Entrepreneurship

How Young Entrepreneurs Distract? How to be on track? A Must Read Article

After this article you ‘ll be able to understand the different types of distractions early age entrepreneurs facing all around the world and how to overcome them and be on track.

Each and every person in this world wants to be a successful person. Although it’s a reality the meaning of success varies from person to person. Someone says having a specific type of living style is a success, someone says having that obtaining higher marks in exams is a success, and someone saying something else. It means for everybody the meanings of success are up to his/her current situation and future goals. When it comes to entrepreneurs, success means “the success of their entrepreneurship and product”. Isn’t it?

Every new entrepreneur starts its working with a lot of passion and enthusiasm, but due to some distraction listed below, he/she drops his level of passion. Let’s see what Sellers Playbook tells us about distractions and how one can get rid out of them. Let’s go

  1. Lack of technical knowledge
  2. Improper planning
  3. Don’t set a cash flow pattern
  4. Society discouragement
  5. Time management

Lack of technical knowledge:

technical-mind

An entrepreneur should be able to understand the technical aspects of the product and entrepreneurship. If one lacks in this area, it’s easy to dodge that entrepreneur by giving the wrong details. And also if one doesn’t know the technical aspects of products, their methods and about entrepreneurship, he/she ‘ll be dependent to someone else and that’s not good for a starting entrepreneurship.

Now how to overcome this problem? Simple is that learn and understand how product creates and other technical details related to your business. I ‘m not saying that you should be a master in all technical fields, what I mean is that you should at least able to understand briefings and reports submitted by your technical staff. Because it’s their duty to manage all technical aspects, but you should able to ask for reports and if you don’t know about technical terms and process, you can’t judge their performance, because probably they ‘ll give an OK report ever.

Read this article: Top 5 Services Based Online Business Ideas for Young Graduates

Improper planning

business planning

Every entrepreneurship has proper planning before startup, but what happened in real life, some entrepreneurs don’t pay attention to planning what they did before. This comes to create confusions and distractions for their future goals. There is the best quote for that type of situation, i.e. “A failure to plan is a plan to fail”.

So plan properly before start entrepreneurship. And if you have started, then stops whatever where you are and plan first to secure your position. Once you planned, do jobs according to your planning at the right time.

Read this too: 5 Steps to Succeed As an Entrepreneur

Don’t set a cash flow pattern

Cash Flow Pattern

One of the biggest distractions I also faced was that I didn’t set the cash flow pattern for my startup. And as time pass, I lost my interest in that business, because I didn’t know the right cash flow pattern. And because of it, I earned almost nothing or very less. Then it comes to me that “cash flow is your primary concern when you start a business (R. Kiyosaki)”. Now I am paying attention to this process, although I ‘m at a learner stage, what I learned yet is that your cash flow should be simple and not be more than 3 steps. Sometimes 4 steps of cash flow also works, but fewer steps are an ideal situation. Let me explain with an example, let’s say you create a product and wants to sell it, now if customers buy it directly from you, it means it’s just 2 steps cash flow and if you have a middle man then the cash flow is of 3 steps and so on.

Society discouragement

criticism-discouragement

Sometimes entrepreneurs distract due to society discouragements. We all have social relations in society, what we should do is manage them in the right manners. Stephen R. Covey wrote in his book: “We should be drivers of our lives, not passengers”.

Now it’s up to you that whether you choose to be a driver of your life bus or being passenger gives authority to others to detract you whenever and wherever they want. Never give up. Even if you made mistakes because mistakes are proof that you are still trying to do something.

Time management

time management Dreamstime.com

Time management is something really the most important thing in all aspects of our life. One should be very careful to spend time because time never came back. People say time is money but I think it has more value as compared to money because as time goes on your skills, environments, position, relations and much more, all are changing. It’s not just about money, it’s about much more.

Read this article too: How Young Entrepreneurs Distract? How to be on track? A Must Read Article

Manage your time in such a way that you have a proper schedule to eat, sleep and time for family. Most enthusiastic entrepreneurs always thinking about their work, entrepreneurship, future plans and they don’t realize that it’s their health and social relations which are much vital to support them in getting success in life. If you don’t give them time, you ‘ll no longer survive. So plan your time table in such a way that everything has its importance and value.

For more info read this article: What are the reasons for downfall of Yahoo!?

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Thanks for your time and goodbye until I ‘ll come with some other special article for you.