7 business mistakes that hinder your development in everyday life.

7 business mistakes that hinder your development in everyday life

Excessive perfectionism, lack of a financial plan and inability to delegate can play a cruel joke. Together with the national project “Labor Productivity,” we talk about the mistakes of entrepreneurs that hinder personal growth.

1. Not maintaining a financial plan

Mistakes of entrepreneurs: not maintaining a financial plan
Image: FabrikaSimf / Shutterstock

Financial planning takes into account all income and expenses and helps develop a company development strategy. Without it, it is difficult to know whether the company will be able to increase profits, pay back loans or hire new employees. In life, it is also important to adhere to a financial plan - in order to make large purchases without loans or not go into debt if an emergency occurs.

Start planning by assessing your current income and expenses. Then set goals, such as saving for a down payment on a mortgage, buying a car, or going on a trip. Leave room for a financial cushion. Prioritize your goals and think about the time frame you want to complete them. And then figure out how much money you have to save every month. If the amount is unbearable, the financial plan will have to be adjusted - cut down on unnecessary expenses or find a part-time job.

2. Assume that change will not affect you

It is important for business to keep up with the times. Even if today a company has no shortage of customers, tomorrow they may go to competitors. Business models and people’s preferences are changing, and old technologies are being replaced by new ones. For example, in 1997, Apple was on the verge of bankruptcy. The reason was unsuccessful products, including the Newton PDA. Steve Jobs, who returned to the company, reduced the product line and introduced the new iMac in 1998. Thanks to his actions, Apple returned to profitability for the first time in several years.

In everyday life, it is also important to adapt to new realities and maintain a sharp mind. In the future, new professions will appear , such as virtual reality designers or smart home technicians. It will be easier for a person who is constantly learning to build a new career. But even if you just want to maintain your position, you will have to regularly update your knowledge.

Nowadays there are many interesting courses for development, and lifelong studies have actually become the new norm. In entrepreneurship too: if you have your own business, it is important to train employees and constantly improve your own competencies. This will allow you to improve your skills, master new technologies and stay ahead of your competitors.

The goal of the national project “ Labor Productivity ” is to help enterprises make their work more efficient. Thanks to its solutions, companies gain access to a professional management training program. And the digital ecosystem makes it possible to introduce progressive solutions into business. With this project, Russian enterprises will have access to tax benefits, financial and non-financial support measures.

Find out more

3. Wait for the perfect moment

Entrepreneurial mistakes: waiting for the perfect moment
Image: Khongtham/Shutterstock

Perfectionists strive to do everything perfectly the first time. And if perfect conditions do not arise, they postpone the decision. But this can slow down development. Let's say in business it is important to test hypotheses in practice. For example, Netflix wasn't always a streaming service: it started out selling DVDs by mail. And the team of the corporate messenger Slack previously developed the not very successful online game Glitch.

The implementation of ideas is also useful in everyday life. Even if the idea doesn't work out, you will gain experience and understand the situation better. Making mistakes is normal and even healthy. For example, if you are learning something new and make a mistake close to the correct answer, you will be better able to remember the correct information.

4. Surround yourself with people like you

It is important for companies to hire people of different genders, ages and backgrounds, with dissimilar skills and life experiences. Together they will be able to make more creative and innovative decisions and look at problems from different angles. Such teams have a better chance of achieving financial success than competitors with similar backgrounds.

In life, it is also useful to communicate with people who have different views from yours - this will allow you to expand your horizons and abandon stereotypes. The ability to listen to someone else’s point of view, argue your position and find a compromise in a difficult situation will be useful both in work and in personal relationships.

5. Not thinking through the space around you

Office design can help or hinder work. For example, it is important to provide a room for meals so that employees do not have to heat food in the microwave right in the office and eat at their desk. It’s great to have a place to relax where you can chat about abstract topics. The best ideas sometimes come in informal settings. You don’t have to go into office minimalism - try to create a space that will inspire you to work.

The arrangement of personal space must also be approached thoughtfully. For example, in a room with poor lighting, it is difficult to concentrate on work or study. And without a well-thought-out storage system, you will have to spend a lot of time looking for things. A harmonious environment will help optimize resources and provide inspiration.

6. Putting everything on yourself

Ошибки предпринимателей: взваливать всё на себя
Image: Andrii Yalanskyi / Shutterstock

Giving instructions to other people can be scary - what if they can’t cope with the tasks and you’ll have to redo everything. But you still need to learn how to delegate: the larger the company becomes, the more difficult it is to keep everything under the control of one person. And it’s impossible to be an expert in all matters: it’s better when sales managers communicate with clients, and an accountant balances debits and credits. By resolving all issues for subordinates, a manager can discourage them from taking initiative.

In life, it is also important to entrust problems to those who can better cope with solving them. For example, if you don’t know anything about repairs, it’s worth hiring specialists for complex work - your nerves, strength and money will be safer. And if you are torn between household chores, involve other family members in the process of cleaning and cooking.

7. Waste resources aimlessly

Making a new product before doing market research is an example of a waste of business resources. Such a step can lead to a waste of time and money. Usually, clutter in business processes causes budgets and work hours to be wasted. When empty meetings take up most of the day, employees rush between tasks, and the manager does not know what each of them is doing.

The same thing happens in life: without time management skills, combining work, hobbies and household chores is extremely difficult. A clear daily routine will help you accomplish your plans. Make a list of tasks and determine which ones are the most important and urgent - they need to be completed first. Don't forget to record how long it takes to complete tasks. This will allow you to more realistically assess your capabilities. Special techniques will help you fight procrastination, for example Pomodoro: work in sessions of 25 minutes, and then take a 5-minute break. Rest for 30 minutes every four sessions.

Lean manufacturing systems help eliminate unnecessary operations and reduce task completion time, which means improving business performance and increasing its efficiency. The national project “ Labor Productivity ” helps increase the profits of enterprises without unnecessary investments and teaches workers to optimize their schedules . Specialists from the Federal Competence Center advise companies free of charge on how to minimize costs and increase profits. More than two thousand enterprises are already participating in the program. It is planned to train more than 79.5 thousand workers in lean manufacturing tools.

Get to know the project