Self-development

How to Sidestep Personal-Development Pitfalls as a New Entrepreneur – Entrepreneur

Summary

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Despite the pandemic, more people than ever in the United States want to be entrepreneurs. The U.S. Census Bureau reported that more than 4.4 million businesses were created during 2020 — the highest yearly total on record, a 24.3% increase from 2019 and an impressive 51% higher than the previous d…….

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Opinions expressed by Entrepreneur contributors are their own.

You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media.

Despite the pandemic, more people than ever in the United States want to be entrepreneurs. The U.S. Census Bureau reported that more than 4.4 million businesses were created during 2020 — the highest yearly total on record, a 24.3% increase from 2019 and an impressive 51% higher than the previous decade’s average. That means a lot of new professionals were and are learning on the job, many yearning for skills that will set them apart and make their concepts successful. However, these dreamers can also quickly fall for the “shiny object” syndrome: a desire for the trendy new side hustle. This is often because, for some, a desire for entrepreneurship comes from a place of fear of missing out (FOMO). A person might, perhaps, hear about a colleague who has been able to retire early, or drastically cut back their day job. Though inspiring, these tales are not the norm, and should not be principal factors in trying entrepreneurship.

Related: How to Pick Your Best Idea and Leave FOMO Behind

I’ve spoken to thousands of doctors on the power of entrepreneurship, and what seems to resonate best among them is the idea of impact — certainly everyone I know who went into the profession did so to make a difference and leave the world a better place. Unfortunately, this impact is blunted due to other responsibilities, such as negotiating with insurance companies or thumbing through electronic medical records. That’s why I helped create a physician entrepreneur accelerator that has helped hundreds of doctors create and scale their businesses; if I had access to it when starting, I could have avoided many of the personal growth traps detailed below. 

Why personal development can be a trap

We professionals are used to going down a well-trodden path, one that incorporates college and graduate school, and for us doctors, ongoing and highly structured training. We expect that, in the end, the result is a considerable level of expertise. In the personal development world, however, there is no such structure. There are countless self-help books, podcasts and coaches to get you going, and while many are useful, it’s easy to simply consume and consume them. As a result, you never feel quite ready to take the leap… to actually take action.

We can also fall into “analysis paralysis”. I have seen countless doctors stuck for months trying to decide upon the best type of microphone to use for a podcast, or upon the exactly right software for coaching. But there is rarely a “best” anything, and most often, needs change as we progress. We might think that we have educated ourselves on minute differences, but in actuality, exhaustive examination of minute details costs countless hours of practical experience. 

Learn new things, then apply them

So how does one …….

Source: https://www.entrepreneur.com/article/389466