BUSINESS: Putting your best foot foward as a young entrepreneur

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By Jim Pagiamtzis
July 3rd, 2013 Edition

In the journey of building your business there are some fundamental steps entrepreneurs attempt to do (or not do at all) that would affect business, growth, resources or making a profit. Below are areas that they must deal with or get assistance to complete for them to survive.

Fear (False Evidence Appearing Real): Fear is something that society does very well through friends, TV programs and media to instill a lack of confidence, convincing the entrepreneur to think that they are unable to succeed. This is not the case at all.
Procrastination: I hear this a lot “I do not have any time”. This excuse can be used as a mental block, but they are not using their time productively. To much networking, meeting people and failure to follow up is a common rut to get stuck in. Being able to network and share is important. The ability to follow up with your contacts and increase your resources is a very important step.

Self Promotion: Being able to network and offer value is an important priority to accomplish. Self promotion is a key to networking. Often times in a conversation the entrepreneur does not share what they do. Again it comes from a lack of self confidence issues that they either don’t want to share or they believe it’s not of value to the conversation. We all have something of value to share, it’s a missed opportunity not to do so.

Connection is Key: The number one thing a person likes to talk about is themselves! Entrepreneurs often attend events, speak with multiple people, and walk out empty handed. How is this possible? It comes back to a lack of inner confidence and the ability to be able to share what you do and listen to the other person, and then exchange business cards but fail to make any follow up notes or believe there are no possibilities to further connect.

Follow up – Follow Through: Having a system is an important tool to succeed when you are networking. Going out and collecting business cards and putting them in a box is not a method of success! 24-48 hours is a great rule of thumb when following up with connections. It is a simple process and very easy to do. Not doing this is a big waste of your time and energy yielding no results.

Lack of Habits: This a very common factor that affects entrepreneurs; laziness and not having a plan to execute. You have to be in control of your environment and what you are taking in. You are a direct reflection of those you associate with. Watching hours of tv, listing to the radio, and spending time ineffectively can negatively affect your thoughts and work ethics. Your willpower and personal abilities do not have the energy to realize they are not doing the right things to improve your day.

No Go-Giver Mentality: Expecting a return every time you do something for others is a sure path to failure. The ability to be able to give is an important trait to have when networking. Bob Burg Author of “Go-Giver” states “Changing your focus from getting to giving, putting others’ interests first and continually adding value to their lives, ultimately leads to unexpected returns.”

Being aware of these mistakes is a great way to start you on the right path for success for you and your company. Following these suggestions will not only affect your business growth, but help your profits soar!

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