9 Common Mistakes Business Owners Make

The new year is a great time for business owners to review the mistakes of the past year so they can be corrected in the next. There are nine areas where small business owners typically make mistakes. They are as follows: nn
• LACK OF SELFISHNESS
Being selfish means asking, ''How do I protect my time, energy and money, so I am only spending them on those things that will take me closer to my goals?'' This kind of intelligent self-interest allows you to make sure your precious resources are being spent only on activities that benefit you and your company.

• LACK OF OWNERSHIP
Taking ownership means making changes to move forward, changing behavior that is not working, and dealing with the world as it is — not as you want it to be. This isn't the same as ''being responsible.'' There are too many exte
al influences for you to be responsible for everything that happens to you. Ownership is about deciding how you respond in a situation.

• NOT MEASURING RESULTS
You cannot manage results, but you can manage the behavior that leads to desired results. Results are always measured in the past. If you are not getting the results you want, change your behavior.

• NOT TREATING PEOPLE THE WAY THEY WANT TO BE TREATED
Many business owners do not take the time to understand people and how they want to be treated. Recognize that others contribute to your success, appreciate them for that contribution, and give credit where it is due. Meanwhile, assume complete responsibility for things that are not working, realizing you hired the people, created the strategy or managed the process.

• LACK OF FOCUS
Many business owners chase all revenue opportunities, even if they are not part of their core competency. Focus on your desired outcome and ask if what you are doing is taking you closer to that goal. If not, ask why you are doing it.

• LACK OF DISCIPLINE
When you find out what works, keep doing it. This can be accomplished by creating measurable, repeatable, predictable processes that eliminate the guess work.

• LACK OF PERSISTENCE
Business life is not smooth, but keep your eye on the target. Successful people will find ways to overcome the obstacles.

• NOT TAKING ACTION
Correct things that are not working. If you do the same thing you've always done, you'll get the same result.

• TOO MANY IDEAS
People tend to focus on too many ideas. If you are not clear on your goal, the abundance of ideas will just get you farther off track. n