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Common mistakes to avoid as an entrepreneur

Entrepreneurship is a hot topic lately. Especially amongst millennials desiring a life and career on their own terms. We want a business, great profits, flexibility and a full passport. Sounds like a tall order but I was up to the challenge after facing burnout at the office. Escaping the cubicle became my main focus. So, in 2014 after blogging for a year, while still employed I embarked on an idea that I had shelved.

After working with an ICF accredited coach and gaining experience on how to monetize my expertise, my entrepreneurial path began. I created a logo, snagged my domain, posted a beautiful website and earned six figures.

…. if only that were true. Sadly I launched to crickets. The products were prelated,my story was clear, and the website worked but I missed the mark on everything else. After 8 months of boot strapping  I decided to take a step back and really pin point where I could improve (I’ll discuss my journey in another post).  For now I want to help you uncover where you’re going wrong with your business. However if you really want to escape the cubicle, cash register, call center, etc. it will take more than you’re great idea and beautiful website. There are a host of great business coaches and sites that speak candidly and post frequently on this exact topic. But take it firsthand from someone who struggled through it. I learned the hard way what successful entrepreneurship actually takes.

Here are the 6 mistakes you can avoid so that you won’t have to back peddle from your dream and launch to crickets.

#1  Having no social media strategy.

#2 Overthinking

This episode of MarieTV is my favorite because Marie  Forleo perfectly explains why waiting on anything will only lead you to a life of regret and shares great tips on how to get a jump start. The point is don’t spend so much time trying to get it perfect that you miss your opportunity for success. New brands are emerging daily. Don’t rush to finish but don’t slow walk it either. Find the pace that fits for your lifestyle and your goals will be achieved in the right time.

#3 Launching a product before its ready.

You must turn your great idea into value for a consumer. Your product is your value packaged for the customer to enhance their life. Money shouldn’t be the goal. Money won’t keep you in business, but your message will.

#4 Not scheduling everything.

Everything needs to be scheduled. Period. From breakfast, to blog post writing, to editing, marketing,  etc. Keeping a schedule will keep you on track. Delegating the right amount of time is crucial in leveraging your talents.

#5 Not hiring when needed.

Speaking of leveraging, you can’t do it all. Initially, you will be the one wearing many hats but over time start to outsource what you don’t do well so you can elevate your business in other areas.

#6 A blog is not a business.

Never forget that your blog will establish you as a knowledge expert but won’t always convert. Remember to utilize all of your strengths. Find a social media platform where your niche clients are active and use video, quotes, or powerful imagery to get consumers to engage.

This is my account of what went wrong for me and I hope it helps you steer clear and save time. Again, I am not a business coach and my business is still growing. However I recognize that doing something versus doing something right are two different things. Work mkght be painful  but launching a business will only exacerbate  the problems you already have. Find your message, define your value, and make a plan for the proper leap into entrepreneurship.

Now I want to hear from you. Have you embarked on entrepreneurship and felt the burn? Share the insights that led you to clarity in your business or if you decided on another path below. Your experience could help someone else on their journey.

Still trying decide on whether starting a business is right for you? Try this free worksheet with 21 questions to help you cultivate career clarity.

Have you stared a business recently or are already running a successful business? Share it insights below for other aspiring entrepreneurs.

 

 

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