Today I want to go over the most common mistakes small business owners make when they want to start their business and quit their day job. First, I have to tell you that I have made pretty much all of these mistakes. You aren’t alone if any of these you have made. Many of the things we are going to talk about are all foundational and include mindset of going employee to an entrepreneur as well. Listen in! These are the things that might be in your way of making your dream business happen.
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5 Small Business Mistakes You Should Avoid
Mistake #1: No Business Plan
The first mistake is thinking you have a great idea and it’s time to start without a solid plan. An idea isn’t going to make you rich. You have to have solid action steps and a business model that is actually going to work.
Instead, create an easy business plan here.
Mistake #2: Spending Too Much Money
Some investment is necessary. There are startup costs but you can keep it simple. You don’t have to go big and invest in a nice fancy website for thousands of dollars. I actually do not recommend that.
Instead, you can start with a small budget. Start hustling and find those first clients. Once you are making an income, then put more cash into your new business.
Mistake #3: Making Things Perfect Before Launching
Mistake #3 is waiting too long to launch. Taking too much time for thinking and not enough time taking action.
When I started, I sold a course I hadn’t even created yet. I didn’t wait and think about it. I’m all about the action. I put my course out there, someone bought it and I HAD to create it. I recommend that you test, sell and create as you go. If I think too much I get paralyzed!
Instead, how can you start selling right now a beta version of your product or service? Start now!
Mistake #4: Not Surveying Potential Clients
Mistake number 4 is not really understanding who your ideal client is. This is a big mistake if you do not solve an actual problem and an urgent problem that your ideal clients have.
Instead, create your products and services with your clients and survey them as you go! I enjoy creating as I go because it becomes a much better product than me in my office creating this program I think that people will want. Trust me, I ‘ve done the do it alone process and those products always flopped. So learn from me!
Mistake #5: Not Being Passionate About Your Business Idea
The fifth mistake is starting a business you aren’t passionate about just to make money. It’s really important that you know your interests, values and motivations before starting your business. Start a business that you will love doing because it’s really never just about the money. It’s tough growing a business and you need to be passionate about it in order to get through the tough times when you feel like quitting.
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