Common Causes of Business Mistakes

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The development and success of any business venture depends on many factors. The statistics are quite depressing. Because in the first 5 years of running a business, up to 9 out of 10 new companies fail. The market quite brutally verifies the dreams and plans of many entrepreneurs. There are business factors that you can influence and those that you do not. So it is worth focusing on goals that you can achieve. At the same time, eliminating common causes of mistakes in business.

Below I have listed six of them, which in my opinion appear very often. In both small and larger companies on the market. Among lower and higher level managers and the owners of smaller and larger companies themselves.

Stress
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Of course, stress can be motivating. When you have a deadline, the feeling of stress nips you to continue. I'm not talking about that kind of stress here. I'm talking about the kind that paralyzes us, that makes us bury our denmark whatsapp database in the sand. Or we decide to make a key decision for the company or a team member. Stress that paralyzes is often a catalyst for failure. The best thing is that if it is permanent, it can cause a domino effect of mistakes and failures, which can lead to a whole series of unfortunate decisions.

No mentor
Do I have a mentor in business? Yes, more than one. I draw inspiration from various areas and receive advice from people who have already passed the stage I am currently solving. Along the way of building my business, I changed my inspirations and mentors. Because I grew out of a given problem and needed to "watch" someone else, talk to someone else about current challenges. When I choose a mentor, I look at two areas. Is a given person one step further from me in building their organization? Is a given mentor really strong in the area that interests me? When looking at the company's finances, I am definitely looking for a different mentor than, for example, in the area of ​​"company automation". It is rare that one mentor can cover different issues.

Lack of delegation of tasks within the team
Many founders have the "Zosi-samosi" syndrome. They do not delegate, they try to take on as much as possible. This causes us to end up in negative situations. When the team we employ loses confidence when we take tasks from their area of ​​competence. We do things "from scratch". We do not have time for important decisions in the company or we start to perform tasks carelessly.

No scenarios
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This is my discovery this year, when I do some more complex processes. I break it down into scenarios, so-called "decision trees", then there are fewer mistakes. We simply know what will happen if X happens, and what if Y happens. We have a written and "dry" practiced scenario with different variants. Of course, to implement it correctly, we also have to function well emotionally. Even the best tactician can burn out and forget his "turbo plan" when emotions start to come in.

Healthy food, good sleep
Maybe you eat unhealthy and your body is sluggish. You focus on feeling bad, not on making the right decisions. When you are sleep-deprived, the situation is very similar. A person who has slept badly, or simply the wrong number of hours, makes irrational decisions. When we cannot satisfy our basic needs (sleep, food), we cannot do our job well. We go for the fastest decisions, which are not the best, they are simply the fastest.