By The Oracles A mastermind group for top entrepreneurs
'Wantrepreneurs' have Swiss-cheese mindsets with too many holes in their thinking.
What separates the entrepreneurs who make it from those who don’t? These uber-successful business founders and Advisors in The Oracles share the most common mistakes they see from aspiring entrepreneurs and explain how to overcome those mistakes. Here’s why some will never make it — and how you can.
1. They believe everyone’s advice.
Image credit: The Oracles Entrepreneurs often struggle because they listen to others’ advice instead of their instincts. Everyone has opinions. When you’re getting started, you’re going to hear a lot of people tell you no because “That’s a bad idea,” “You’re going in the wrong direction,” or “You should do this instead.”
For example, when we started Bluemercury, I wanted to create retail stores to complement the online business. Everyone said we were crazy, that pure e-commerce was the only way to go. But we became the first omnichannel retailer to go from clicks to bricks in the late 1990s. Today, we have almost 200 specialty stores as well as a thriving digital business. To succeed requires your own opinions and vision, along with the fortitude and persistence to act on what you think is right. —Marla Beck, co-founder and CEO of Bluemercury, which was acquired by Macy’s for $210 million; creator of M-61 Skincare and Lune+Aster cosmetics
2. They don’t put in the ‘work after the work.’