Surely, there is no surefire bullet to be a successful entrepreneur.

The techniques,
actuations and management acumens among entrepreneurs could be define in a continuum. The
way entrepreneurs attain their business goals differs in so many ways it could fit a broad
spectrum.
However, there are obvious, justifiable and consistent patterns which could define either
triumph or disappointment of a business endeavor. How an entrepreneur reacts and solve
problems and challenges defines the future of his/her business as decision making skill is a vital
lifeline of a business. As the old adage says, success could be defined in so many ways however
failure could only be defined in one way. Failure is the inability of a person to reach his/her goals
whatever they may be. Thus, it is fundamental to study the common errors or misjudgments done
by entrepreneurs in establishing and running a business venture. Here are to run through with
some:
One of the most common lapses among entrepreneurs is the lack of vision. Many young
entrepreneurs get into business without giving a lot of thought as to its implications, they don't
know what they want to achieve and what it takes to achieve their goal. Achieving business
success has a lot to do with the personality and habit of an entrepreneur since it is a fundamental
fact that goals and an entrepreneur’s vision will shape the future of the business. If the goal is to
create a large company, then the habit of procrastination will not help achieve it. An entrepreneur
should have a clear vision and goals of how he/she would direct the business to the achievement
of its end aspirations.
Lack of focus is another common blunder committed by a budding entrepreneur. Some
people have the habit of dabbling into a lot of businesses at the same time and not focusing on
one. This results in the division of focus and thoughts of a person which could be fatal to all the
business which he/she handles.
Another major mistake entrepreneur make is their inability to acknowledge shortcomings.
They suppose that their business, concepts and everything they do is the best thereby turning
deaf ears to the guidance of others. It always helps to acknowledge and rectify mistakes
immediately upon its discovery because this will help avoid horrendous hazards in the future.
Always give ears to what others have to say and don’t pretend to be a know-it-all, this is key to
achieving sustainability and success in a business endeavor.
Greed is another deadly mistake which an entrepreneur could commit. This means that an
entrepreneur enters a business endeavor without any research or formal study, he/she was just
swayed because of the promise of high returns and rewards but in fact he/she has no concrete
knowledge to carry out the business. Focusing on the money and not on the development of skill
could prove disastrous on a business.
Another mistake is the lack of business plan. A business plan defines all the activities that
an entrepreneur should make at the start of the business, how an entrepreneur will combat and
fight in times of problems and challenges and the disbursement of funds in case the business
picked up sails.
 These are some of the common errors committed by entrepreneurs that spark the failure
of their business. However, surely, doing the opposite of these outlined mistakes will produce
different results or the direct opposite of failure, which is success. Thus, studying these errors is
paramount to know how they affect the success or failure of an entrepreneur and his/her
business.