Addressing the Common Mistakes Made by Businessmen

When joining the business industry, there is no doubt that you will come across many obstacles that will challenge your business decision making capabilities. Naturally there will be some mistakes made along the way – but there will always be some people who never learn from these mistakes.

People should be more like veterans in the business who have learned through trial and error to become better at their work and attain success from it, such as Hayk Grigoryan.

As a highly revered Armenian entrepreneur, who also takes on the role of an attorney and politician, Grigoryan has experienced many work positions that have helped him hone his skills and expanded his knowledge that has helped him make his way to the top in this competitive business world.

Before he became the founder of he founder of Grigoryan Law Firm – a reputable establishment that offers services in the Foreclosure Litigation, Family Law, Bankruptcy, and General Civilian Litigation – he initially started out in the Ministry of Labor and Social Affairs of the Republic of Armenia, the Central Bank of the Republic of Armenia.

At this time, he served as the Chief Legal Advisor of the ACRA Credit Bureau and engaged in various private legal practices in Armenia and the United States. In addition to that, he is admitted to practice before all Courts in California, which also includes the Southern, Central, and Northern District (Federal) Courts and Bankruptcy Courts for Northern, Central, and Eastern Districts.

And what is impressive is that this is just a fraction of his achievements within the professional sector. And he is also one of the few people who have made the least mistakes in their business ventures and effectively learned from his experience to further expand his business influence all over the world. Consequently, we reached out to him and learned some of the common mistakes many people in business tend to make when it comes to their business.

Holding Out For the Perfect Decision

Striving for perfection when making decisions can bring in unnecessary pressure and thus leads to ‘analysis paralysis’. Nobody likes being wrong which is why it is so difficult to shake off the idea that decision making sometimes requires you to take big risks. We might end up making the right decisions, or maybe not. What we need to embrace is the idea that making mistakes is all part of the learning process.

Only Relying on Intuition

It is a good thing that you consider your intuition as an asset when making decisions as it can serve an important purpose when you are making important decisions for your business. However, it is important that you realise that it should not be the only factor you rely on. The reason behind that is because intuition based decisions outweigh analytical thinking, which can lead to mistakes. Hence, we must first look into factual information, and then use our intuition to follow through data results to make a final decision.