Top 7 Mistakes Startup Entrepreneurs Should Avoid
Maybe you have just got that big idea, and you have started considering to quit your day job and go full time to pursue and actualize that dream and beautiful idea of yours.*
I have been there before and I must inform you that it is not easy. Other entrepreneurs have done it before you and this report has been collected through various experiences to help you avoid mistakes and help you achieve your dreams faster.*
Mistake No. 1: No Survey of Potential Clients, Market and Environment
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For you to start a new business you must really have an understanding of who your ideal client is. Your business will be a big mistake if you do not solve an actual problem and an urgent problem that your ideal clients have. *
Lunch a survey and try to talk to potential clients and learn more about their frustrations about the particular kind of business you intend going into. If it’s an entirely new idea, try to find out how they will love to experience such services. Surveying is great, talking to them is even better.*
Put your survey results in a spreadsheet in try to analyze them and look out for common responses. Don't just go creating your own thing that you think will be sold out by the end of the week.*
If your idea involves one that will have a physical location, study the environment where you intend to locate the office or shop. How will your customers locate you? How will your business survive in that environment? These are some of the questions you should ask yourself before choosing a location for your business.*
Mistake No. 2: No Detailed Plan
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You need to realize that the idea alone is not going to make you reach. Making that idea a success requires a detail action oriented plan that you should strictly follow. You have to have a solid action steps and a business model that is actually going to work.*
Having a plan helps you to know where you should be spending your time and you know what your future customers want. Many start up entrepreneurs write up plans too, but end up dumping the plan and acting as their minds lead them.*
Every step you take and make in your business should be according to plan. A plan on how you execute the business, how you receive and attend to clients, a financial spending plan and so on.*
Plan for the month, Plan for the week, plan for the day, and set achievable goals with those plans.*
Mistake No. 3: Making Things Perfect Before Launching
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Don't wait too long to launch!. You need more than enough time for action instead of thinking and waiting.*
You must not wait until everything you need is complete and ready, start small, start from where you are, put yourself out there, create an awareness as you prepare yourself to service your incoming clients. *
I know someone who sold a course he hadn't created yet. He didn’t wait and think about it. He put the course out there and someone bought it, and then he had to create it.*
Just start from where you are so far as you have a workable plan, go ahead to test, sell and create as you go.*
Mistake No. 4: Trying to Do Everything Yourself.
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You need to leverage your time, most especially when you are still employed at your day job. Get people to work with you to assist you. Sometimes you don't need to pay huge sum of money for this to be done. *
You can start with taking baby steps, pick one thing you don’t like doing or you know would take you so long to do and ask for help. Build a team and bring them onboard, assign tasks and work together to achieve your goal. You can also use virtual assistants or freelancers to achieve this.*
Do not do it alone, have a partner, or a coach to help you. A community of support is truly what you need so you are never alone in this.*
Mistake No. 5: Spending Way Too Much Money First
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Keep your startup costs simple and based on necessity. Avoid fanciful spending, start with a small budget, start hustling, find those clients and then put more int your business. Invest more money into aspects of the business that are capable to generate revenue.*
Invest in yourself and building your knowledge and a few minor things to get your business model up and running and then, go! *
Plan your spending and make sure it is worth every penny.*
Mistake No. 6: Not Being Unique
What makes you different from the others? Not being different from others out there and copying others could cost your business. You have to avoid the distraction and determine your own voice.*
Project your uniqueness because only you have your purpose. You have your dream and that is for you and not what someone else is doing.*
You have a different background and are a completely different person and there are more than 7 billion people in the world.*
Mistake No. 7: Lack of Vision and Passion for your Business
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You have to have a passion for that business and idea you have, without this your vision for the business will not be clear, and in the end you just want to do the business just to make money.*
It is 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.*
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