5 Terrible Business Habits You Need to Change

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5 Terrible Business Habits You Need to Change
Wolfgang Pinegger

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Wolfgang Pinegger

May 25, 2018

If you want your business to move forward you have to drop some of these habits.

Terrible business habits cost time, money and reputation. You just can’t afford to be wasting any of these resources if you plan to make it in the business world. And while some habits are easier to break than others, you should always aim at the absolute perfection.

Some of the things that are, probably, standing on your way are going to appear on this list.

Planning

While there are certainly people who spend too much time planning and never get into action mode, there are always those business leaders that just believe they can “wing it”.

One of the most common mistakes in business is the lack of planning and preparation for various scenarios. You should always be able to predict what happens after you make a business move and have a reaction plan. The last thing you want to do is for things to go bad and then blame it on your employees. You are the leader! You are responsible for everything that happens in the business you are managing.

Once you commit to a certain plan, make sure that you follow it up without much doubt. Because if you stop half way, then it wasn’t much of a plan, was it?

Focus Too Much or Too Little

Managing a business sometimes leaves you without much space to breathe. Worrying about the business, paperwork, employees and, if you have one, a family is going to drain all the energy out of you and it will deeply affect your business. You will try to balance many things at once, but once the ride becomes too fast, you will start to lose your handle of the situation and things will roll downhill. And once everything starts rolling, problems are only becoming bigger until they reach the bottom. If you are easily losing focus, try to make a priorities list that will get you through your working week.

Also, don’t focus your full attention only on one problem, because then the work will never be done. If you are pushing all your time and energy in what is only 10% of your business, it is probably a bad idea.

How to Break Bad Business Habits

Being Stubborn

Business doesn’t revolve around you, no matter how much you want it. There has always been a reason why your private and business persona should not be one and the same. Mostly because in private life you are guided by more emotional decisions. If you are being emotional in business, that can be a terrible business habit.

If you get your ego mixed up with the equation and believe you can’t make mistakes and ‘your way’ has to be the only right way to do business, you are going to have a tough time.

When you deeply think about it, you probably started a business to make some dream come true or even more simple, to make money. And you are not the one who brings the money, it’s the customers.

So divert your attention to the customers and potential customers and think about what they want and need.

Not Taking Risk

And while taking risk can be in direct confrontation with planning, it can also be its part in the form of calculated risk.

If you are feeling comfortable with your business model and it gives results, always try to think of new ways to make it better than the competition. And while you might not want to completely destroy the competition, you can’t expect them to have the same attitude towards yours.

Risk can come in many forms – getting more expensive equipment, giving a job to an unexperienced worker, moving to new location… but it should always come as a result of careful thinking and planning. Once you have all the pieces in place, take a leap of calculated faith.

Just don’t forget that you should not be jumping over a river, but over small ponds.

Perpetum Mobile

And while I said that your business and private persona are two different entities, they reside in one body. And sometimes, body just can’t handle pressure that its getting from all the sides.

You should always take a couple of days off here and there or even a full vacation when possible. If you are feeling comfortable with your team, and things are going without (too much) hiccups, you should use the time to do something that will influence the recovery on both body and mind.

Physical and mental health are prerequisite for a successful leadership of business.

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9 Tips to Make More Money in Your Business

4 Skills Every Entrepreneur Should Have

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