Starting a business is a major event and one that must be taken seriously. With all the moving parts, fluctuations in economy, changes in marketing, and the daily operations tasks, it’s a lot to get a handle on. Add to that the fact that every business has its own vision, mission, and culture, and it makes sense that there is no one absolute right way to start and run a business or any across-the-board way to guarantee success.
However, there are certain mistakes to avoid. Some seem so innocuous they are hardly classified as major mistakes. Here are three that fit into that category.
Trying to do it all
Different reasons cause business owners to attempt to wear all the hats. First, there is a certain pride that comes from being a do-it-yourselfer, and it’s something that many people tend to admire. And a second reason is that funds can be tight when first starting out. Sometimes it’s tight for years. The line of thinking is, I can save this money if I just do the job myself. And can one keep from actually writing a check and handing it over? Absolutely!
But have they saved money? Well now, that all depends.
It depends on if the job can be done correctly now, or if there’ll be extraordinary effort figuring it all out first (or, ironically, money spent later having someone come in to fix mistakes), because now lost time comes into play. Time that might be better utilized teaching a group fitness class or training a client.
Everything doesn’t have to be outsourced, but the business might run more efficiently if the owner doesn’t feel the need to do the taxes, paperwork, hiring, training, teaching, website design, group-fitness-room paining, or name-any-task all by herself.
Starting a Business Without a Plan. Sit quietly for a few seconds and, just that quickly, all sorts of ramifications can be imagined. It would be like waking up suddenly in the middle of a long road trip alone, with a quarter-tank and no map, or, these days, no GPS app. The quarter-tank might suffice for a while. It might not.
There’s not enough space to cover this point completely, but at the very least a plan should answer some key questions: Who is the target market? What funds are required for startup and maintenance? What is the marketing plan?
Besides serving as a roadmap to Destination Success, the plan will also help identify milestones…or if there is danger of missing some.
Keeping Everything a Big Secret. Waiting for the right time to reveal? Keeping the idea private? Understandable. Everything in its own time. But sometimes after the big reveal, business owners fall relatively silent again. The silence could come from a lack of confidence, a desire to stay humble, or from not understanding how to market.
Marketing and talking up a new business comes naturally to some. For others…not so much.
Each instance of choosing silence represents a missed opportunity not only for pulling in new business but also for gaining connections. Connections who have helpful advice or new ways of thinking. Connections who might be excited enough to help put the word out or give their own time to help. No matter whether silence stifles business growth or if the outcome is a missed opportunity for building a new relationship, the result is a loss.