Entrepreneurs: Avoid these Common Regrets

Do you look at Sir Richard Branson and his glamorous lifestyle and imagine how wonderful it must be to do what you love and do it on your own terms? We often hear of habits and characteristics that make for successful entrepreneurs, but we don’t often discuss the other side of the coin.

Are you an entrepreneur? Of course it’s impossible to avoid bumps along the way, but take a look at the common regrets below and do what you can to steer clear of them.

Being too conservative
Yes, taking bigger risks can have greater chances of negative outcomes – but there’s also a much greater chance of more significant gains. Once you’re established in your new company or industry it’s tempting (and easy!) to get comfortable with the status quo. Don’t look back in five or ten years and wish you’d done more.

Not being picky enough
Entrepreneurs are high-energy and want to see their visions come to reality as quickly as possible. As a result, sometimes they make hiring decisions based on their timeline rather than on whether or not that individual is the best possible person for the job. Be picky when choosing the folks who will be standing beside you, day in and day out, marching toward your end goal.

Not asking for, or being open to, a second (or third) opinion
Your vision and intuition is a central part of the reason you’ve become and are a successful entrepreneur. Still, seeking counsel from mentors, employees and colleagues provides another set of eyes and multiple perspectives. No matter what the final decision, being as informed and thoughtful as possible is key.

Forgetting the fun
You’re driven and you know the value of hard work and long hours. We know this is true. But pushing others to their max and not taking time to relate to your team members one-on-one leads to a poor work environment and could sabotage your company from the inside out.

Never stepping away
Stepping away from your work is important for reflection, for fostering creativity and for recharging your batteries. All work and no play can not only lead to burn-out, but can also cause you to damage relationships with family and friends and negatively impact your health.

Are you falling into any of the patterns or traps above? Any of those sound like you? If so – try to make small changes to ensure you’ll look back without regret.