The Entrepreneur’s 8 Most Common Pitfalls

by | Sep 4, 2017 | Business Foundations, Personal Development | Mindset | 0 comments

Episode 18 Show Notes

In this episode, I share eight of the most common pitfalls that entrepreneurs experience today.  I also give you a solution for each of these pitfalls so you can get back to using your time intentionally and positively to progress your business forward.  

#1 Not accounting for every minute of your working hours

We all have a limited amount of time to work on our businesses.  If you don’t take the time to account for what you’re going to do within that given timeframe in advance, there is a high likelihood that you’re going to waste some of that time or not get the very most out of that time.

Solution: Go into your day with an established plan. When you plan in advance you build an inner confidence and a direction for your day. In doing so, you’re positioning yourself to avoid wasting time trying to figure out where to start.

  • + Organize your desk so that only what you need is available
    + Plan out what you’ll do in advance
    + Assign timeframes for each task
    + Schedule your breaks
    + Use timers, especially when you take breaks

#2 Comparison

This pitfall is a damaging distraction. The time you spend  ogling someone else’s business is time you could be using to win in your own business. Be happy for others but if you can’t be happy, stop looking.

Solution: Do work that you love and keep your eyes on your own paper and what you bring to the table. The more time you invest in the work that you love, the less time you have to compare yourself to others.

#3 The Story We Tell Ourselves

So many times we are the reason for our regression or lack of progress in our businesses because we tell ourselves some story that we come to believe. This is often backed by fear and many times these fears create unnecessary anxiety. If the stories that you tell yourself aren’t based on facts and faith, let them go.

Solution: Focus on what is right before you and the things that are within your control. You don’t have to live the stories that you tell yourself.

#4 Getting Bogged Down By Minute Details that Do Not Matter

It’s common to spend massive amounts of time focusing on little details like color schemes, business names and logo fonts. None of these things are going to get you paid. Getting bogged down in the details prevents you from doing work that matters.

Solution: Set a specific amount of time to decide on the less important things and spend the majority of your time working on the things that you’re creating for your audience.

  • + Know there is always time to adjust and change later
  • + Take inventory of how you’re spending your time
  • + Spend time doing work that takes care of your audience and stop worrying about vanity

#5 Trying to do what other people do assuming that it will work for you

Another pitfall is trying to do what others do with the assumption that you will have similar results.  If you try to replicate what someone else has done without making it your own, your results will not be the very best they can be (and likely will be unsuccessful). 

Solution: Seek wise counsel and ask questions. Find someone who’s doing what it is you want to do (successfully) and take away the principles to then make it your own and apply the principles to your business in a way that fits your priorities.

#6 Being too easy on yourself

Instead of challenging the status quo and creating opportunities where it seems like there are none, many are much too easy on themselves.  Far too many people find excuses and don’t push past the limitations.  When you don’t push yourself you won’t be able to see what you can truly accomplish.

Solution:  Get rid of the excuses and stop finding all the external reasons why you’re not successful and look within.

  • + Surround yourself with people who challenge you to be better
  • + Find a mentor whose values align with yours and who has a proven work ethic and stay in their presence
  • + Find an accountability partner

#7 Being too hard on yourself

Do you find yourself criticizing your work more than your success or your strengths? Do you find a way to take away from your wins? You may be too hard on yourself and diminishing your self-confidence, causing you to waste time focusing more on what you haven’t done rather than on the good things you’ve accomplished.

Solution: Remember the big picture and how day by day you’re working toward your goal. And it’s ok to have days when you don’t feel like you have it all together. Focus on the things you can control and fearlessly let go of the rest. Always do your best and celebrate your wins in business and in life.

#8 Being “Busy” and thinking that means something

I eliminated the word busy from my vocabulary when I realized how little meaning there is behind the word. Being busy usually means you’re not being productive, but moving around existing without purpose or intent. It doesn’t suggest that you’re doing things that matter. When we are “busy” it means that we haven’t prioritized or been intentional to do the things that matter first.

Solution: Be intentional with your time and prioritize. Take everything work related off your plate and with a clean slate add in your current deadlines that involve your customers or clients relying on you.  Next,  add in work that is tied to meeting the needs of your customer or income generating activities.  Add everything else that was keeping you “busy” to a running list and only focus on what matters. Commit to prioritizing yourself.  If you find that you’re too busy to take care of yourself you run the risk of losing everything.

Highlights

  • Pitfall #1: Not accounting for every minute of your working hours [00:03:57]
  • Pitfall #2: Comparison [00:12:38]
  • Pitfall #3: The story we tell ourselves [00:15:23] Pitfall #4: Getting bogged down by minute details that don’t matter [00:19:21]Pitfall #5: Trying to do what other people do assuming that it will work for you [00:26:48]Pitfall #6: Being too easy on yourself [00:31:34]

    Pitfall #7: Being too hard on yourself [00:47:15]

    Pitfall #8: Being busy and thinking that means something [00:43:29]

Action Steps

  • Acknowledge which of these pitfalls relate to you and commit to writing out a solution to help you, day by day, to overcome the pitfalls that are hindering you and your (business) growth.  As always, I would love to hear your takeaways! Tag me over on Instagram or share with me within my FREE Facebook group!

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Hi there! I’m Shunta, I work with women who seek success in their businesses, but not at the expense of joy in their lives!  I teach them how to build and grow successful businesses that keep customers coming back time and time again. When I’m not helping women run businesses they love, I’m reading a good book, taking a class at the gym or walking the aisles of Target and TJ Maxx with my daughter Zoe.  If you believe that both your business and your life can be filled with joy, come hang out with me here on the Business, Life & Joy podcast.

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