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Article Contributed by Julia Morison

If you believe that your 9 to 5 job is hard, then you have never been so wrong in your life. Your boss life would seem to be charming with all the liberties and the money to spend an ideal life which you wish for. But on the back of it, there are the years of hardships with immense mental pressure and sleepless nights which make them what they are today. Among all this, there are mistakes too which makes their path to success harder.

The mistakes are bound to happen to everyone especially if you are trying to set up anything big. For a businessperson, mistakes can cost lives and when you are a first-time entrepreneur, you are more exposed to some of the silliest mistakes that can make you a joke in the industry. That is why it is better to know the things before acting so you can save yourself from the harassment you can face due to your mistakes.

For the young entrepreneurs out there who are trying to set up their first startup, I am writing this article in which I am going to discuss six of the most common leadership level mistakes that they make which hurt their path to success and make things worse for them.

  1. Going for the big horses:

You are new in the market and trying to manage your investment and spending. In the initial stages of the startup, you need the bulk of cash to burn in the furnace of the company which is not even earning any profits. However, you will be wishing at that point to have the support of someone who is experienced and can setup an entire department for you. Wishing this is an issue for entrepreneur. One, you would not be going to have enough cash to gather such people around your business and to pay them as their worth. Second, because they are many experiences and you are a new guy trying his luck, managing these people would not be easy. Hence, after spending a heavy amount on them, they are going to flee away from your dream with all your money invested in them, and you would be cursing that day you hired them.

  1. Being Egoistic:

There are many stories in which most of the companies only fall due to the ego and self-centeredness of the top management. Imagine these two things destroying big corporates then what they could do with your company which is just an infant. One of the greatest traits of a good leader and manager is to accept his mistakes and flaws and then try to better it. You can only bring this in yourself by killing your ego.

  1. Doing without a plan:

You may be a fantastic employer for your company and a master in your industry. Though, having these achievements cannot ensure your success while setting up a new business for the first time. To work for somebody and to make someone work is totally different things. This needs a lot more things that is why it is better to plan the things thoroughly instead of just jumping on the things.

  1. Blurred revenue model:

You are doing business to make money. However in the first few months, you won’t be making anything but still have a clear revenue model is imperative for a startup. You have to draw the lines first and then play your games within.

  1. Trying to achieve the goal:

We all set big goals and try desperately to achieve it. This is the trait of idealist which for some people is the right thinking. However, it is something which you should avoid while setting up your first startup. In the initial stages of the company, you better care about aligning the things correctly and in order instead of not jumping on consensus and the goals.

  1. Not thinking about protection:

You would be intensively involved in the grooming of your company that there is a chance of missing one of the most important things for the company which is its security. In the days of cybercrimes and frauds, having a compelling and full proof security system is important. Or else someone would take all the things away from you in a whisker.

Author Bio: Julia Morison is a head hunter and a research specialist at US-Based Digital Agency. She loves to help people and is the mastermind behind ieee reference generator.  She is a traveler, a blogger, a techie and a social activist. When she not in her office, she spends her time writing and educating the masses. Follow her on twitter and LinkedIn.


 
 
 

 
 

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