistakes with your business.

  1. You Think You Need a World-Changing Idea

We’re not all creative geniuses or revolutionary thinkers. You don’t have to reinvent the wheel to be a successful entrepreneur and you don’t have to remake an industry. Innovation starts with being inspired by others, seeing a better way of doing something, or just noting a problem that isn’t being addressed adequately or at all by anyone else.

  1. You Think You Have to Take Incredible Risks

Most people buy into the myth that entrepreneurs are all mavericks: people that leap off tall buildings without a safety net and somehow soar. The truth is that most successful entrepreneurs do all they can to minimize risk. While it may seem that their moves and decisions lie far outside the norm; entrepreneurs do their homework, test their ideas and know what is desired, what they’re capable of and what they’re comfortable with. Successful entrepreneurship is about carefully calculated risk.


  1. You’re Desperate to Quit Your Job

You may hate your job so much that it’s killing you. You may be working so hard for so little that you cannot survive or support your family as you must. But desperate people make desperate decisions.

You shouldn’t open up your own business because you’re running away from something negative: entrepreneurship is something you run towards because it empowers you and helps you fulfill your potential.

The process of learning about yourself and the work you’re best equipped to do is liberating and exciting.

Don’t open up just any business just to get free of your boss, your stress or your debt: take the time to get in the right head-space and discover your unique success formula while you still have a steady paycheck.

  1. You Leave Too Much Up to Luck or Faith or Destiny

Two common characteristics of successful entrepreneurs are self-efficacy and a moderate to high degree of “locus of control.”

Self-efficacy refers to your belief in your abilities and your belief that you can learn what you need to. Locus of control refers to how much you think what happens in your life is something you can influence and control.

You build self-efficacy with self-awareness, learning and skill-building. Increasing your locus of control comes with this kind of genuine confidence, self-awareness and empowerment.

Many entrepreneurs do credit their faith, do credit luck and timing, do credit forces outside their control…but…they also believe good things come to those that help themselves.

Destiny isn’t just a matter of what will happen to you when you are born. Destiny is also influenced by what you do and decide about how your life will be lived.

  1. You Want a Magic Bullet

You may think: “I don’t know what I need to do. I don’t know how to do this. I’ll find a program that lays it out for me, a plug-and-play blueprint for startup success, and then I’ll be set.”

No matter what any “expert” says: the real expert is you. Creating a successful business, discovering the business that is best for you, figuring out what strategy will work for you and your business requires research and work.

While there’s much to be learned from professionals and much to be gained from educating yourself; the bottom line is that determining what is right for you and your business takes integration of knowledge—not an abandonment of critical thinking and judgment.

If plug-and-play systems really worked; everyone would be successful.

You have to take what you learn and tailor it to you and your business and you have to apply the right strategies at the right time in terms of what stage you and your business are at.


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