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Three Big Mistakes Entrepreneurs Make When Starting Businesses

All too often they let naysayers discourage them, they fail to listen to market demands, and they don’t delegate enough.
“There’s no way any company will engage you rather than McKinsey,” the man scoffed. He looked at me with a mix of contempt and sympathy, the way people often look at beggars, and I would have been smart to heed his warning. After all, he was a senior executive at a big company, had an Ivy League pedigree and was part of the WASP-y country club set. He should know if my business idea was worthy. It could not be done, he concluded, and I should stop before I even started.
Fortunately for me, I’ve never been good at listening to detractors. I ignored his advice and the criticism of others who said I couldn’t open a Miami CPA Firm focused on small businesses in the middle of a recession with small businesses closing up shop by the thousands. Two years later I’m still here, and I’m having a ball every time a company picks us over one of the big firms. We do more than accounting, we’re consultants first. A value added service sorely lacking from most accountants business offerings.
A lot of people told me I couldn’t do what I was setting out to do when I was setting up my second company, the Miami SEO Consultants Inc. I can’t even count how many people looked at me like I was a naïve fool. But that didn’t stop me. I couldn’t let it. All entrepreneurs receive more criticism than kudos when starting out.
A key mistake many entrepreneurs make is letting detractors get them down and discourage them. Entrepreneurship is about disruption, changing the world order and doing things no one else thought possible.
Do you really think anyone told Steve Jobs at Apple that he could beat Microsoft? Or that anyone advised Bill Gates to drop out of Harvard to consign typewriters to the trash bin forever? I wonder how many people thought Howard Shultz could make people pay $4 for a cup of coffee at Starbucks when they could buy it for a buck at the corner store. Probably 9 out of 10 would have thought all those people were nuts. Now look who are the billionaires.
Never let the haters, bozos or naysayers stop you as an entrepreneur. You will run into a lot of them. I still do every day. Of course you can’t get so arrogant and pig-headed that you stop listening to others and heeding their advice, but you should never get so overwhelmed by doubters that you stop. If starting a company were easy, everyone would do it.
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