DNA coded pit falls

by Magnus Penker on October 5, 2010

I all companies I have worked in or with, including the one with the best entrepreneurs, there are a few pit falls that seems to be inherited in entrepreneurship regardless of culture, trade or geography. Before pointing those out outlining my suggestions let´s set the scene: The DNA of entrepreneurship is about believing, it is about doing the impossible, literal going where no man went before– with determination, focus and a pathological believe that you will success. So, based on the DNA code of entrepreneurship there are of cause pitfalls, or design mistakes of entrepreneurs hindering and complicating fast growth and success, all of them possible to treat if discovered and addressed. The pit falls I like to bring in the light with suggestions of how to treat them are

  1. Writing e-mails night times instead of lighting a fire at daytime. Wait to the next day and make it 100%.
  2. The crocodile syndrome: Big mouth, small ears. Instead ask other for their opinion, then summarize and take it to the next level adding your entrepreneurial skills.
  3. Declaring victory before the war is over. Do not say that you have sold, is you not have the written contract in your hand. Do not say you have established on a new market just because you met an interesting person on a flight, wait until the operation is up and running.
  4. Looking for bad guys in the wrong places, not all people want to take your ideas and customers. Focus on doing the job better than all other, not on protecting everything popping up in your head.

About Magnus Penker :

Director-level consultant defines corporate strategy, sets direction, executes growth and turnaround business plans. Read more at http://www.linkedin.com/in/magnuspenker

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