10 Ways Entrepreneurs Shoot Themselves In The Foot

Entrepreneurs and their businesses have a tendency to ambushthemselves when they aren't looking. This affects how muchrevenue they can generate, how fast their business rises,and even if they survive after the first few years. If youfeel there is a possibility you are getting in your way tosuccess, review these elements to see if any of these itemsmight apply.

1. Imagine investing time and money into a product orservices, only to find that it isn't selling. Or at leastit doesn't have the results that you expected. Now, I'mtalking realistic here, and not some grandiose vision. It'shard to give up something when you have invested yourresources into something, more importantly, you have spoutoff to the world (okay, friends and family) that you weredoing it.

Gluing yourself to an idea, product, or service that isn'tmaking any money or enough money to support the businessisn't smart. Ego and pride don't make money. Gettinghitched to any one idea, or even two, that isn't profitableisn't smart. Every product climbs and falls -- evenMcDonalds drops a product when it doesn't test strong. Ideasare the currency of entrepreneurs, make money with them orlet them go.

2. Be proud of being an entrepreneur. DFor some reason,the title entrepreneur seems to have caught a disease, butthat shouldn't be the case. Be proud of being anentrepreneur. when someone asks you, don't mumble, and don'tcall it by another name, as if being an entrepreneur wassomehow unprofessional. The same applies to the title ofindependent professional -- which is another name forentrepreneur. Stand tall and proud.

When I ask people at networking events if they're anentrepreneur, they often respond with strange body language.Some shift their stance uncomfortably, sometimes their handgoes over their mouth and they let out a barely audible,"yes," and sometimes they even correct me, using some othertitle.

3. No bologna (or b.s.). Entrepreneurs can be naturallyexcited and optimistic about what they are doing. Don't letthe excitement sound like hype. Because of this peopledon't trust you. Don't just tell the pros, add the cons.Let people know, who is the best person for this service -not everyone, or what circumstances are best for theproduct. People aren't stupid but if they have to figurethe cons of the product or service, you will most likelylose the sale.

4. Being in denial of your cash position. Not balancingthe checkbook, not knowing what your accounts receivables,payables, or what the break even cost is for a product orservice, isn't smart business. If you don't know what itis, get a book on the topic or talk to an accountant.Denial creates fear, and fear creates denial. It's avicious circle that creates stress and ulcers. Short termprojects turn around short term dollars. Long term projectsnever turn around short term dollars. Be realistic with allyour resources.

5. Accepting weak any bodies. Whether its weak staff, weakclients, weak strategic alliances, or anyone else in yoursupport realm. If you are attracting weak people, you aregiving weak signals. Change your signals and you willchange what you attract. To attract strong people, you needstrong signals.

6. Confusing possibility with reality. One of the maincharacteristics of an entrepreneur, and this could be one ofthe reasons people may not like using the name, is theirgift to see everything in possibilities, yet spend money inthe world of reality. Money is always reality.

7. Selling or trying too hard to explain what you sell. Ifyou find yourself pushing what you're product or servicedoes, it is time to change your "success formula." Commoncauses are: (1) You are trying to sell to someone who isn'tyour target, or (2) If you have the right target and youdon't know what you are selling. You can only handle thisin two ways, know what the customers are buying, or know thebenefits of what you are selling. Benefits in the termscustomers need to hear and understand, not what you chooseto say.

8. Lack of any or adequate support structures. If it takesa village to raise a child, what do you think it takes toraise a business. Surely, not a lone ranger. Work withothers to help handle your many business and personal needs.Entrepreneurs need support, even if it's only a feeling.Arrange to have a support structure for every part of yourbusiness. Keep in mind tip number five above for this aswell.

9. Over or under delegating. It is so hard forentrepreneurs to begin to delegate. Yet once they do theyseem to swing the pendulum completely to the opposite sideand over delegate. Over delegating is "dumping" on people.Even paid people, don't like being dumped on. Feeling incontrol is a need of most people, entrepreneurs aren't anydifferent. They look at it as a money or trust issue, whenin actuality it's usually a control issue. Delegateappropriately and with people that think you can trust. Letthe trust build over time.

10. Stop giving up so easily. Successful entrepreneursdon't see failure. They see learning lessons. They pickthemselves up, dust themselves off, change and adjust, andkeep moving. Being an entrepreneur, during the early yearsof a business -- that is under five years for mostprofessionals, takes more work than being an employee. Evenif you are a graduate with an MBA in business. Don'tinclude your learning curve time in with the rest of yourtime. Everyone has a learning curve of some kind.

Catherine Franz, a Professional Marketing &Writing Coach, specializes in product development, Internetwriting and marketing, nonfiction, training. Newsletters and articles available at: http://www.abundancecenter.comblog: http://abundance.blogs.com

Author Reginald Beal Returns Home Webster Kirkwood Times, MO - 21 hours ago While his father taught him to uphold justice, his mother showed him the value of education, Beal said. The entrepreneur turned author retains a lifelong ...

Au pair not always all perfect Connecticut Post, CT - 14 hours ago Moraes, a Monroe mother of two who's lived in several countries, has taken under her wing a slew of au pairs she met through Black Rock Congregational ...

You’ve heard of Hockey Moms, Soccer Moms…Now Meet the Metromom. Wire Service Canada (press release), Canada - Oct 10, 2008 They can also work around their family's schedule. As moms they love how having a home-based business lets them balance their career with their personal and ...

Smartphones place the Internet in more hands San Antonio Express, TX - Oct 9, 2008 “I used to carry a laptop everywhere I went,â€� says the social media entrepreneur. “I can now travel much lighter because I don’t carry it with me everywhere ...

Home is where the hard work is Calgary Herald,  Canada - Sep 29, 2008 The Calgary mother of two had just launched her web-based business Mom Knows Best Natural Solutions (momknowsbest.ca) early last year when health concerns ...

Bonnier Corp. Acquires Working Mother Media MarketWatch - Sep 25, 2008 "Bonnier is the perfect home for Working Mother and our membership organizations. We look forward to building our products and fulfilling our mission as ...

Plumas County news on-line Plumas County Newspapers, CA - Oct 7, 2008 Craig spent most of his work life as an entrepreneur and small business owner. He and his wife Wendy owned two Chubby's Restaurants, one in Benicia and one ...

Bus(y)iness moms stay in the loop Wrightstown Post Gazette, WI - Oct 5, 2008 Any woman who's been there knows that tending to home, hearth and offspring is largely a lonely affair. For work-at-home moms — entrepreneurs who run a ...

"If I Were an Only Child" - Explores Personal and Family Values ... Kansas City infoZine, MO - Oct 9, 2008 Rebecca MacKinnon, a Kansas native, is a technology entrepreneur. Early in her career, she completed the business cycle of start-up, growth and acquisition ...

Retail mavericks: Fashion ventures forge new path for style, beauty Boston Herald, United States - Oct 7, 2008 Shih, who worked as a management consultant for Deloitte before leaving to work on 9tailors full time, offers in-home fittings for customers in Greater ...