Deadly Business Mistakes I Made That You Can Avoid! A Mini-Series Part.2

Hello and welcome back to “Deadly Business Mistakes I Made That You Can Avoid! A Miniseries.” This Post will serve as Part 2 of weekly my miniseries and will continue covering firsthand experiences of detrimental mistakes my first ever business venture Conextus (Website: http://conextus.ca), made while I was one of its leaders. Just like Part.1 did however, I hope that Part.2 of this weekly miniseries will inspire you to take heed and avoid Conextus’ mistakes. Read On!

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Image Credit: Pixabay

Team Inflation

While a solid team is necessary for a successful business in Conextus we made the mistake of taking things to far with team building. As we were desperate to get the ball rolling, we built up a huge team that resulted in team inflation for Conextus! This meant we had too many members making it more difficult to manage the business team. On top of that the team expanded/inflated to quickly that carrying out commitment checks were made much harder. The team expanded way to quickly and this hindered proper management as the inflated business team of Conextus was often confused, disunited in a state of disarray.

As one of Conextus’ top leaders in charge of administration, I accept much of the responsibility in expanding the team too quickly, preventing to create a solidified team and failing to address the issue of Team Inflation until it was too late. While Conextus fortunately has survived as of now, Team Inflation was and still is a huge flaw in our business with the potential to cripple many new businesses! So with your business team make sure you take into consideration the mistakes of Conextus and take caution when it comes to establishing proper team! It is best to start early meaning you should focus on quality over quantity when it comes to building a team! It is much better that you have a few team members who are specialized (e.g. A team of four or if possible less with all members qualified and competent in their respective roles and able to support each other when need be) as this will make a more manageable team.

If your team is already too big you may have to let certain members go and keep the most competent members on your team unfortunately. However, focusing on building a small but quality team of highly skilled and competent members can easily avoid the sad process of letting team members go as a result of Team Inflation and inability to properly manage the business team!

 

When your team is small it is easier to manage and easier to get things done as you can work more intimately as a transparent more equal and fair partnership instead of a top down hierarchical management. A smaller more manageable business team provides more room for creativity, growth, intimate coaching along with trust, bonding and less stress among your business team making progress hence success possible through better team efficiency!

Entrepreneurship Lessons From Mars InSight 2018

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Image Credit: nasa.gov, NASA Targets May 2018 Launch of Mars InSight Mission

It has been announced by NASA on their website via http://www.nasa.gov/press-release/nasa-targets-may-2018-launch-of-mars-insight-mission that NASA’s Interior Exploration utilizing Seismic Investigations, Geodesy and Head Transport mission known as insight has been scheduled for launch on May 5, 2018 with a schedule Mars landing on November 26, 2018. You may be interested to know this Scientific extraterrestrial NASA mission to study Mars’ deep interior has great entrepreneurial lessons for those of us running and/or starting a business/s. Below are three great takeaway lessons from the above URL-article about NASA’s InSight Mission for your entrepreneurial ventures!

1) It’s The Little Things That Matter!

 A great entrepreneurship lesson NASA’s InSight Mission teaches is that in ventures it is the little things that matter! In the case of NASA’s InSight Mission it was a small issue that drastically affected the course of the Mars Geodesy mission. In particular, NASA’s InSight Mission was initially scheduled for a March 2016 launch only to be delayed by a faulty vacuum leak in its prime science instrument. Thankfully despite the delay, InSight’s science is being redesigned and the Mission is scheduled as of now for a May 5, 2018 Launch Date.

Hence, for your entrepreneurial endeavours it is the little things that can have the biggest impact on your plans! Just like a fault in NASA’s InSight Mission’s science instrument resulted in the postponing of the entire Mission, so can little faults in your business (i.e. The exit/entry of a single teammate, a small bug/ correction, the alienation/impressment of a single customer) can effect and change the course of your enterprise/s for better or worse!

Therefore, while focusing on the bigger picture, pay just as much attention to the little things (i.e. day to day happenings and the short term) going on in your enterprise and make sure these little things are addressed to strengthen your chances of entrepreneurial success!

2) Have A Plan To Bounce Back Quickly!

 When failure and/or setbacks strike your enterprise make sure you have a plan to bounce back quickly! Just like NASA’s Insight Mission despite setbacks and delays formulate a comeback plan. This plan was the InSight project management team communicating with NASA and the French Space Agency CNES on plans to redesign the science instrument and gaining the assistance of both these agencies in redesigning the science instrument! Hence, thanks to this bounce back plan Mission Insight has been given a new lease on life!

Likewise for your entrepreneurial undertakings have a plan when faced with setbacks and/or failures so your enterprises have a chance of resiliency/survival. Such plans can even be formed on short notice (i.e. with Mission InSight due to its unforeseen instrumental setback) so be flexible, be constantly planning, cautious and consider the unexpected to better your chances of survival in the event of setbacks!

3) Do Not Operate In Isolation!

As humans being social creatures cannot operate in isolation the same applies for enterprises, which are human and therefore social undertakings! Take inspiration form the recovery of NASA’s Mission InSight so your enterprises may also be resilient and adaptable in the face of hardship. The Mission Team of Project InSight did not operate in isolation but collaborated not only with NASA but also the French space agency CNES, NASA Jet Propulsion Laboratory (JPL) along with strong international partnership, with the latter led by Principle Investigator Bruce Banerdt of JPL.

Such collaboration and networks of Mission InSight aided the development of the mission equipment (i.e. German assistance in designing part of InSight’s lander) along with aiding the resiliency and recovery process of Mission InSight despite its setback exemplified by international contribution for the construction of InSight’s new vacuum leak enclosure!

Hence, when working on an enterprise, actively seek help from those outside your enterprise as ultimately these connections will bring valuable knowledge, skills and experience to the table, which can advance the design and popularity of your enterprise along with providing much needed resiliency and better chances for recovery/survival in times of trouble!

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Image Credit: mars.nasa.gov, Mars: Extreme Planet

I sincerely hope that you found this post beneficial for your entrepreneurial endeavours! Please keep in mind the three takeaway pieces of advice for entrepreneurship from the case of NASA’s Mission InSight and apply them for success in your own enterprises. The three above points are some of the main causes for the failure and/or stunted growth of many businesses. Fortunately Mission InSight as of now has overcome these and will hopefully have a successful mission launch to Mars in 2018. So keep your eyes posted on the status of Mission InSight and use the (So Far, Knock On Wood!) success story of Mission InSight as inspiration on your road to entrepreneurial success!