Don’t Make The Same Mistakes That 99% Of Business Owners Make
If you’re starting a business, chances are, you’re going to make some mistakes. That’s completely normal, and actually a good thing. How will you ever learn what works if you’re not making mistakes to learn from? However, there are some pretty common mistakes that most small business owners make when starting out that could easily be avoided.
Don’t make the same mistakes that 99% of business owners make…read on to find out more:
Skipping Market Research
Market research is super important. Market research is talking to your audience, finding out what they want and what they don’t want, and then tailoring your service to suit. If you skip this part, you’re basically telling them what they want, rather than the other way around. Your audience is supposed to tell you what they want. Market research will help you to hone your product/service and make sure there’s actually a gap in the market for what you’re offering.
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Waiting Too Long To Hire
If you’re waiting too long to hire, you’re holding your business back. If you know you need somebody, or your business is obviously growing faster than you can handle, you need to get the wheels in motion to hire somebody. Hiring too soon can be a problem too, of course, but if you know you need to get somebody new on board, you shouldn’t put it off any longer.
Not Hiring The Right People
You shouldn’t be rushing when you hire. You need to make sure you’re creating a great company culture and that everybody can work together in harmony. You need to make sure that they bring something new to the table, and that you aren’t hiring people all like you. Taking the time to really outline what you want in an employee and then taking your time in the interview process will help with this.
Thinking You Don’t Need A Website
It doesn’t matter how small or local your business is. People naturally search for things online these days, so you need to show up when they do, even if it’s a simple brochure site. You don’t need to be selling anything online to have a website. A website is an absolute must for every business. Don’t wait to build one.
Under Pricing Your Product Or Service
Starting out, you might feel a little scared that people aren’t going to want to work with you. This can lead some businesses to underprice their product or service. Don’t make the same mistake. Know your worth and trust that people will work with you anyway, whether you’re selling elliptical water tanks or a service that is a little niche. Do competitor research and set a fair price. Don’t just aim to be the cheapest around.
Not Prioritizing Marketing
Marketing should be a priority to all businesses. Marketing your business gets you out there and the right people noticing your business. Working with a professional marketing company means you don’t have to try to teach yourself the ins and outs of marketing. Even if you did teach yourself, you’d be taking a lot of time away from what you set out to do in the first place.
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