3 mistakes when starting a business that i made and that you should avoid
Posted: Tue Dec 10, 2024 5:35 am
I still remember the passion I felt when I decided I wanted to have my own business. I wanted to take on the world, take off like a rocket and do everything I hadn't been able to do up until then. Remembering those moments excites me, but it wasn't all euphoria and determination. I made many mistakes and paid a high price.
That's why I knew I had to share with you these 3 mistakes when starting a business , which are quite common and responsible for many startups failing in the early stages. I want you, through my experience, to be able to identify them and know how to avoid them.
3 Mistakes when starting a business that almost killed my business
1. I didn't have clear objectives
It stands to reason that if you don't know where you're going, you'll get lost along the way, right? Well, that's exactly what happened to me. I was determined to set out and do it no matter what. In my head, I was sure that what I was doing was the right thing. However, this passion without a strategy cost me dearly: not only in terms of money, but also in time and emotional wear and tear.
I didn't know what I wanted to achieve with my business, who I wanted to help, or how I wanted to do it. But that didn't stop me from investing in a website and some copy that supposedly represented my brand and conveyed my value proposition. The problem was that, by not having a clear vision of my business, my website and my copy didn't convey anything , neither to me nor to my audience.
I soon realized that I had wasted my money and effort and that I had to change my website and my copy to adapt them to my real objectives. This meant extra expense and a loss of time that I could have avoided if I had defined my objectives from the beginning.
2. Not knowing how to define my services well, or knowing how to sell them
Another of the mistakes I made when starting a business that I added to my list has to do with the way I was going to generate income. I wanted to have a business, but I didn't dedicate myself to defining my services well or having a clear strategy on how to sell them.
The problem was compounded by the fact that I am multi-passionate, meaning I am interested in many topics and develop many skills because I am curious about different disciplines. I could do female database design work, I wanted to be a mentor for expat mothers or a community manager. But, even though I decided on Pinterest marketing, I still had to define my services and when to charge for them.
This caused me many problems that affected my business and delayed monetization. In addition
I wasn't attracting my ideal client, but rather people who were looking for cheap, fast or unprofessional services.
I didn't know how to budget my services, how to negotiate with my clients, or how to charge for my work.
He worked without a contract, conditions of service or quality guarantees.
I also didn't have a tracking, feedback, delivery or after-sales system for my services.
As you can imagine, all of this caused me a lot of stress and dissatisfaction. Not only did I lose money, but it also cost me clients, as well as confidence in myself and my work.
3. I started without a defined methodology
Not having a defined methodology was another mistake I made when starting out. I ignored the importance of having a set of steps, techniques and tools that would allow me to develop my work efficiently, effectively and satisfactorily. I had not established the foundations of the business, therefore, I did not even have a well-defined ideal client, much less a methodology.
Without a defined methodology, I didn't know where to start or how to proceed with each project. I also had no criteria for making decisions or solving problems . I also had no control over the time, budget or quality of each project and therefore could not measure, analyse and improve the results of each project.
As expected, all this chaos and frustration made me lose motivation and enthusiasm for my work.
3 mistakes when starting a business that I made and that you should avoid
Tips to avoid these mistakes when starting a business
How did I solve it? I did it through trial and error and paying the price. Only through perseverance and determination did I not abandon my venture and now I know what actions to take to start a business with strategy. I have dedicated myself to solving each of these situations and now I teach other entrepreneurs the step-by-step instructions to avoid them.
If you want to avoid making the same mistakes when starting a business, pay attention and apply the following tips:
1.- Start with the bases.
It's true, it may be the least fun part of the business, but it will save you a lot of time, money and headaches. And what are those bases? SWOT study, competitor study, definition of the ideal client, branding design. You must also analyze and establish the vision, mission and values of your business.
That's why I knew I had to share with you these 3 mistakes when starting a business , which are quite common and responsible for many startups failing in the early stages. I want you, through my experience, to be able to identify them and know how to avoid them.
3 Mistakes when starting a business that almost killed my business
1. I didn't have clear objectives
It stands to reason that if you don't know where you're going, you'll get lost along the way, right? Well, that's exactly what happened to me. I was determined to set out and do it no matter what. In my head, I was sure that what I was doing was the right thing. However, this passion without a strategy cost me dearly: not only in terms of money, but also in time and emotional wear and tear.
I didn't know what I wanted to achieve with my business, who I wanted to help, or how I wanted to do it. But that didn't stop me from investing in a website and some copy that supposedly represented my brand and conveyed my value proposition. The problem was that, by not having a clear vision of my business, my website and my copy didn't convey anything , neither to me nor to my audience.
I soon realized that I had wasted my money and effort and that I had to change my website and my copy to adapt them to my real objectives. This meant extra expense and a loss of time that I could have avoided if I had defined my objectives from the beginning.
2. Not knowing how to define my services well, or knowing how to sell them
Another of the mistakes I made when starting a business that I added to my list has to do with the way I was going to generate income. I wanted to have a business, but I didn't dedicate myself to defining my services well or having a clear strategy on how to sell them.
The problem was compounded by the fact that I am multi-passionate, meaning I am interested in many topics and develop many skills because I am curious about different disciplines. I could do female database design work, I wanted to be a mentor for expat mothers or a community manager. But, even though I decided on Pinterest marketing, I still had to define my services and when to charge for them.
This caused me many problems that affected my business and delayed monetization. In addition
I wasn't attracting my ideal client, but rather people who were looking for cheap, fast or unprofessional services.
I didn't know how to budget my services, how to negotiate with my clients, or how to charge for my work.
He worked without a contract, conditions of service or quality guarantees.
I also didn't have a tracking, feedback, delivery or after-sales system for my services.
As you can imagine, all of this caused me a lot of stress and dissatisfaction. Not only did I lose money, but it also cost me clients, as well as confidence in myself and my work.
3. I started without a defined methodology
Not having a defined methodology was another mistake I made when starting out. I ignored the importance of having a set of steps, techniques and tools that would allow me to develop my work efficiently, effectively and satisfactorily. I had not established the foundations of the business, therefore, I did not even have a well-defined ideal client, much less a methodology.
Without a defined methodology, I didn't know where to start or how to proceed with each project. I also had no criteria for making decisions or solving problems . I also had no control over the time, budget or quality of each project and therefore could not measure, analyse and improve the results of each project.
As expected, all this chaos and frustration made me lose motivation and enthusiasm for my work.
3 mistakes when starting a business that I made and that you should avoid
Tips to avoid these mistakes when starting a business
How did I solve it? I did it through trial and error and paying the price. Only through perseverance and determination did I not abandon my venture and now I know what actions to take to start a business with strategy. I have dedicated myself to solving each of these situations and now I teach other entrepreneurs the step-by-step instructions to avoid them.
If you want to avoid making the same mistakes when starting a business, pay attention and apply the following tips:
1.- Start with the bases.
It's true, it may be the least fun part of the business, but it will save you a lot of time, money and headaches. And what are those bases? SWOT study, competitor study, definition of the ideal client, branding design. You must also analyze and establish the vision, mission and values of your business.