10 Things An Entrepreneur Should Never Say

Image via Shutterstock

There are many blog articles and websites with catchy titles and lists about what one should or shouldn’t do in life. Things like “The Top 10 Most Fattening Foods,” “10 Ways to Be Sexier in the Bedroom,” or “10 Great Investments to Make This Year.” Sometimes knowing what not to do helps me more than a checklist would. So, in the spirit of lists and such, here are the 10 things an entrepreneur should never say:

1. “I don’t want to hear bad news.”

“…I think my most important job as a CEO is to listen for bad news. If you don’t act on it, your people will eventually stop bringing bad news to your attention and that is the beginning of the end.” — Bill Gates

While no one looks forward to receiving the “Houston, we have a problem” notification, ignoring news that is bad is even worse. Often times, the easiest way to combat bad tidings is to hear it quickly, brainstorm on how to fix it, and execute an action plan before it gets any worse.

2. “I should expect to lose some money.”

“My two rules of investing: Rule one — never lose money. Rule two — never — forget rule one.” — Warren Buffett

While losing money may very well be a part of life and business, don’t go into any deal with the expectation that you will lose anything. Keep your mindset on perfection and don’t settle for anything less. If you end up losing a little, just learn from it and purpose to get it back quickly!

3. “I missed my perfect business!”

“Business opportunities are like buses, there’s always another one coming.” — Richard Branson

Everyone has missed chances to be successful as they went through life. Most could think of stocks that should have been bought, ideas that should have been developed, or businesses that should have been started. But, if you dwell on the past and think that one chance is all you will ever get, then it probably will be. Go out looking for your perfect business instead of wandering around memory lane feeling sorry for yourself.

4. “What’s in it for me?”

“Successful people are always looking for opportunities to help others. Unsuccessful people are asking, What’s in it for me?” — Brian Tracy

As long as your mind is focused on yourself, you will be limited in what you can accomplish. Businesses are usually good ideas because they help someone, solve a problem someone has, or make life easier for people. It is very hard to do any of this while looking only at what you can get out of something.

5. “I leave my work at the office.”

“I do not believe a man can ever leave his business. He ought to think of it by day and dream of it by night.” — Henry Ford

While there are some professions that will allow you to “clock out” at the end of the day, being an entrepreneur usually doesn’t warrant that luxury. Great ideas and innovation shouldn’t be limited by a workweek, a wall clock, or a schedule. Take breaks as they come but never bail on an idea because it requires overtime.

6. “I play it safe.”

“Twenty years from now, you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” — Mark Twain

Remember when you were a kid and your Mom always told you to be careful? While that advice may have gotten you through school with fewer scars, it won’t carry you very far in the real world of life. If you want to be a successful entrepreneur, you will have to learn to make a few jumps without a safety net. Fear should be a driving factor, not a reason to hide in the corner.

7. “I don’t have to be number 1.”

“Once you say you’re going to settle for second, that’s what happens to you in life.” — John F. Kennedy

Why is it that we are scared of being the best? If you are going to go through all the hard work, risk, and stress of life, you should at least plan to be the best damn you that there is. Don’t ever resent or belittle your rank of today, but don’t settle for it either.

8. “I want to do what makes the most money.”

“You must fall in love with what you do, because being an entrepreneur is a lot of hard work, and overcoming a lot of adversity. From that love will come the dedication that will get you out of bed at 4 a.m. because of a great idea you just had and get you to work till 11 p.m. and not feel tired.” — Ken Field

Sure, who doesn’t want to make money in their life? But if you choose a profession or a business for that reason alone, it won’t be enough. Doing what you love will bring passion, which will get results. Doing it for a paycheck will eventually affect your work and then cost you.

9. “Data is better than instinct.”

“Experience taught me a few things. One is to listen to your gut, no matter how good something sounds on paper… sometimes your best investments are the ones you don’t make.” — Donald Trump

Sure you want to see the stats on something before you make a decision. Analytics have tremendous value. But, when it comes right down to the wire, trust your instincts. Follow your gut and don’t be afraid to walk away from something that bothers your integrity, doesn’t line up with your vision, or just feels wrong.

10. “I leave the work to someone else.”

“The way to get started is to quit talking and begin doing.” — Walt Disney

The biggest mistake that any entrepreneur can make is to think that life is more about vision than work. In reality, one vision that took just a few moments to draft can take a lifetime to see through. To be truly successful, you have to be willing to dream big and then work harder than anyone else who had the same idea.