It does not matter how great your vision is and passionate you are, two or three bad habits can drive a business into the ground. There are several common traits of entrepreneurs who fail.
1. They blame others or outside forces.
Entrepreneurs who are always blaming the economy, the customer, the way they were raised, their employees, the weather, the marketing manager, the competition or anything other than themselves for their current situation will never be successful. Successful entrepreneurs own their success and are ready to take the blame and resolve to make a change.
2. They are dishonest.
Cheat their employees on paychecks or lying to a customers is an obvious example of very dangerous dishonesty, falsely praising employees, one should give candid criticism and credit where due. Tell the truth; if something is rubbish don’t be afraid of saying cos that’s how shitty products go to the market.
3. They are lazy.Someone once said “Show me an entrepreneur, who sleeps in, shows up late, doesn't read, and doesn't like hard work, and I'll show you a failing entrepreneur," If you are a real entrepreneur most likely you will have many sleepless nights and money problems. You will become impatient cos time in not your friend, you have to get things done.
4. They are convinced they know it all.
Self-confidence is a important trait for anyone setting out to start a business, but you need to control your ego. Entrepreneurs who fail are too proud to admit that they do not know some things. It’s always good to know what you don’t know early enough to avoid from making mistakes. The moment you start thinking you have it all figured out up to a point you start believing your own bullshit that’s the moment you start losing. Its really tricky to explain this point cos sometimes delusion is a quality you need, which conflicts with point. You have to believe something different will happen despite the current circumstances.