Why experienced entrepreneurs aim at wrong direction

[Holicent]

Entrepreneurs are risk-takers by nature. They are not afraid to blaze new trails and be the first one to jump into the unknown. However, the challenge is that they tend to go after ideas that have already been explored and proven successful.

Why do experienced entrepreneurs aim at wrong direction?

It’s easy to get stuck in your ways, especially if you have been successful so far. You may think that everything you did in the past was correct, and therefore you should do it again. And if it worked well last time, it should work even better this time around. Wrong!

There are two main reasons why experienced entrepreneurs fall into this trap:

They don’t know any better because they haven’t been there before (yet).

They only focus on what worked for them in the past instead of asking themselves whether it will work for them in the future too.

 

[arunima25]

Experience is the biggest and best teacher in the life. Experienced entrepreneurs would have done something right in the past to reach to the stage of success. And like every human being, their series of success might get a setback by any silly or big mistake. Experienced or inexperienced, to err is human. I am sure that business needs a lot of planning, research,and risk analysis. And nobody would know it better than an entrepreneur who has done it in past and has been successful. But this despite all this, one could go in a wrong direction. There is always a fair chance to go wrong despite taking all the right steps.
Depending on the past right steps and on the basic instinct or gut feeling is a human nature and entrepreneurs are also human. Situations change at socio economic level and a smart business man would stay updated with them to start any new thing. Sometimes the right start and the right business fail to sustain due to some issues...not enough marketing or wrong marketing, failure in some process of execution or maybe a small mistake that made them pay a huge price. The reason can be any. Entrepreneurs have to self reflect abd correct it in time to bring the business back to track. Or atleast not repeat the same next time. Failures would be a part of any journey and it doesn't spare even the successful ones. It's important to learn from these failures to stay in market.