One mistake that has caused havoc in our generation is the mistake of attempting the role of a teacher faster than we have obtained adequate understanding. The effect of a teacher’s ability should be recorded in the lives of students, when students are able to prove the essence of knowledge acquisition, then a teacher should be praised. However, it is rather unfortunate that not every teacher is patient enough to get the basic requirements to assume the position of a teacher. Relating this to business, a lot of people fail in business because they fail to go through the required procedure of gaining knowledge before they move on to stand on their own and even become employers of labor.
The mistake of new people who are going into business, is that they have failed to learn from the experience of others, I came across a simple publication of a business owner who also wish he had taken adequate lessons before he jumped into business, this post might be useful for someone who is planning to get into the entrepreneurship train soon.
These entrepreneur who goes by the name Ramdev shared a publication and explained regrettable lessons he had to learn the hard way, he wished he had learnt those lessons early in life before going into the business world.
Lesson 1: Money is never all you need in business, people who want to go into business always want to get bothered about how they will be able to generate income, but much more important than a capital to start, there is a need for a good business model that will provide steady income.
Lesson 2: Not everyone you train will stay with you, you might train some people and they will decide to walk out of your business and that does not mean you should stop training people because you need to continue to train them.
Lesson 3: Always understand that there is a difference between you as the business owner and the business, affairs should not be mixed and priorities should not be misplaced. Putting personal emotional issues above business is certainly not healthy for the business.
Lesson 4: Clearly look out for the path that works for you, the business world is so large and if not careful, you may have misplaced priorities but there is a segment where you can carefully perform, so stick to that path and work at delivering the best you can in that field.
Lesson 5: Never become that entrepreneur that has no life outside work, some entrepreneurs basically work all the time and for years the cycle continues giving no room for productiveness at all basically because they have learnt somewhere that all that it takes to be an entrepreneur is to work hard.
Lesson 6: Never get into debt for personal needs at all and if eventually you find yourself in one, look for a way to stay out of it completely.
Lesson 7: You need someone who is going to mentor you through the process of producing excellent results in your line of business, so get a good mentor who will guide you through what you need to know.
With the right education, we avoid wrong pitfalls. This post is to in a little way prevent pitfalls for that young or new entrepreneur who plans to go into his or her own business either during this pandemic or when the pandemic is over. It is good to learn first before taking a step.