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3 Big Mistakes New Business Owners Make

3 Big Mistakes New Business Owners Make

I’m sharing this message with you because I truly know its value. I have made these mistakes myself and I’ve realised it wasn’t just me! In fact, many of my coaching clients have experienced these challenges as well.

I don’t want you to make these mistakes, so here are a few big errors you must never do:

Immediately Jump On Social Media

I know it is so very exciting that you are just starting your new business but WAIT! Before you hit send to tell everyone about your business, make sure you do your research! Marketing on social media is completely different from marketing belly to belly. Without:

  • Identifying your target audience.
  • Doing your research to find out the best times to post.
  • And discovering where your target audience fits in the social media realm, you are wasting your time.

When you waste your valuable time thinking everyone should be as excited about your business as you are, you become frustrated. That frustration turns into discouragement, which translates into quitting all because you’ve developed an unreasonable expectation based on the falsities that lie within the social media realm.

To get the most out of social media, you must focus on creating a consistent plan. People begin to develop trust for you based on your consistency and consideration for their needs. Building relationships solely from social media takes time. Because they don’t know you personally, your only way to build a relationship with them is through being consistent and clear about what you offer.

Expecting Support From Family And Friends

Okay, don’t bite my head off here, but someone has to say it, because they won’t. Your friends and family are not your target audience. They love you but they will not be your marketing representatives or your primary customer base. They want you to succeed independently of them, not in partnership with them.

And while I’m on the topic, I’d like to mention that you must immediately stop taking unsolicited advice from family and friends who are not experts within the area you need help. If you need some advice on growing your brand or business, hire a professional, read a book or go online, but you must immediately stop accepting advice from people who are not specialist within your industry. The wrong advice applied early on in a business could ultimately ruin a great idea.

It’s okay to invite them to your success party, but do not create an expectation for them to help you succeed.

Freebies!

I had to learn this lesson the hard way. Many new business owners think they have to prove themselves by offering their product or service for free first. I’m here to tell you, nope! You don’t have to do it!

See, the problem with doing what you love sometimes is, it is so easy you feel guilty charging for it. Don’t! Because it is your gift and you know it’s valuable is all the more reason why you should charge for it. Now don’t get me wrong, I am in no way saying you shouldn’t do charity work. I am a strong believer in volunteerism and charity work; however, that work should be in excess – not primary.

Once you’ve done your research and you know what you offer is a quality work product, you must without question charge accordingly. You don’t go into a restaurant, order $100 worth of food and tell them if you like it you’ll come back and be a paying customer the next time….NO WAY!

So why would you allow someone to take advantage of you and your business? If people become offended by you charging them for your service or product, just remember – they are not trying to support you, they are trying to pimp you. Move on.

If your target audience is full people who can’t afford to pay you then my dear, you don’t have a business.

Ouch! I know these topics may sting a bit, but because I want you to succeed, I just had to tell you. I want you to win! Take from this only what will help you grow your business. See you at the top.


[This post by Mary V. Davids first appeared on LinkedIn and has been reproduced with permission.]

Author

Mary V. Davids is Principal Consultant at D&M Consulting Services, LLC, a consultancy specializing in employee engagement, leadership coaching,career development and personal branding.

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