When it comes to running your own show, there are so many moving parts. It’s almost inevitable that at some point you’re going to drop the ball. But what about big-shot entrepreneurs? Yep, they make mistakes too!
If you look around at famous entrepreneurs, you’ll see a few key blind spots popping up again and again. Here are some of the big ones we found:
Hiring the wrong people.
Whether you’re picking a co-founder or your first employee, it may surprise you to know that this isn’t an art – it’s a science. The key is to build a team that prioritizes diversity over similarity, and to do that you first need to understand the strengths and weaknesses of your existing team so you can hire people who fill the gaps. It’s also important to continue monitoring this as your business grows.
Anita Roddick, Founder of The Body Shop:
Not listening to your gut instinct.
Ever heard of a little device called an iPod? Well, while you could hardly call Sir Richard Branson a failed entrepreneur, when asked about his biggest mistake, he recalled the time he joked about a device called a ‘Music Box’ that would store all of your music. The failure to act on his gut instinct and create his idea cost him, and the rest is history. As Branson recalls:
Wade Foster, CEO and co-founder of Zapier:
Being too much of a perfectionist.
Sure it’s one thing to do things right, but it’s another being a perfectionist when it comes to the finer details. In fact, it’s this over-focus on details that can cause entrepreneurs to fail to see the big picture.
Lewis Howes, lifestyle entrepreneur and creator of The School of Greatness podcast:
So there you have it, even well-seasoned entrepreneurs have blind spots. Time to find out what yours might be, don’t you think?