As humans, even entrepreneurs must avoid temptations that easily derail success. These tips help you stay on the straight and narrow path to success.
Here some traps that derail leaders from their intended vision:
Entrepreneurs who are seduced by lust will spend much time and money on status items before the business is solid and that may lead to disaster.
The vision of cash, fame, fast cars, and fancy houses can draw valuable focus, energy, and resources away from what is really important about building a business.
A healthy appetite for business is good, but companies need to grow in a controlled and moderated manner to achieve great success. Entrepreneurs seduced by gluttony will take on too much before their infrastructure is solidly in place, ultimately delivering poor performance and ruining their reputation before it's fully established.
It's important to maximize profits, but not at the expense of the long-term health of your company, industry, and reputation. Entrepreneurs seduced by greed will make immoral decisions that may increase short-term returns via shortsighted policies in pricing, marketing, and personnel, doing damage to their reputation and sustainability.
Successful entrepreneurs know that hard work is required, and real, sustainable success takes time to develop and prove. Entrepreneurs seduced by sloth will make sloppy choices involving untested business models and marketing techniques, burning valuable resources and putting everyone involved at risk.
Passion is a critical entrepreneurial component. Uncontrolled passion, however, can lead to irrational behavior and decisions. Entrepreneurs seduced by wrath will let unbridled emotion reign, creating fear, anger,
and destruction internally and externally.
Entrepreneurs seduced by envy will spend much of their time and resources trying to battle and sabotage competition that they will miss their own unique opportunities to perform and maximize growth.
A healthy ego is helpful when building a business. But too much pride can keep you from seeing the necessary truth. Entrepreneurs seduced by pride will insist their ideas are always the best and be closed to outside suggestion just to feed their ego.
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