fbpx
Connect with us

Executive Voice

Gallant Dill’s 5 Most Common Mistakes by New Entrepreneurs

When starting a business, mistakes will be made. There’s just no getting around that. To Gallant Dill, it’s much more important to make sure that those mistakes will not cause lasting damage and to learn from them. To prepare them for what these blunders are likely to be, below are five of the most common errors new business owners typically make.

It’s important to know what these mistakes will be so that new entrepreneurs can prepare for them. They will not be the only ones worth watching out for nor will they be the ones to do the most damage. But by avoiding them, it becomes much easier to manage the business and all subsequent pitfalls along the way. 

Gallant Dill also notes that even knowing about these mistakes ahead of time, business owners are still vulnerable to them given enough time. Some of these errors are intrinsically tied to human nature, thus making them particularly difficult to avoid. After all, it’s not as if people can stop themselves from feeling like wanting to do everything on their own. 

There are also times when the constant rain of bad news can prevent new entrepreneurs from seeing the bigger picture. Emotions will often trump logic and bad decisions can be made, as a result despite knowing about the potential consequences beforehand. All anyone can do is reduce the damage done as much as possible.

Refusing to Delegate

One of the most critical roles of a business owner is entrusting tasks to subordinates or employees. By delegating jobs, the entrepreneur is free to focus on more macro concerns such as market trends, building beneficial relationships, and generally growing the business. This is infinitely harder to do when the owner is doing everything themselves.

Therefore, Gallant Dill is urging enterprising individuals to learn how to give up complete control when they need to. Trusting employees to do the jobs that they were hired for and managing them to make sure that their performance is up to scratch is what it means to be the boss. 

Naturally, it would be much easier to delegate if the workers are competent, to begin with. As such, finding reliable employees will need to be a major priority. 

Terrible Market Research

Whatever kind of business an aspiring entrepreneur wants to run and whatever products or services they are selling, researching the market will be critical. The more information that can be gathered and analyzed before going on, the better the preparations will be. Unfortunately, too many would-be business owners fail at this point. 

Having a product that might sell is just the start. Finding out how much it would likely sell, who would be buying, and how the market conditions will affect that product are the most basic steps to take. 

Starting a business based on a fading trend, for example, would be a huge blunder due to the terrible prospects. Gallant Dill would also caution entrepreneurs from blindly following popular trends and to instead be the ones to innovate. 

Not Thinking for Themselves

It’s fine to ask for advice or seek out help from more experienced business owners before starting a business. But as Gallant Dill says, there is such a thing as information overload. More to the point, listening too much to too many people can leave a person without their own goals, agendas, and original thought.

They end up unable to come up with their own solutions or arrive at their own answers. This would be a terrible state of affairs because the entrepreneur needs to be the one steering their own ship. Asking for advice is fine, but ultimately, it’s only meant to inform rather than instruct. 

Becoming Overwhelmed by Fear and Doubt

New entrepreneurs will become intimately familiar with the feeling of dread that comes from starting and operating a business. It gets better as time passes, but it will never truly go away. In many cases, it can be helpful since it can stop business owners from becoming too reckless. Getting overwhelmed by fear, however, can be crippling. 

Too much fear and doubt can stop an entrepreneur from making sensible decisions, as well as taking risks. This would then cause them to stagnate until the business collapses around them. In order for businesses to thrive, Gallant Dill is encouraging owners to find a way to manage those negative emotions. 

Focusing Too Much on Failures

Finally, new businesses will often experience failures. There will be slow days, customer complaints, a lack of personnel, and dismal profits. As such, it can be quite easy to fall into the trap of becoming too preoccupied with failures. This is lethal to a business. 

By shifting one’s focus and recognize the small victories, it becomes easier to get over this rut. Celebrating events like anniversaries, profitable days, gaining a new customer, and delivering on promises is very important. 

Doing this can help keep the business in operation to the point where it finally starts making a lot of money. So, celebrate small victories, Gallant Dill advises. 

About Gallant Dill

Gallant Dill is an award-winning business coach that helps many struggling business owners gain their momentum back. He has people going across oceans and miles just to listen to him conduct a seminar. Galant is an individual that started with literally nothing, now with the right mindset and strong determination, Gallant Dill has everything, a family that he counts on, advocacy that continues to inspire him, and a job that he loves and passionate about. 

Connect with Gallant Dill: 

Gallant Dill’s Facebook

Gallant Dill’s Instagram

Gallant Dill’s Twitter

Gallant Dill’s Youtube

Gallant Dill’s Website

Josue Arteaga is a 20 yr old Branding Expert and Ventur Capitalist. As the Vice President of Disrupt Media, his aim is to disrupt how personal branding is done through marketing tools like Social Media, Press, and Podcast in a unique way. Josue has worked with clients worth over $100m, celebs, and the worlds biggest entrepreneur influencers like Ed Mylett, Julius Dien, etc. As for as investing his owns and manages $2m in rev/yearly in meat markets and is expanding with his goal to own 1,000 meat markets and generate one billion in annual revenue by the next 7 years. If not he says "$10m a year doesn't sound so bad"

Advertisement

Join Disrupt Magazine

Become A Disrupt Contributor

Most Disruptive

Executive Voice2 months ago

Kerwin Rae Shares How He Has Helped Over 100,000 Entrepreneurs Succeed and Grow

Kerwin Rae is Australia’s leading business strategist and high performance specialist helping over 100,000 businesses, in 154 different industries, throughout 11...

Politics3 months ago

Brock Pierce Wants To Disrupt The Two Party System And Be Your Next President

We don’t usually cover politics much here at Disrupt, but when Crypto billionaire and friend of the show, Brock Pierce...

Business5 months ago

John Mcafee – Predictions For The Future

John McAfee is a world-famous tech CEO, computer scientist, civil disobedience activist, privacy advocate, and pioneer of the commercial anti-virus...

Finance6 months ago

Gaby Wall Street – Teaching Latinas to Thrive During The Crisis

It’s no secret we are facing one of the most challenging financial times of the last few decades as we...

Entrepreneurship6 months ago

Tony Delgado – The #1 Entrepreneurship Movement In Puerto Rico

Puerto Rican online market is in constant progress. With many entrepreneurs who are coming here to start a business, it...

Entrepreneurship8 months ago

Elena Cardone – The 10X Ladies Conference Is Declaring 2020 The Decade For Women

The next ten years are meant for women to continue growing their potential and succeeding in multiple areas, including business....

Marketing1 year ago

How Josh Elizetxe Built Snow Into a $40 Million Dollar Business

There is nothing quite like an entrepreneur’s determination when starting a business. That’s my original quote by the way (pun...

Entrepreneurship1 year ago

How Jason Capital Became A Self Made Millionaire By 24

Have you ever wanted to earn the respect of everyone who ever looked down on you at some point in...

Entrepreneurship1 year ago

Sam Bakhtiar On His Way To A Quarter Billion

Dr. Saman Bakhtiar, who prefers being referred as Sam, lives in an 8200 square foot $5.2 million house, Sam is...

Trending

Copyright © 2020 Disrupt Magazine

The Disrupt Magazine & Podcast tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. This Podcast was designed to give them a taste of that.