Being smart is an amiable characteristic every entrepreneur should work at. This is because being smart will guarantee that you make certain business decisions that will help you achieve your business goals and objectives. Nonetheless, being a smart entrepreneur doesn’t shield you from making stupid mistakes; sometimes, these mistakes can bring your business to its eventual end. This article is aimed at showing you stupid mistakes smart people make that could cost them their business:
Spend too much time thinking and not enough doing
Being successful in life and business is not just a product of your thoughts or desire to succeed, it is way beyond that. Success is when planning meets preparation. While it is of utmost priority to think and figure out how you are going to go about certain issues, taking action is the only ingredient that will guarantee your success. As a smart person, you must realize that you cannot dream or desire your way into success, success is a formula that comes with lots of work, so quit thinking and start acting.
Wait to be promoted before doing the next level job
In life, you don’t prepare in rainy days, you prepare for rainy days. Consequently, if your desire is to become a leader, then you have got to start acting like one, waiting to be a leader before you start learning the principles of leadership shows how ill-prepared you are for that position. Leadership is only offered to those that are prepared; hence you must never wait for promotion before you start thinking like one. People can see the attributes of leadership in you from the influence you command and your ability to make things happen.
As humans, it’s in our nature to over-complicate issues, especially among smart people. A lot of smart people do not believe in simplicity, they feel creating complex solutions proves just how smart and important they are. Nonetheless, complexity leaves us with little we can achieve. Therefore we must seek for simpler ways to achieve results rather than over-complicate things like smart people do.
Underrate the amount of effort
This is one mistake most smart people always make. They fail to realize that Rome wasn’t built in one day; what we admire today took years of money and sacrifice to achieve. Being smart doesn’t mean you have to work less to succeed at what you set out for; on the contrary, you are only successful based on the amount of time and effort you dedicate to achieving something.
Fail to communicate clearly
One road to failure is our inability to communicate our intentions clearly to the party receiving the message. Information cannot be acted upon except they are well understood. Smart people are guilty of this; the fact that you know and understand what you have said doesn’t mean every other person is on the same page with you. Accordingly, you must strive to simplify and communicate your goals and decisions clearly so others can fully understand.
Failure to delegate
Smart people often have this ‘I know it all sentiment’; hence, they feel it's quicker or better when they handle things themselves. While it seems like a good thing to do on an individual level, failing to delegate responsibilities when you work with a team will place a limit to what you can achieve; this is because, by delegating responsibilities to your team, you increase their productivity by challenging them out of their comfort zone.