Common new business mistakes

Not making a commitment

Drive, dedication and a serious sense of commitment. Business owners need to be willing to make sacrifices, put in the time necessary, and face challenges head-on if they want their businesses to be successful.

skipping the planning phase

Plans to consider include a business plan, a financial plan, and a marketing plan.

Not setting SMART goals

Making sure your goals are SMART goals, you can identify where you want to go and outline specific steps that you will take to get there.

Being afraid of marketing

The mistake is assuming you don't need to market, and that business will come to you.

Unrealistic assumptions of market size and target customers

If you want anyone to take you seriously, then you need to have a realistic understanding of both your target customer and the real size of market. 

Underspending & Overspending

Starting a business doesn't have to require a large investment, but some new business owners feel that they need to spend a lot to purchase the best of the best everything from marketing help, to equipment, to software.  While there are certainly ways to start and grow a business with limited funds, going too far and not investing any kind of capital in your business can severely limit your potential for success

Do it all alone

Being a jack of all trades, effective delegation can be one of the best ways for new small business owners to build their businesses, free up their time for business activities that require their unique expertise, and build a team positioned for future success.