Starting a business can be both exciting and overwhelming. Inevitably, we all make mistakes but remembering these nine tips can help you avoid some of the pitfalls along the way.
- Blindly jumping into a business without doing the research to know if there will be a viable market for the product or service.
- Investing too little, and not making “good” investments, one that do have a high ROI
- Selling to people who really don’t want what you are selling. This is a common pitfall when people are told that their product/service is good for “anyone”.
- Being inauthentic in your business, and having to put on an “act”, just to generate income. Usually this survival mechanism will lead ultimately to becoming frustrated, exhausted and broke.
- Investing too much in your business without reaping any ROI.
- Thinking that you don’t need an Attorney. You have a friend, or you’ll “google it”, or find documents at a business supply store, all which will short-change you and potentially leave you vulnerable and unprotected.
- Spending too much time on “non-income producing activities”, i.e. filing, working on your website. “Income-producing activities” are having sales conversations with prospects, attending networking events and programs where you will meet prospective clients.
- Creating a “home-bound” business versus a “home-based” business.
- Toughing it and “going it alone”, rather than hiring an experienced Coach who can pull you forward and speed up your path to success and profit.