So, you’ve decided to start your own business. Created your business plan and have all the steps in order. So excited to let everyone know and to immediately get clients and get started. But you will make mistakes and it’s OK.
Robert F. Kennedy said it best, “Only those who dare to fail greatly can ever achieve greatly.”
Here are mistakes that most entrepreneurs make:
1. Overspend – Depending on your type of business, with today’s technology, you can just about start a business on a low budget. Don’t overdo it on your first year. Take it one step at a time and learn from your mistakes.
“Success is most often achieved by those who don’t know that failure is inevitable.” – Coco Chanel
2. Comparison – Don’t compare your business to others. Some succeed immediately while others don’t and some will support you while others you may never see again. Stay away from negativity and keep your circle small.
“Everything you want is on the other side of fear.” – Jack Canfield
3. Niche – If you don’t know who you are selling to then you will never know how to run your business. Your first order of business is knowing who your clients are and creating a business relationship with them.
“Failure isn’t fatal, but failure to change might be” – John Wooden
4. Invest – There are a few things that you would need to invest in so that your business will grow and prosper. Marketing your business is major and is one investment that should be on the top of the list. Networking is another but this may not be a huge expense. You do need to get out there and sell you and your business so that you can bring in the clientele.
“If you’re not prepared to be wrong, you’ll never come up with anything original.” – Ken Robinson
5. Outsource – One major issue that many or maybe all entrepreneurs have is that they think they can do it all. I know, because when I am asked what are my weaknesses, I say that it is to share a project because I think I can do it all on my own. That then leads to overwhelming and frustrating situations. Delegate your tasks, hire a Virtual Assistant, create a team that will collaborate with you in achieving your goals.
“I have not failed. I’ve just found 10,000 ways that won’t work.” – Thomas A. Edison
Here’s to mistakes, learning from them and moving forward!