10 questions that should be answered before launching a franchise
With franchising, as with a marriage, do not rush. There is a high probability that no one will want to work under your brand, so you should be careful and…

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10 questions that should be answered before launching a franchise
With franchising, as with a marriage, do not rush. There is a high probability that no one will want to work under your brand, so you should be careful and…

Continue reading →

The best world startups who have not asked anyone for money
Now the term "startup" will surprise no one - surely everyone has friends who have opened their anti-cafe, built a quadrocopter for aerial photography or selling interesting articles on the…

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9 bad habits that will help in business

1. Attention to detail
Entrepreneurs think big, often ignoring the details. When you run a home business, it’s easy to manually control every letter, count every cent, but when your business scales, attention to detail eats up most of your time. I am a man of great ideas, so I hire staff who cover all weaknesses.
TIP
Make sure that your team skills and skills cover all the needs of the company.

2. Stubbornness
When I got the idea to launch The Collective magazine and find financial support, I was faced with a “no” squall before I received the first “yes” from Commonwealth Bank (which had a domino effect, and many of the previous failures turned into “yes” ). I am very stubborn, but this feature is required if you want to start a business. After all, if you do not have faith in yourself, why should someone else believe in you?
TIP
Do not give up the position. Some people will not share your views, but to come to victory, sometimes you just need to pass them.

3. Lack of attention
The desire to throw away all my possessions that I had during the move every day helps me in my business. When a new idea comes, I hurry to check it and move on, if the opinion of people whom I trust is negative. Many entrepreneurs make the same mistake – they become attached to their idea, even if research shows that there is no place for it in the market. Get rid of excess when it comes to your wardrobe and business idea.
TIP
Find people whose opinion you will trust. If they do not believe in the future of your idea, move on. A new day will come – a new idea will come.

4. Inability to disconnect from work
Some people don’t understand how to fall apart on a sun lounger by the pool, and instead of turning off their brains, start dreaming about a product that you can develop to help the guy on the other side of the pool who is trying to cover your iPad from the sun so that read something on it. I do not believe that the real entrepreneur’s mind is ever really turned off, because we have built in a “radar for finding a market niche” that constantly scans, processes and analyzes the environment for the “next big thing”.
TIP
Take notes. Write down ideas, thoughts and new niches in the market. Then periodically review them – you never know when the points will converge.

5. Putting the nose in the affairs of others
Some of my wisest acquaintances are joking that they are “professional matchmakers” because they constantly meet friends, colleagues and clients who, in their opinion, should work together: “Oh! You have to meet my friend, you both have to do what together … “This” something “may initially seem incomprehensible.
TIP
People are everything. Ask yourself what they do and be a link. Excess support has not hurt anyone.

6. Talk about money
In many circles, talking about money is like cursing. But to be honest and open about finances is very important (for example, when you need to explain to team members why we cannot send them to a conference in another city, how much we would not want to). I openly talk about money in the office, because I trust my team and I want them to understand the motives for making all my decisions.
TIP
Money can be an awkward topic for conversations in the office, but they play a fundamental role in running a business.

7. Be selfish
I can’t say no to many events. Whenever I teach young entrepreneurs, I teach them how important it is to protect their free time in order to avoid the infamous burnout at work. I know that sometimes it’s hard to miss a meeting with an investor – what if he thinks we are impolite? But, a little bit of egoism is vital when you run your own business in order to provide for yourself and your very long and happy career.
TIP
Learn to say no. You have family, friends and hobbies. They are also important!

8. Frequent failures
See the item “Lack of attention.” We are not afraid to make a mistake.
TIP
Let go. If your idea fails, you will at least learn something from your mistakes.

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