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Seven Mistakes Most Small Business Owners Make

Launched my first business seven years ago. Took me four years to make six figures. Im sharing the mistakes that I made and ones business owners still make. | Imperfect Concepts

We all make mistakes when we first jump into something new. However, with the level of information you can find on the internet, it’s easier to jump over the roadblocks most people faced when they launched. The learning curve can be easier when you do the first item on this list. I know it can be seen as boring, but the information you collect will save a lot of time, money, and stress.ย 

Skipped Research

I am beyond frustrated when I see people say “Become a Life Coach or Successful Business Owner in 90 days”. Sorry, not sorry it’s not that dang easy to achieve that. Too many people are jumping head first into industries with no experience or knowledge. There is nothing wrong doing your dual diligence and studying the industry. Here some things you should look into when researching:

  • Who are industry thought leaders
  • Cost to enter the market
  • Longevity of market in your specific demographic and location
  • Various business models
  • Who are the top earners and their story
  • Is this industry linked to anything negative in the last six months or year
  • Will you inquire debt running this business

Being well informed helps you know exactly what you’re getting into.

Lack of Plan

This is the next big one of the list. There is no research or plan. There is just a simple launch. No website or information for the future customer or client. There is nothing like having a 90-day plan or a yearly plan. They are what guides you. Every year, I write a plan of what I want to achieve and how can I achieve it. This helps truly guide me. Sit down and create a plan that guides you for 30 days, 90 days and year. The plan can be broken down into finances, social media, website and other areas of business.

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Not Investing

OMG, no one wants to spend money to grow their business, but they want millions to roll in overnight. Create a budget for marketing. Yes, social media is free, but you need a marketing plan that targets your demographic. For the last six months, I have stated local audience marketing is going to pay off huge. Invest the $2 a day on Facebook ads running utilizing your email marketing list. Then design at least 1000 first purchase cards and get out on Saturday and Sunday passing them out.

No Guidance

Before business consultants or strategist were on trend, the first thing I sought out was people who have had done what I wanted to do. So many people were extremely helpful in answer a million of my questions. The great thing about living in 2016 you can hire someone who will guide you. Stop trying to build your business on your own lost in the sauce. Hire someone like me who can break down the unseen. Right now you see glitter and rainbows that come with launching.

Wanting to Barter Everything

I understand money is tight, but its an insult to people who have worked super hard to get where they are. Bartering works out when two or more are just trying to get established. This helps each other get testimonials,ย insight, experience and more. When someone that is six months in reaching out to someone who is seven years in trying to barter it doesn’t work. People ask to trade with me all the time. I always state that I charge my rate for a reason and I have built up to this point. This is another reason I started Buy Coffee Tasha a low entryway to work with me. Save up for the things you need and understand bartering doesn’t work for every situation.

Not Social Media

Listen, Linda get you a Twitter, Facebook and Pinterest account and then automate your life out. My social media is completely automated and it takes less than an hour a week. People make social media harder than it is. It’s creating the time to post and engaged. If you have automated your social media, then it’s taking one hour a week to get it done. Yes, I teach in KSYE Social Media Automation how it only takes an hour a week. One of the best tips I can give you is where your customers are, and they are currently on social media!

Copying The Jones

What works for Suzy Q down the street will not work for you. Trust me; I thought I needed to be like so and so to win. No, you need to be exactly who you are and do you. That’s what I do daily, and my business is winning. I am not a household name, but I am be discussed in some people’s home. There are people buying my products and reading my blog. Be true to your voice each day. Nothing else.

This was a quick breakdown of mistakes most small business owners make without even knowing it. Take one item from this list and truly focus on it for 30-days to see the improvement that happens in your business.

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