7 Activities With Which I Have Wasted Time and Money in My First 5 Years as an Entrepreneur

When you launch a business you do it with the greatest enthusiasm in the world. I arrived in Spain 5 years ago and had just signed an investment contract for Coguan. It was a long and painful process that lasted more than 1 year.

When you do not have experience it is very easy to Australia B2B Contact List waste your time as an entrepreneur Many entrepreneurs, just like me, have the perception, albeit unconsciously, that they have already achieved their goal. What the vast majority forget is that the most difficult is yet to come.

Of the 5 years that the stage lasted with my first start-up, I will have easily lost 1-2 years with tasks that have not added any value to the business. No one has blamed me for it and it would not have been fair either.

It was very green and there are things that you only learn through experience. Time is worth gold but at first you treat it as if you have plenty. The big problem is that you don’t have data to know which of the activities generate the highest return on investment.

My Top 7 Activities to Lose Time Effectively

Each entrepreneur accumulates different experiences. What I consider a waste of time to others may be time well spent. As I have said on other occasions, I am aware that truths do not exist, but only opinions and experiences.

1. Events for entrepreneurs : in my first events I have had the feeling of being totally lost. You’ve heard that you have to do networking and you start talking to people you don’t know. You feel clumsy and me personally like an idiot for the purpose of exchanging business cards. I’m not sure but I don’t recall any contacts generated through these events that generated business later on.

2. Meetings That Require Long Trips :

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My record has been a round trip in the same day of 17 hours to have a 30 minute meeting with a potential client in Italy. 2 years later a campaign of 500 euros arose. Words fail me to describe how pointless and clumsy this trip has been.

3. Page on Facebook : I admit it. I’m not from Facebook and I don’t get the trick that others do. Personally, I don’t know very few entrepreneurs who get an economic return on the time invested in Facebook. At the level of start-ups I don’t know anyone. Although the creation of the Coguan page was not done personally, I consider it as a resource that could have been better invested in another way.

4. Job interviews : at the beginning we did job interviews of more than 1 hour. It’s normal you might as well think. That’s what I thought at first too. After interviewing about 50 people for different jobs within Coguan, I realized that the only relevant thing is the first 5 minutes. Then we totally changed the concept and shortened them to 10 minutes, interviewing more than 20 people in one day.

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