April 3, 2020 Last updated April 15th, 2020 416 Reads share

7 Bad Habits Holding Your Business Back from Success

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As humans, our daily routines and habits shape who we are. And as a business owner, your habits (the good, the bad, and the ugly) shape your company. We either build good habits that help us achieve our goals or bad ones that cut down our ability to succeed.

If you want your business to be in good shape in the future, know which habits are weighing you down.

As a business owner, you pick up some nasty habits during your entrepreneurial journey. So, what kind of habits are holding your business back from the success it deserves? Check out seven bad habits you need to kick to the curb.

Letting Failure Control You

As you probably know by now, failure is a major part of being an entrepreneur. You’re going to make plenty of mistakes along the way. And, you’re going to fail.

When I was a young and aspiring entrepreneur, I wish more people told me that failure doesn’t define you. Your actions do. You can either make the best out of a bad situation or you can let failure control you.

If you want to be a successful business owner, you have to be willing to accept failure. Instead of being consumed by failure, embrace it. Learn from your mistakes and use those lessons as a foundation for your company’s success.

Fearing Change

If one thing in life is constant, it’s change. As an entrepreneur with over 30 years of experience, I’ve had to learn how to adapt to and accept change. If I didn’t, my accounting and payroll software company, Patriot Software, wouldn’t be as successful as it is today.

In business, change is inevitable. You have to be willing to change things up to succeed. Don’t let the fear of change be what holds your business back from success.

To overcome the fear of change, focus on the positives and don’t be afraid to ask for help or support. And, keep in mind that change doesn’t have to be scary. Change might just be the thing you need to guide your business to success.

Staying in Your Comfort Zone

Your comfort zone is a safe place, right? Wrong. Your comfort zone can be a dangerous place, especially for entrepreneurs.

One bad habit you need to kick is staying in your comfort zone. Sure, it can feel great to play it safe. But, being an entrepreneur is all about taking risks and breaking out of your comfort zone. Not to mention, stepping out of your comfort zone has tons of perks. You can:

  • Learn new business and life lessons
  • Meet new people
  • Grow yourself and your business
  • Spark creativity and innovation
  • Boost productivity
  • Learn how to handle curveballs

I had to step outside of my comfort zone when I started each of my ventures. I’ll admit, it wasn’t my favorite thing to do at first. But, leaping outside of my comfort zone forced me to do things I never thought I would or could do. It made me a better business owner and led my companies down the path to success.

Micromanaging Your Team

Do you find yourself constantly hovering over your employees (or co-workers, as I like to call them)? Do you have trouble delegating tasks? If either (or both) of these are true, you might have a wicked case of micromanagement.

No one likes a micromanager, especially your co-workers. If you’re wondering what’s holding your business back from success, ask yourself this: Am I a micromanager?

Not sure if you have micromanager characteristics? I’ve got you covered. Here are some signs that you’re being a micromanager:

  • You don’t trust employees to do tasks on their own
  • Co-workers avoid you
  • You have the urge to control everything
  • You check in with employees multiple times a day

If you find that you’re being a micromanager, take a step back. Have some faith that your team can handle tasks without you breathing down their necks. And remember, you hired your employees for a reason. Trust that they know what they’re doing and let them know they can come to you with questions.

Taking on Too Much at Once

As an entrepreneur, you’re constantly trying to keep up with all of the spinning plates. And, you may feel like with one wrong turn, a plate can come crashing down to the ground.

Entrepreneurs tend to spin too many plates (aka take on too many tasks) at once. As a seasoned entrepreneur, I’ve definitely been there. And at some point, you probably will be, too.

Studies show that multitasking can reduce productivity by as much as 40%. Focus on handling one project at a time instead of juggling multiple tasks at once. I know, I know. Easier said than done, right? But the more you do it, the easier it will get.

Blaming Others for Your Mistakes

When you were a kid, you likely passed the blame onto a friend or sibling to avoid getting into trouble at some point. Some people grow out of this habit, while others don’t. If you’re an entrepreneur who likes to shift the blame onto others, you might have to say goodbye to business success.

If you want your business to survive in this crazy world, you need to stop shifting the blame off of your shoulders. Instead of making excuses for yourself or passing blame onto others, own up to the mistakes you’ve made. Blaming others at your business is not only toxic, but it also drives top talent away.

Rather than looking for reasons why something isn’t your fault, fix the problem, learn from your slip-up, and move on.

Being a Perfectionist

We all know by now that nobody is perfect. But, that doesn’t mean us entrepreneurs don’t strive to be perfect in all things we do. And believe it or not, aiming for perfection can hold your business back from success.

When you constantly strive for perfectionism, you’re only setting an unrealistic bar for yourself. If you want to be successful in business, you need to stop letting perfection hold you back.

Instead of setting unattainable expectations for yourself and your business, accept the fact that you will make mistakes—and that’s OK. Mistakes will only help you grow stronger. And, mistakes will make your business stronger in the long-run.

So my fellow entrepreneurs, throw perfection out the window and don’t be afraid to falter.

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Mike Kappel

Mike Kappel

Mike Kappel is the president of Patriot Software, LLC., which develops online accounting and payroll software for small business owners. He has also founded four other successful small businesses, and he is passionate about helping other entrepreneurs find their way to success

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