Starting a small business is difficult, you may be juggling a 9-5, taking care of family, and more, all while trying to grow your small business from the ground up.
We all have limited time, so I’ve created a quick list to share with you on common mistakes made by small business owners. I hope you find this list helpful, so that you can avoid these common mistakes or fix them as soon as possible.
1. Write Down Your Why
Starting a business is hard, there will be times you’ll wonder why you wanted to do this and will want to give up. That’s why you need to write down your “why”. So, when you’re having a bad day, doubting yourself, or wondering why you even started your business, you can look at your “why” as a reminder of why you’re doing what you’re doing!
Remember it’s a slow process, everyone started at the beginning, even the businesses you follow and admire. As your business grows and you put processes in place, if something isn’t working, change it, learn from it, and grow. Never give up, even on the hard days!
2. Waiting Until You’re Ready
You might be waiting to take the big leap, when you have a little more money or a little more time in your schedule. Don’t worry you’re not alone! Everyone starting a new business has these thoughts and worries. Making excuses to wait just a little longer until something else is in place.
But there is never a good time, you’ll never be fully ready to take the leap into starting your own business. There will always be something holding you back from getting started. You can read articles on what you should do and pre-plan strategies for your business but until you actually get your hands dirty you will always be waiting until you are ready. So, as long as you have a plan in place, money, and time to get started, you’re already on the right track!
3. Show the World You’re in Business for Real
There was a time when having a website wasn’t a necessity. But, today having a website and optimized social profiles is an absolute must.
Make sure your website and the things you are sharing with the world look professional! Don’t print out homemade business cards or brochures, send out invoices without your logo, or emails without a signature block. There are many cost-effective options to help you do this! Canva is a great FREE tool for creating marketing materials for your business.
4. Looking for People in All the Wrong Places
Maybe you’ve tried cold calling and emailing only to hear crickets or attended networking events only to leave without making any real connections. Let’s face it, no one really enjoys getting approached by a stranger with a sales pitch. Right?
Don’t get discouraged! A great place to look for people is by starting with the people that know you! People who already know you are your best referral source.
Here are some easy ways to stay in touch with the people that you know. First, gather all of your contacts in one place, if you’re missing an email address reach out and ask for it! If you haven’t already, take this opportunity to announce your new business!
You can send email newsletters, check-in emails, handwritten notes, and invite them to follow your business on social media, all on a regular basis. Get started by tracking who, when, and how you reach out to them. Stay top of mind, when they need something, you are providing, or know someone who does, they can refer you!
5. Get Organized
Thinking back to number 4 above, do you have your contacts in one convenient location? Or are they stored in your phone, some in email, some on business cards filed in drawers, or piles on your desk?
Taking some time to organize your business will actually save you time in the long run. No more will you waste time searching through piles of loose notes. You will be heading in the right direction, by implementing just a few of the ideas found in my post – 9 Ways to Get Your Business Organized Right Now.
6. Ignoring Your Financials
Without checks and balances to your financial record you can’t create a budget. Create a system to ensure that you are checking your financials on a regular basis, reviewing subscriptions before they auto-renew to make sure that they are still pertinent. Keeping a pulse on your finances will allow you to invest in your business.
Many individuals, small business owners included, don’t review their financials on a routine basis. They have no idea what their monthly expenses are, or they don’t keep tabs on their auto-renew monthly subscriptions. Do you know how much revenue you need to cover your monthly expenses?
7. Technology For Small Businesses
From project management software like Asana, to email marketing software like MailChimp, there are dozens of inexpensive and sometimes even free versions available to make your life easier. Always use the free version until you outgrow the plan or until you know you like the software.
If you do need to pay for a software, make sure it saves you time and energy. Is it essential to your business? For example, data backup or tedious like password management? If you’re struggling with a task, there is a very good chance that someone has already created a solution.
8. Learn How to Delegate
Delegation is a powerful way to leverage your time and get help with areas of your business where you might not have expertise. Done well, it can be a big win for you and your business.
Not sure how to delegate? Are you worried that no one would understand your work, take it as seriously as you do, and do a really great job? Check out my post – You Can’t Do It All! How to Delegate Effectively.
9. Learn from Others
It can be difficult to get started, I’m referring back to #2 from above, when you constantly compare yourself to others in your industry who are successful. It’s hard to focus and move forward on anything if you are chasing every shiny object or new idea that you come across.
So, look at what they are doing and use what is helpful for inspiration (never copy) for your website, emails, social, etc.
10. Be You
As a small business, it can be difficult to stand out in the crowd. What do you have to offer that is special and will bring people to your business? Remember, you are unique, your story is unique, and while you may offer the same services and products as others, people will relate to you and your story.
11. Never Stop Learning
Set goals for yourself to learn all you can about running a business, best practices, helpful software and tools. People love someone who is passionate about their business. Get excited about your business and don’t be afraid to share your excitement with others!
We know that starting a business is hard work. I hope that these solutions will help you get on the right foot. Knock them out one by one and you will be on the road to success!