1. We dont ask enough questions. “Before you are ever a teacher, you are first a student.” There are SO MANY people with actual experience around you. Some you know, some are complete strangers. Some will happily answer your questions and some will not. Do not be afraid to seek advice. Stay opened minded and grounded in the fact the person you are askin, IS hopefully running a business. Actual experience is priceless, no business class can teach what being in the trenches and making it can.
2. We dont consider our audience/customer enough. Remember, you have to think like your customer. You have to be that person and think about what they want. Ask them! Give out samples of your product and get feed back. The Customer IS always right.
3. Hire the right help. A common mistake new business owners and entrepreneurs make is saving money on labor. While, this is important and not starting a business in a lot of debt is important, no one wants to deal with a warn out worker or someone who is not mindfully present. Take the time to bring in the right staff and remember this is based on CHARACTER not necessarily experience. Your bags under your eyes from doing it all will not likely bring back customers.
4. Saving money on professional advice. If a lawyer needs to look at a document, hire a lawyer to look at the document. You do not want to hire one after the fact. Now, yes, we often think we can have a friend look it over, or our neighbors cousins girlfriend who is in law school. These are not bad ideas but you will never regret actually getting the correct professional advice. You will wind up paying for it either way. Do you want to do it right the first time, Or prolong the process with lots of..”learning experiences” in between? Your bank account will suffer either way, just do it right.
5. Focusing on the competition. This is so easy to do especially when your starting out. There is always competition. They may have a big fancy websites or flashy business cards, but they also may close down or file bankruptcy a few months later. You just never know. Do not, focus on them. Focus on your product and your business.
6. Being Cheap with marketing. This is another common rookie mistake. Now, sure, it’s another way to save money starting out but if people don’t know who you are, you will never grow. Do the research, find the right marketing avenue for your lane and get your product out there.
Whatever you do, know you WILL make mistakes. That is the beauty of business and entrepreneurship. You don’t know, until you know. One of our favorite quotes is, ” You can’t get better at something you haven’t tried.” Get out there, do it, make mistakes and get back up!
Six Business Owning Mistakes
Thank you for reading.
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