Monday, March 7, 2011

More threatening weaknesses

Here are three other weaknesses that can prevent entrepreneurial success.

  •  Introversion tendencies that takes away your ability to deal with multiple people. You need to continually negotiate with employees, customers, suppliers, regulators, realtors, investors, bankers, and contractors. Not everyone can do that. Want to start a business so you can be your own boss? Business owners still have bosses: each of their customers. And sometimes those customers are not friendly people. 

(Note: Our definition of introvert is not someone who is shy or is afraid of people or cannot communicate with others. An introvert is someone who needs alone time. An extrovert needs to party with friends to relax, and introvert needs to sit home to relax.)

  • Fear of success: some people torpedo their own success because of subconscious fear that success will make them selfish (like that mean old man you knew when you were younger), it will make you forget your roots, or because it will make you proud and uppity. Please release the fear. 
  • An unnatural relationship with money. Some people are unable to spend money, some people are unable to not spend money. They don't understand what money really is. The issue probably comes from the way our parents raised us. 

"Following your passion," as self-help gurus love to advise (as though that idea was revolutionary) is in fact insufficient. You might blow up your business, or never even get started, if you don't remove a major weakness.

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