‘Eureka, I have found it’ describes the feeling you have when you think you’ve come up with an idea that’s so amazing that will give you immense success. Now you only have to put that idea into action. And that’s not where most entrepreneurs fail. No, most business mistakes happen when entrepreneurs don’t take the right action. Taking the right action is very important, because you really have to understand how the ‘game’ works. Unfortunately, most entrepreneurs think that they’ve come up with an idea that no one has ever thought about and so they think they have to act fast, before someone else ‘steals’ their idea. This is one of the many business mistakes a beginning entrepreneur can make… This post will make you aware of 3 very common small business mistakes that unfortunately have a large effect on your journey to success. Read this blog thoroughly and make sure you learn from it!
Expecting success right away
This is one the most often heard business mistakes and when you really believe this then entrepreneurship might not be the thing that you think it is. When entrepreneurs finally have worked out their whole plan of attack and they begin with taking action, they’re most likely to expect that everything should go well since they’re following their plan of execution. They would expect success very soon and this expectation is often the pitfall for many entrepreneurs. When you’re expecting to achieve success just after you’ve launched your business, you will start losing faith in yourself when you won’t. And when you start losing faith in yourself, that’s when everything else goes downwards. So the best thing you can do is to stop expecting success right away or when you follow your plan of attack. Instead of expecting, try faith. Have faith in yourself that you will achieve success no matter what. That your idea will succeed no matter what. Having faith in yourself can help you achieve great heights that you never knew were possible.
Not getting their brand ‘out there’
So what entrepreneurs think is that when they’ve got an idea and when they’ve registered the company they just have to start grinding and grinding with the intention that it all will pay off in the end. It won’t pay off, if nobody knows your company. It won’t pay off if nobody has ever heard of you. When you finally got your product/service ready and want to launch it, then my question is to whom? Who wants to hear about a product/service they’ve never heard about before? The answer is simple: nobody. You’re setting yourself up for an unnecessary failure. The best way to build up a pre-hype for your product is using social media. Social media is free and it only attracts targeted audiences. So when you’ve got an interesting product/service and people are interested in it, they’ll start to follow you and you’re starting to raise awareness for your product/service. You’re getting your name ‘out there’ and you’re building a loyal audience who will be very interested in what you have to offer. So start getting your name ‘out there’ by getting your brand on the hottest social media platforms.
‘The competition is worthless’
When you assume that you’ve got no competition or whatsoever in your niche, you’re overestimating yourself. Overestimation is one stupid business mistake. Out of all beginner business mistakes an entrepreneur can make is being cocky a really tragic one. If you assume that your competition is worthless and that they’ve got bad products/services, you’re missing out on valuable information. To remind you, your competition also started with an idea that they could deliver more and better things than what was provided at that moment. So don’t write your competition off that easily. Maybe you can learn from them what not to do. Or maybe you can look at what they’re doing great, but not perfect. That aspect at what they’re not doing so well at is a sign for you to come up with an improvement that will make their product/service looks outdated. These are one of many things you can learn when you are aware that you have competition and that acknowledge that they are not worthless!
The point of this blog was to make you aware of the fact; that you don’t have to make the same mistakes like everybody else. You will fail many times, but that doesn’t mean that you shouldn’t try to avoid it. Of course, there are a lot more potential business mistakes a beginning entrepreneur might have to deal with. But as long as you keep your chin up and have faith in yourself, I believe that you can overcome any obstacle in your life.
My question for you is: have you made any business mistakes with your start up? And do you think was the most awful one?
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