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Dan Lok Show

5 Things Smart Entrepreneurs Never Do

Dan Lok Show

Dan Lok

Careers, Management, Entrepreneurship, Business

4.8826 Ratings

🗓️ 11 December 2023

⏱️ 10 minutes

🧾️ Download transcript

Summary

There are 5 things smart entrepreneurs never do. Even the most veteran entrepreneurs make mistakes and do things they shouldn't do. And that's ok. So in this episode, Dan Lok reveals the 5 things smart entrepreneurs never do. Listen to this episode to find out.


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Transcript

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0:00.0

Are you a smart entrepreneur?

0:05.0

Do you know the five things that smart entrepreneurs never do? Number one,

0:23.0

smart entrepreneurs they never micromanage. Now I want you to imagine back then when

0:29.8

you are starting your business. Now I remember when I was starting my first few

0:35.2

businesses I was a control freak where I was the king of micromanagement.

0:41.4

I wouldn't know all the details,

0:43.1

because in the beginning of your career, your business career,

0:46.7

you are doing everything.

0:48.0

You are the one man, one woman show.

0:50.1

You are selling, you are closing,

0:51.8

you are doing the invoice, you are doing the marketing, you're meeting with people, you are doing the fulfillment, you are taking a phone call, you are closing, you are doing the invoice, you are doing the marketing,

0:54.2

you're meeting with people, you are doing the fulfillment,

0:56.8

you are taking a phone call, you're dealing with the receipts,

1:00.0

and you are trying to make sure everything don't fall apart,

1:02.7

you're talking to everybody,

1:04.2

and you have to micromanage because that's what you need to do.

1:07.6

But after a certain point,

1:08.9

that behaviors, even as you grow, stay. Because that's how

1:14.2

you know. That's what it takes to grow a business. I've got to know everything. I've got to micromanage.

1:18.2

But then what happens is as your revenue grows, you will hit a glass ceiling. And that behavior,

1:25.0

as a rugged individualist, as a control freak, does not serve you.

1:29.7

If you want to go to the next level, you have to let go.

...

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