The Entrepreneurs Life
Renting an office while the project is underway [/b][/b]
For an online-only business you do not need a physical office for a start, what you need is somewhere safe that you can develop the project alongside other members of the team, and if you do not develop web applications, all you need is contract the project for some people who will work on it for some period of time and deliver it to you
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Advertising too early while the project is underway[/b]
[/b]
This is different from the 2 above in that a lot of CEOs go about advertising what is not in existence, the project that is being developed, maybe for the purpose of enticing investors, but this is an error in the sense that, the investors will like to see not only brilliant ideas but also working ideas.
Recruiting wrong employees into wrong positions[/b][/b]
In recent times, a lot of CEOs do not seek the advice of people in business, the experts before recruiting into positions in their businesses. I have seen a CEO whose idea is online services but employed accountants, Customer Relation Officers, Chief Operation Officer even when there are no enough programmers, designers, system analysts in his ICT department, whereas, the success of the ICT department will warrant the services of accountants, CRO, COO. What customer does a Customer Relation Officer want to relate with if there is no products or services to sell to them.
Recruiting too much employees more than they require[/b][/b]
As an entrepreneur, you cannot afford to be wasting your money on employees who come to place of work to play computer games, who just come to chat to his/her friends on Facebook. Make sure you employ only the workers needed to do the work in your office.
Failure to follow their business plan accordingly[/b][/b]
A business plan includes work plan, strategies, tactics, and milestones etc, written for the purpose of the business, to be followed by the entrepreneur in order to attain success. Most entrepreneurs have very brilliant, viable and achievable business plans but they neglect their business plans once they start the operation of their business, this is a disaster.
Failure to impose meet-ups with deadlines and periodic reports[/b][/b]
Failure to pay attention to deadlines and periodic reports to the superiors by the inferiors is a disaster for any organization. The more an organization fails to meet up with deadlines the closer the organization to closing down.
Failure to make employees work as a team[/b][/b]
Team playing is the key to success if any organization wants to succeed in what they do, a lots of CEOs course rancor among their members of staff. The disadvantage of this is that, an employee working on a piece of work might be duplicated by another employee, who out of ignorance is doing the same piece of work with another co-worker; this brings about repetition and consequently failure to meet deadlines.
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[/b]
Failure to sign Non-disclosure Agreement and Non-Compete agreement with an employee[/b]
[/b]
A lot of entrepreneurs make these mistakes, a company that deal with clients information is supposed to sign agreement with the employees in charge of such information not to disclose to anyone the information about their clients, also, after leaving the company, there should be a particular period of time he cannot compete with the company, these will make the worker not to divulge their secrets to their direct competitors. A failure to do this can close down a company.
Paying too low for the employees who are the brains behind the development or manufacturing of the products and/or services[/b][/b]
Paying too high for the employees whose job description depends on the developing or manufacturing products/services[/b][/b]
Failure to train employees of the company[/b][/b]
Failure to pay employees salaries [/b][/b]
Failure to coordinate the employees[/b][/b]
As a CEO of a company, the job is to coordinate each and every member of company, oversee their affairs, encourage them, and see to their welfares and so on. Once any of these is missing, then the company is very close to 'out of service'
Subjecting employees to too many rules[/b][/b]
All the above dos and donts at the entire entrepreneurship process will help them overcome barriers in the same. [/b][/b]
Renting an office while the project is underway [/b][/b]
For an online-only business you do not need a physical office for a start, what you need is somewhere safe that you can develop the project alongside other members of the team, and if you do not develop web applications, all you need is contract the project for some people who will work on it for some period of time and deliver it to you
[/b]
[/b]
Advertising too early while the project is underway[/b]
[/b]
This is different from the 2 above in that a lot of CEOs go about advertising what is not in existence, the project that is being developed, maybe for the purpose of enticing investors, but this is an error in the sense that, the investors will like to see not only brilliant ideas but also working ideas.
Recruiting wrong employees into wrong positions[/b][/b]
In recent times, a lot of CEOs do not seek the advice of people in business, the experts before recruiting into positions in their businesses. I have seen a CEO whose idea is online services but employed accountants, Customer Relation Officers, Chief Operation Officer even when there are no enough programmers, designers, system analysts in his ICT department, whereas, the success of the ICT department will warrant the services of accountants, CRO, COO. What customer does a Customer Relation Officer want to relate with if there is no products or services to sell to them.
Recruiting too much employees more than they require[/b][/b]
As an entrepreneur, you cannot afford to be wasting your money on employees who come to place of work to play computer games, who just come to chat to his/her friends on Facebook. Make sure you employ only the workers needed to do the work in your office.
Failure to follow their business plan accordingly[/b][/b]
A business plan includes work plan, strategies, tactics, and milestones etc, written for the purpose of the business, to be followed by the entrepreneur in order to attain success. Most entrepreneurs have very brilliant, viable and achievable business plans but they neglect their business plans once they start the operation of their business, this is a disaster.
Failure to impose meet-ups with deadlines and periodic reports[/b][/b]
Failure to pay attention to deadlines and periodic reports to the superiors by the inferiors is a disaster for any organization. The more an organization fails to meet up with deadlines the closer the organization to closing down.
Failure to make employees work as a team[/b][/b]
Team playing is the key to success if any organization wants to succeed in what they do, a lots of CEOs course rancor among their members of staff. The disadvantage of this is that, an employee working on a piece of work might be duplicated by another employee, who out of ignorance is doing the same piece of work with another co-worker; this brings about repetition and consequently failure to meet deadlines.
[/b]
[/b]
Failure to sign Non-disclosure Agreement and Non-Compete agreement with an employee[/b]
[/b]
A lot of entrepreneurs make these mistakes, a company that deal with clients information is supposed to sign agreement with the employees in charge of such information not to disclose to anyone the information about their clients, also, after leaving the company, there should be a particular period of time he cannot compete with the company, these will make the worker not to divulge their secrets to their direct competitors. A failure to do this can close down a company.
Paying too low for the employees who are the brains behind the development or manufacturing of the products and/or services[/b][/b]
Paying too high for the employees whose job description depends on the developing or manufacturing products/services[/b][/b]
Failure to train employees of the company[/b][/b]
Failure to pay employees salaries [/b][/b]
Failure to coordinate the employees[/b][/b]
As a CEO of a company, the job is to coordinate each and every member of company, oversee their affairs, encourage them, and see to their welfares and so on. Once any of these is missing, then the company is very close to 'out of service'
Subjecting employees to too many rules[/b][/b]
All the above dos and donts at the entire entrepreneurship process will help them overcome barriers in the same. [/b][/b]