Egotrip and Entrepreneurship: 5 Signs Your Ego Is Getting in the Way of Your Business

[seonajmulislam00]

Egotrip is a combination of two words: ego (from the Latin, “I”) and trip (“trip” in English). In other words, it is basically a trip to the ego, a journey of the self. Now you must be wondering: what does egotrip and entrepreneurship have to do with each other?

Everything! An ego-driven entrepreneur is someone who believes in one absolute truth: his own. He is the kind of person who doesn't accept anyone's opinion and always does whatever he wants, even if it negatively affects his business.

And if someone complains or suggests another way… Oh, then they won’t change their minds. Businesses driven by ego trips have a high chance of failure, since decisions related to them are guided by ego and not by market research and analysis.

So that you can identify – and even escape – this type of thinking, we have brought you 5 signs that your ego trip may be getting in the way of your business, keep reading!

5 Signs Your Ego Trip Is Getting in the Way of Your Business
Your main concern is the inflow of money
The discourse of many gurus and internet entrepreneurs mexico phone number lead suggests that having your own business is synonymous with making a lot of money quickly. Magic formulas, such as 6 in 7 , suggest that only those who don't want to can't make R$100,000 in a week.

The reality is that it can take months or even years for your business to be successful and to achieve the financial return you desire. These tools can help, but there is a lot of work behind this “magic”. Keeping your feet on the ground and understanding that success comes in the long term is essential to undertaking without ego trips.

Wait for customers to come to you
Another common mistake is not making an effort to have more conversations with the customer, attract them to your social networks and website, or even make an effort to close a sale. If a customer does not receive support or have their questions answered, they will look for what they need from the competition.

You need to invest in marketing, create relevant and intelligent strategies to warm up the relationship with those who show interest in your company, even if they have not yet made a purchase.

ego trip
Does not set goals and objectives
Planning is the key to any business venture. A good entrepreneur sets the goals for his or her business, defines where he or she wants to go, and draws up an action plan. And don’t hide your goals for fear of someone “stealing” your ideas or anything like that.

These should be shared with everyone on your team so that you can achieve these goals together. Check out tips on how to set achievable, ego-free goals for your business here .

Underestimate your business growth
This is the maxim of egotrip: underestimate the competition and consider that your company will have a high market share in the first few months. No matter how innovative your product or service is, you compete with other market niches, even if indirectly .

In most cases, every percentage point of market share will be hard-earned. And the best way to ensure your business survives that long is with planning.

Invest your money badly
There are several factors that must be taken into account when determining the capital needed to open a business. If you sell products, you need to buy machinery and inventory. If you have a physical space, you need to include the value of the space and furniture.

However, there are some items that are necessary in all companies and that many ego-trip entrepreneurs do not take into consideration, such as investment in marketing and legal or business advice.

Then, when the business fails due to lack of planning, it is necessary to spend more money to get specialized help. The secret to undertaking without ego trips and with your feet on the ground is to research, plan and seek help when necessary.