Challenges to Sustain and Scale up Business

Entrepreneurship

Premise

Hope these posts are useful for you. Many of you may be already practicing this; such people can help me by giving feedback to improve this series of posts. For others,  this will be helpful. The posts will be from what I have read, heard and seen as well as my views and experiences. Today’s post is the one part of Entrepreneurship. 

Key challenges for entrepreneurs to sustain and scale up Business.

In this series, I will talk about the challenges I went through as well as I have observed people making them. We will look at what are the  Most Common Mistakes we make as an entrepreneur, which prevents us from scaling up  business. At the end we will get a clear picture of what has to be avoided.

1.  Will not let go. Want to control everything. Will not delegate.

You will do everything by yourselves due to the fear that others may not do it perfectly. You may need to spend time training him and then redo it if he has not done it as you desired. So, you will think why waste time. Instead of spending twice the time, it is better for you to accomplish the task in half the time. 

The consequence of this 

• It will eat up your bandwidth. 
• You will be overloaded. 
• In the long run you will get burnt out.

Also, You will not be able to  do your task consistently. You will become a bottleneck. Many tasks will wait for your time.So you will not be able to do it as planned. You will be fire fighting. 

This is mainly for the Entrepreneurs at the macro level, but holds good even for a team leader like in the IT industry. So, whoever has a reportee, they need to delegate their work properly to their subordinate or share with their peers to avoid this. 

In short, you need to delegate to overcome this challenge or in order to avoid this mistake.