As a business owner, I find it just as instructive to learn from other entrepreneurs’ mistakes as I do learning from tips and tricks. To that end, I wanted to put together a roundup of posts dealing with exactly that: mistakes others have made that can help you avoid them and succeed with your business. Let’s dive in.
What NOT to Do When Starting a Business
Let’s start our giant list with the common mistakes people make when first starting a business. My post over on CorpNet.com illustrates how being unprepared, trying to take everything on yourself, and not working to grow can have serious implications for your new company.
If you’re a freelancer, you can pigeonhole yourself simply by trying to take on any and every project that comes along. I learned this lesson the hard way before finding my niche.
How to Suck at Marketing
One of the biggest mistakes entrepreneurs make is not marketing their business. But there are plenty of other errors you can avoid. For SEO, there are plenty of ways to screw up your rankings in search results. Don’t do them.
And if you’re selling products online, there are plenty of pitfalls that can keep your sales conversion low. Unless you don’t like making money, avoid them like the plague.
If you’re DIYing your public relations efforts and decide to pitch journalists, trust me: many have gone before you and failed. It takes months to build the relationship, customize your pitch, and then get a journalist’s attention. And if your press releases are falling flat, you may be making some of these mistakes.
Don’t Trip Up with Your Business Operations
Having enough money to start a business is essential if your company is going to make it, and yet that, along with these other three financial trip-ups, cause so many entrepreneurs to fail. Another financial mistake is not paying yourself first. You’re just as important as your vendors, so don’t make that mistake.
If you need to hire people, do it the right way, and avoid these hiring mistakes. Having the right people on board can make or break your business, so get it right the first time.
If we’re smart, we’ll avoid these mistakes. But when we do goof up, the best thing we can do is to learn from our errors and move forward.