Entrepreneurs, avoid these mistakes when starting a business
I’m about to share with you the top 5 mistakes I’ve seen so many rookie entrepreneurs make over and over again. I’m hoping that by sharing this it will save you some time, money, and grief. Ready? Let’s go!
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5 mistakes rookie entrepreneurs make…
- Not having their finances straightened out. If you don’t have 6 months savings built up or any savings at all, you have no business starting a business. Invest in saving before anything else. Also, be sure to watch what you spend and not just say, “oh it’s a tax write off!” Remember, you have to make money in order to be able to write things off.
- Taking the first idea that sounds good & jumping into creating products. HOLD UP! You have to do your research. There’s no telling if you’ll be passionate about this spur of the moment decision down the road. To generate some quality ideas, ask yourself: Who is your audience? What are they struggling with? What do they want and can you provide it?
- Trying to sell products or services without having a finance structure in place. Before you start selling, you need to establish a method or system to collect that income. Things like opening the proper kind of bank account and establishing a method to process credit card payments.
- Jumping the gun & creating a website. It’s so important to know what you’re going to offer before “inviting” people over. A website is your digital home; it’s where you send everyone, Just like your real home (hopefully) you need to have a clean house ready to present to anyone who happens to stop by.
- Signing up for every social media platform & opting out of a website. First off, DON’T sign up every platform. Second, you’re trying to run a business…a business that you hope will pay your bills and then some. If you rely solely on someone else’s website (social media) then you are missing out on potential income. Not to mention, if something changes (which it usually does), you could lose all those “contacts.” Remember, likes and follows don’t pay the bills. Learn more about websites, landing pages & social media.
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Like you, I use to drag myself out of bed in the mornings and rush to make it to my 9 to 5 job, wishing I could be doing something different. Most days I use to day dream of all the projects I could be working on if I wasn’t at my 9 to 5 job. Then last November that dream became a reality and I am living in my purpose – doing exactly what I’m supposed to be doing and you can be too! Whether you are looking to be a part-time or full-time entrepreneur this course will help you figure out what you’re passionate about and will teach you how you can start making money from it. I’ve compiled everything I’ve learned and made it super digestible just for you (you can thank me later). Don’t let imposter syndrome hold you back! You have to put yourself out there in order to see what you can do & where you can go.