Last Updated: January 21, 2013 4

Three Bad Qualities of Entrepreneurs

Found In: Employment

The business world is home to good and bad entrepreneurs. High-profile crooks like Bernie Madoff give business talent a bad name. As a business owner, you can work hard and build your business using reputable business practices. Climb to the pinnacle of success without taking advantage of ethical loopholes or scamming customers or investors. Avoid these bad qualities of entrepreneurs

1. Dishonest. Along the path of entrepreneurship, you will face many decisions that affect how customers and suppliers perceive you. When you set prices, handle customer complaints, issue refunds, advertise, or perform hundreds of other tasks, focus on doing things by the book. Even when you think nobody is watching, somebody is paying attention. For example, telling a little white lie here and there to customers can lead to bigger problems with your business credibility.

2. Indifferent. Customers gravitate to small business owners who express in words and actions that they really care about their clientele. For example, small business owners get to know customers as they become repeat customers. If you interface regularly with customers, you need to avoid the temptation to get so tangled in management that you approach customers with indifference. Continue to provide the same quality of service you offered in those hungry days when you were proving yourself in the business arena.

3. Disrespectful. Customers also judge you by how you treat your employees. Some business owners are so focused on themselves or other aspects of their business that they disrespect employees. If this behavior occurs in the presence of customers, the business owner damages his or her reputation. When you manage employees, you learn common approaches for dealing with performance problems away from customers. For example, use staff meetings, one-on-one conferences, written feedback, email, and other tools for letting employees know when they need to improve their performance.

The reputable business owner gives proper attention to decorum and ethical business practices. The face of the small business is everywhere that customers and suppliers interact with the business. Maintain honesty and professionalism in all business transactions and remember to treat your employees and customers with respect. Your attention to these aspects of entrepreneurship will help you build a respected position in the community.

By Angela Baca