Even visionaries and smart businesspeople, like Steve Jobs and Bill Gates, made mistakes at some point in their careers. Jobs had a number of flops, such as the Apple Lisa, Ping, and the Macintosh TV, while Bill Gates admitted that the way Microsoft had gone about the smartphone business was a mistake.
The rule, of course, doesn’t exempt you. Even if you’re smarter than Einstein or Asimov, you’re bound to make stupid blunders. And some of them are even needless. Here are some classic examples of slipups that intelligent and seemingly flawless businesspeople commit.
Being Overly Independent
Being independent is a trait of a good businessperson. But overdoing it is a trait of a self-absorbed man of enterprise. A good network and support system should always be present to minimize risks and ensure success. If you think you can’t manage to get through one problematic aspect of your business, don’t push through. For instance, you can use the services of Triple I Consulting for business registration dilemmas; use the services of Ernst & Young for accounting needs; or BBDO Guerrero for advertising needs.
Believing that Social Skills aren’t Part of the Game
Some CEOs and big bosses are notorious for their cold attitude. You may be good at technical things, but they won’t help you make it alive in the business without maintaining a network. To have a healthy professional network, you need to master the art of socialization. Take the nuggets of wisdom from Dale Carnegie, the writer of the ever famous self-help book, How to Win Friends and Influence People.
Deciding to Shift to Another Industry
There’s nothing wrong about going out of your comfort zone to explore new ventures. But sometimes it can be a disastrous attempt. One example is when Coors decided to introduce sparkling water to the market, a move that deviates from their usual business. The effort didn’t click and was easily put into oblivion. If you’re venturing into new efforts, make sure that you do your homework, which usually takes years, and invest heavily in execution. Otherwise, you may hold off your plans for a while and stay in your comfort zone. Remember, it’s called the comfort zone for a reason.
Perhaps, the biggest mistake a smart businessperson can make is falling in love with his ideas without doing anything. Your blueprints and notes may appear like a progress, but in reality, they only give you a false sense of security. What do you need to do? Act.