So, you know you are ready to start your own business. You might be very excited and ready to move quickly. But wait. Here are three mistakes you need to avoid when starting your business.
Error # 1 – focuses on logos, business cards, branding first. I often hear it, “I started my business, and I have to finish the logo and website!” I don’t tell you not to focus on your business “branding” at all – not now. We need to “test” our ideas first. If you spend hundreds, or thousands of dollars hiring someone to design a logo, business card, or even a website, you can lose money quickly.
What to do: find ways to quickly get clients. After you have money to enter your business, then see to “package” your business with branding.
Now, the best way to reach cash quickly is to avoid the next two mistakes:
Error # 2 – not clear in your market. This error can be a bit controversial. Often, there is this fear that if you market to the world segment, you lose a lot of business. Not really at all! When you are not clear in your market, it means weak marketing. It also puts you in a business bucket forced to compete at prices. You don’t stand out if you are the same as someone else.
Benefits become clear about whom your products and services are intended are stronger marketing messages. If you are looking for, for example to offer massage services to everyone, it puts you in a category with hundreds of thousands of massage therapists. However, if you provide your service to athletes, for example, your marketing becomes stronger because you can make your marketing for athletes. You can even go deeper – baseball players, or female basketball players.
The more clear your market, the better your chances are known as “going to” people / business in that market.
Instead of what to do: Spend time remembering who you can see yourself as “Ambassador” for. Who do you most want to help? Where are they live? What is the demographic? Are they married? Single? Divorced? Write this. Perform a journal. And most of all are committed to praying.
Error # 3 – does not offer a solution for painful problems. When people buy, and even more, when they pay a premium for something, it’s because they are looking for help with something they have to have. Sometimes, new entrepreneurs are trapped in the excitement out there, without focusing on whether the market must have what you have to offer.