Running your own business is a challenging task, let alone trying to make it profitable. Many entrepreneurs have struggled, even the successful ones, but their perseverance and optimistic mindset have helped them overcome their obstacles and achieve their goals. There have been cases where entrepreneurs have mistaken their gut instincts and determination with stubbornness. They are so set in their ways that they fail to see the signs ahead or the people around them. This kind of single-minded approach is neither productive nor something that you should follow. While you must take responsibility for your actions and have faith in your abilities, you should also realize that you are only human and bound to make mistakes. Surround yourself with like-minded professionals and staff that can help you and your business progress forward.
Pace yourself and keep an open mind
It’s not easy to be a business owner, and there are no manuals or instructions that can help guide you along the way. The professional world is a cut-throat environment, and you must keep your place in the race lest you fall behind. We understand that it creates quite a problem when balancing slowing down and reflecting on your business decisions with meeting tight deadlines. If you wait too long, it might cost your reputation and revenue. The point is to find the right balance of self-confidence and humility. Sometimes you need to leave your ego at the door when making business decisions that you don’t necessarily believe in or contradict your ideas. Remember that your business is an extension of yourself and needs to be nurtured in a positive environment to grow.
Find the balance between ego and humility
With the rise of social media and the need for all businesses to have an online presence, your business will be more vulnerable to criticism and feedback. Try to take the good with the bad and remember that although not every complaint is personal, some of them may have merit behind it. It would be best if you had it investigated and resolved to the best of your ability. A famous example of an entrepreneur that was too stubborn for its good was Amy’s baking company, as shown on the TV show Kitchen Nightmares. The owners refused to accept criticism, which proved to be detrimental to their restaurant business. When exposed on television for the world to see, they had to shut down their business. Even after the episode, their belief they were not at fault went to the point their stubbornness turned into ignorance.
You’re not alone, and keep yourself surrounded by the right company
It’s vital that you surround yourself with people who are just invested in your business as you are and that you should take their feedback and ideas into consideration. Remember, the final decision will always be yours, but gaining other people’s perspectives can help shape your decision and provide you with some new insights. If you’re unsure about a business decision and don’t agree with all the offered ideas, perhaps try having a third-party company or professional look and provide their expertise. You are always entitled to a second, third, and even fourth opinion, and even then, the answer isn’t so cut and dry. The solution could have been an amalgam of all the choices presented.
The idea that stubborn individuals are too egotistic and are like that by nature is not accurate. They may have had some bad experiences in the past, were listening to others’ feedback may have cost them money or their business. It isn’t a simple matter of a black and white situation or that every problem has a single solution. As mentioned earlier, all enterprises must overcome obstacles and trying times to persevere. It’s the entrepreneur vs. the world, whether outside influences like the economy or a natural disaster or internal pressures surrounding its operations.
We understand that it’s hard to hear criticism, with someone telling us that what we’re doing is wrong, even if it’s a customer our fellow business partner. But we must consider everything. As Benjamin Franklin once said, “He that is good for making excuses is seldom good for anything else.” It seems unfair that you will have to take full responsibility for it, no matter your decision. That doesn’t mean that you discard advice or criticism in the future. It doesn’t matter how many times you fail; you need to succeed once. Entrepreneurs who were too stubborn and unwilling to open to new ideas and opinions have ended their businesses. It is improbable that they ever succeed with their business ventures if they refuse to let go of their grip and refuse to acknowledge that there was room for improvement with them or their business.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.