When You Run the Risk of Dying of Success With Your Project

There are entrepreneurs who fail to try and others who die of success because their projects evolve much faster than expected.

die of successFotolia photo rights

If you could choose you would like to have the second problem. This case is probably much more frustrating than the first since you’ve been able to enjoy for a while what it feels like when things are going well.

Among the main reasons is on the one hand the lack of experience and on the other the feeling that from now on things can only go in the right direction. If you think that everything will go well trusting fully in your luck, it is very likely that you will hit it.

Contents [ hide ]

1 1. Not taking care of money flows
2 2. Neglecting the administrative part
3 3. Not hiring on time
4 4. A portfolio of troll clients
5 5. Not managing the community well

1. Not taking care of money flows

I am not telling you this because I am particularly good at this point, El Salvador WhatsApp Number List but because I have experienced it first-hand as a green entrepreneur and without much idea what I was doing. No matter how much you sell and invoice, what really matters is what you have in your bank account. “Costs are the only thing you control” Luis Martin Cabiedes always told me in my time with Coguan. There are basic rules that are obvious but you have to suffer them to take it seriously.

2. Neglecting the administrative part

Administrative tasks are like the foundation of a house. If you neglect them you will quickly run out of housing and business. It is a field that many novice entrepreneurs underestimate and do not give it the attention it deserves. In general, the level of concern increases when problems start to arrive. Having a good manager or hiring a competent person is key to proper management of administrative matters.

3. Not hiring on time

El Salvador WhatsApp Number List
El Salvador WhatsApp Number List

It is as much a problem to hire too late as it is to hire too early. In both cases you have management difficulties. When you hire too early you have an additional workload because you are under the illusion that you will be able to delegate tasks. Actually you are quite busy with the formation of the person. In addition, in this phase you are not entirely clear about where you want to go, which makes it difficult for the people you have hired to work. If you grow very fast all the tasks are multiplied. Now is when you quickly need help so you can focus on what really adds value to the company.

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