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Mohamed
Mohamed

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10 Common Mistakes Made When Starting a Business

Here you will find:

  • Not trusting yourself (or your idea)
  • Not analyzing the market
  • Start without having a defined goal
  • Have a short-term vision
  • Neglect planning
  • Not choosing good collaborators
  • Forgetting to establish an organized work routine
  • Ignore commercial areas
  • Not analyzing the results
  • Abandon your business at the first obstacle
  • conclusion
  • Related content

In order for you to be successful in your business and to be able to build a balanced career with great achievements, we have prepared this list entitled β€œmistakes when undertaking”.

In summary, the common mistakes of an entrepreneur are:

  • Not trusting yourself (or your idea)
  • Not analyzing the market
  • Start without having a defined goal
  • Have a short-term vision
  • neglect planning
  • Not choosing good collaborators
  • Forgetting to establish an organized work routine
  • Ignore commercial areas
  • Do not analyze the results
  • Abandon your business at the first obstacle

Let's look at each one in detail and find out how to avoid these mistakes when starting a business . πŸ“

1. Not trusting yourself (or your idea)

To achieve something, you must first believe that you are capable of achieving it, that you trust yourself and your abilities. As Henry Ford said: "Whether you think you can do it or not, you're right either way."

2. Not analyzing the market

How to succeed in something that is not known? Many entrepreneurs commit the sin of believing that they only have to make a significant investment to succeed in areas they don't know well.

Doing a previous market analysis is essential to start a company. If you study the characteristics of your segment, the competition and the response of the public to the product you sell, you will be able to collect very valuable information for the administration of your business and to understand what is the differential of your product .

3. Start without having a defined goal

This is one of the common mistakes of an entrepreneur : if you don't know exactly what you want, it is likely that the results will not be entirely satisfactory. We already said that it is important to define objectives and goals for your business, but it is worth reinforcing this topic.

It is important to establish a specific action plan so that your entire team is clear about how they are going to collaborate with the objective with their daily work.

4. Have a short-term vision

If you only work thinking about the immediate future and seeing profits as quickly as possible, you will surely feel some kind of frustration.

The idea is that you understand that undertaking requires patience , time and focus in the medium and long term. Do not forget to develop your goals with that vision.

5. Neglect planning

Once you have in mind everything you want to achieve and what you have to do to achieve it, it is essential to do all the planning that is necessary. We can divide it into two broad categories: financial and time.

The financial plan guarantees the stability and growth of your company, in addition to guiding the prices of your product. The plan over time is essential to make everything happen, since it will allow you to validate your work routine and generate the expected results.

6. Not choosing good collaborators

As an entrepreneur, you are largely responsible for the success of your company. However, that does not mean that you will be able to do everything on your own, without help. Finding the right people for your work team is crucial to achieving your business goals.

Do not rush when choosing employees for your business and always keep in mind the values ​​of your business. Nothing is more important than your vision and the quality of your product or service, not even a price below the market average or sympathy for someone who can't really contribute much to your project.

7. Forgetting to establish an organized work routine

It is useless to have established goals and planning if you do not have control over your own work routine. Disorganization not only diminishes the potential of your actions in the medium and long term, but also harms your performance as a professional.

To avoid any problems, make sure you have all your tasks in order, knowing exactly what needs to be done now , what can be left for later, what is not worth executing and what is going to be delegated .

8. Ignore commercial areas

During the initial phase of your business, it is normal to have to prioritize some sectors in relation to others. Certain components, such as the sellers and the e-commerce platform you use, for example, are essential to generate initial sales and win over your first customers.

Therefore, it is also important to dedicate time to other commercial areas, responsible for the loyalty of your public and for the growth of your company: digital marketing and customer service .

9. Not analyzing the results

Sometimes it's important to pause in the middle of the journey to reflect on whether your daily actions are taking you where you want to be, based on the goals and objectives you've set.

To know what effect your actions are generating, we advise you to pay attention to the metrics of your business . It can also be interesting to establish periods during the year to ask for feedback from your audience and analyze all the responses with your team.

10. Abandon your business at the first obstacle

Every new project requires a kind of trial and error : at each step, at each stage, you have to work on courage and confidence so as not to make a mistake the end of your great idea and project.

If something unforeseen arises or an error locks you up, remember that it is a common variable in all ventures and you can learn from that experience to improve results in the future.

Conclusion

It is necessary to keep in mind that, for an enterprise to be successful, it is necessary to invest time, knowledge and money . Therefore, to achieve the expected results, all issues related to the maintenance and development of your business must be addressed.

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