A “startup” can be anything from a business making a new product to a starting band looking to make it in the music industry. And, no matter what your startup is, there are certain characteristics, such as stubbornness and arrogance, that will doom you to failure if not addressed.
Entrepreneurs become passionate about their topic and to some degree that’s critical to success. However, when the passion keeps you from being flexible and open to new ideas, you may as well start ringing the death-knell for your business.
It is important to remember that your idea may not be what your customers really want. If a new song is just not receiving positive feedback from fans no matter how much you push it, perhaps it is time to move on. Similarly, if every focus group hates your product, adapt and accept that, although you loved your idea, it may not be right for the market.
You know the product or service inside and out; you’ve been formulating it forever! You have a vision and you feel certain that you are the best person to carry it out. But if you think you know it all, you’re in for a bumpy ride.
Being an entrepreneur is a learning experience, and the most important thing to accomplish along the way is the creation of a good team. You cannot know everything about your particular field of business – no one can. If you try to learn and know and do everything yourself you will surely not have enough time for what you do best, be it making music or running your business.
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