Top 12 Big Mistakes in Online and Offline Business that you can avoid to make your business grow faster and more efficiently.
#1 Big Business Mistakes. Timing is Everything. Waiting too long to Start the Business.
Everything does not need to be perfect before you begin. The most secret word any entrepreneur will learn is the word “START”. Just create the plan and work the plan. Most people wait way to long before starting. They enjoy talking about their business idea or concept, but they never start it. Why? We’ll talk about this later. It is one of the biggest business mistakes ever.
Many people have great ideas, but they are working a regular job and family and do not have much time. It takes a strong and willful person to work a regular job, care for a family and also start a business. There are only 16 working hours in a day. It’s tough.
Many beginning wanna-be business owners fear failure and often talk themselves into placing their dream business ‘idea’ on the shelf.
The risk of starting a business and nobody purchases the product or service is a fearful thought to many beginning business owners. Negative thoughts often creates negative results. If you never start, then you’ll never know how your idea or concept could have changed the lives of thousands or millions of people.
#2 Big Business Mistakes. Not Enough Research to Make Sure the Problem to be Solved has a Large Enough Market.
Business is all about solving problems. If your product or service solves a problem, but not ENOUGH people care about spending money to solve that particular problem…then your market is probably too small to succeed.
This is mistake is nothing new. Businesses fail all the time because they try to solve a problem that nobody really cares about. Creating a more important problem solving product or service might be what you need to do. Investing money into trying to convince people to buy something they don’t care about is not wise. Find your market first, then create a product they want to buy.
#3 Big Business Mistakes. Not Respecting Potential Customers are Their Comments.
Listen to your customers. YOU MUST LISTEN TO YOUR CUSTOMERS.
Interviews or put out surveys. Ask your potential customers buying questions. If people are not buying, then discover why they didn’t buy. Most customers will tell you why they did not purchase from you. If you have too many refunds, then something is not right. Improve your product. Give your customers what they want!
#4 Big Business Mistakes. If Your Product is Not Unique, Then It May be Over-Looked.
Your customers have a huge variety of product options in most any market. If your business has competition, you have to give your potential customers a reason to choose your offering over another. It must be more unique, better price or better quality.
Businesses are not usually successful if your mission is to create a product or service less than your competitors. This is a BIG mistake and most businesses fail due to this idea of giving their customers less than they deserve.
#5 Big Business Mistakes. Creating a Product or Service When Your Heart is Not into It.
Most people fail when they start a business they are NOT passionate about. They go through the motions and it shows. It doesn’t take too long and they usually fail and lose their investment.
Competitors who care about their business will put those who do not care out of business very quickly.
This doesn’t mean your business has to be your #1 “passion” or life’s work (most of us don’t have one single passion in life), but don’t make things impossible by choosing something you don’t care about.
#6 Big Business Mistakes. Starting Your Business With Visions of Grand Doing.
Creating a workable plan is a good idea. However, do not set up your expectations so high that it is not realistic.
These are the hard truths that most people rarely talk about. Overnight successes rarely exist. Your original plan will probably have to be completely re-written, maybe multiple times in order to make your expectations more real.
It is important to find a mentor who has already done almost exactly what you’re doing or thinking of doing. An honest mentor will share with you all the pitfalls and more of what you should expect – this is why he or she is a mentor or a coach – because they guide you in the right direction.
A big mistake is not doing the homework necessary to make sure this business something that will be of value to you…..and will the income replace the income from your regular job.
#7 Big Business Mistakes. Stop Being a Loner.
No one can succeed in business by themselves. It usually takes a team of people. You will need other people to make it work. Your customers are people, your suppliers are people, your service providers are people.
Even if you create an online business. Starting a blog or website and selling affiliate products will require much time and other people.
The more connected you become with other entrepreneurs, the more fun and the faster your business will grow. Mastermind with other people.
Reach out to other entrepreneurs or a mentor. Share your struggles and goals, and review your progress each week. This simple process is extremely powerful.
#8 Big Business Mistakes. Confusing a Hobby with a Business.
A hobby usually will not make you a penny. If you want to earn an income from your efforts, then it is important to treat it like a business.
Keep track of all your expenses and any income generated. A big mistake is confusing a hobby with starting a business. Either you intend for it to be an income generating business or you’re not.