Sometimes, when an #entrepreneur is in this state they can easily fall into the trap of unbridled greed. Their ambition morphs into the ugly monster of avarice. Sadly, many never see it coming. Soon, in the need not to be left behind the entrepreneur either:
- Raids their accounts and burns cash without measuring ROI just to stimulate "rapid growth"
- Falls into the trap of customer pre-financing while neglecting their thin cash-flow levels. They need to out-compete the competition in getting customers, right?
- Borrows heavily. Over-gearing a business is the quickest path to its death.
- Tries to win in multiple niches. The idea here being the business needs "multiple income streams".
- Or focuses intensively in raising funds while neglecting the business all together.
The best solution is to simply focus on your journey. Competition will always be there. Other peoples' businesses will always look better than yours. But you are not them. This is YOUR business so take care of it. Control your ambitions by focusing on YOUR journey not THEIRS, YOUR growth and not THEIR growth.