3 MISTAKES THAT YOUNG ENTREPENUERS MAKE TO JEOPARDIZE THEIR CREDIBILY
Building credibility is critical to the success of your business, so it is important to separate your personal life from professional field.
Being a young entrepreneur it is both a blessing and a curse. They can take risks and managing real-time business to find out where are the best opportunities. However, the curse is on the learning curve.
Mistakes are a must for young entrepreneurs step. In fact, some of the owners of the most successful businesses in the world still fail before hitting it big. However, some errors are evident.
Here are three mistakes that young entrepreneurs make to jeopardize their credibility:
Make over sharing, i.e. they share everything on social networks.
The average Internet user spends 1.7 hours on social networks per day. For young entrepreneurs, use social media to share the monotony of everyday life has become the norm.
In Twitter they talk about a new deal. In Instagram about their jet set lifestyle. In Facebook their share about their vacation in a Speedo. Just remember that, once the information is public everyone will see it, including your investors, board members, employees and customers.
I once had an employee who decided to use his personal Twitter account to tweet about how difficult it was our client brand. Needless to say, the representatives of the brand using social media as well. Therefore, it is better to keep private life and thoughts on that, in private life.
Recruit family and friends.
Friends and money do not mix. Loans made gifts, favors and tasks become friendships often spoil.
As young entrepreneurs, our intuition is hiring we know. We want to surround ourselves with people we like and share the richness of our new businesses. The biggest mistake you can make in the growth of a company is hiring people who are poorly qualified to assume crucial roles and responsibilities. The fact that a friend graduated with an accounting degree, does not mean he should be your CFO.
It is essential to the success of our companies hire people to compensate for our deficiencies. For example, if creativity is not your strength, try to find the best creative director. Most likely it’s not your sister.
They have overconfidence.
As Charles Darwin said: “Ignorance breeds confidence more often than knowledge”. When you find success at an early age, there is a tendency to develop an ego.
They look around and see that the market doubles the average age competitors to do business. It is a mistake that tend to do when you are sitting quite some time among the competition. Do not let your own arrogance in the way. Remember, there will always be a larger, more successful company than yours.
It is important to learn from those around you, do not throw them. Building credibility is critical to the success of your business. I am aware of the mistakes you’ve easily avoided and that can undermine your authority.
As Steve Jobs said, “Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations. “
Do not let your age define your work, let your work speak for itself.