Been toying with the idea of starting your own business for awhile now?
You’ve probably realized that there’s no one-size-fits-all formula for success.
Your to-dos are going to vary a lot depending on your business.
But my experience has shown that the don’ts aren’t that much different, no matter the industry.
Experience is the best teacher and yes, time will teach you what do’s you need to keep on your list… but everyone has to start somewhere. While you and you alone have to put in all the work, there’s no need to learn everything the hard way!!
Keep reading to learn some of the major don’ts when launching your own business… or in other words, what I wish someone had told me back in the day when I was first starting out!
1. Don’t think it’s impossible to succeed.
Let’s face it – believing in yourself, especially when no one else does, is going to be one of the hardest things you’ll ever have to do.
The truth is, you’re going to doubt yourself, even on the good days – and doubt yourself even harder on the bad ones. But that doesn’t mean you give up.
What to do instead: Your mind can be a friend or a foe. You control it – not the other way around. Change your mindset and become your own biggest supporter!
2. Don’t sell the wrong product/service.
I’m sure you have a great idea – but is that the right idea for you and your passion-based business? Is that what your ideal client needs or wants? Is that the right way to package and sell it?
Nothing kills a business faster than selling the right product to the wrong people or even worse – the wrong product to the right people.
You want to make sure that what you have delivers all the right things to all the right people, or it’s not going to work.
What to do instead: Identify your ideal customer and create a product/service based on their needs – click here to read more tips on how to craft products and services that sell!
3. Don’t wait for the right time.
Don’t postpone starting your business just because it feels like now is not the right time. Want to hear a secret? It’s never going to feel like the right time!
Besides, you don’t have to completely abandon the life you have now to launch a business. Baby steps – slow progress is still progress. And that’s better than doing nothing, isn’t it?
What to do instead: Strategize long term, make a yearlong plan, and set monthly goals. Then make the time to work on your business – even if that’s only for an hour each day. You’ll thank yourself a year from now!
4. Don’t worry about making it perfect
Back in the day, I spent hours and hours obsessing about a single product until I was absolutely sure it was absolutely perfect… and you know what? If I look at that same product now – years later! – there are still some things I’d change. Yup!
The work you do as an entrepreneur is never going to look and feel finished to you – but that doesn’t mean it won’t serve your audience right now.
What to do instead: Don’t worry about making a product perfect, focus on getting it out in front of your audience. Then, based on the feedback you receive, you can tweak it or completely remove it later.
5. Don’t try to save money in the wrong places
Launching a business doesn’t exactly require a fortune nowadays (thank you, Internet!) but you’ll be surprised just how fast expenses pile up.
When that happens, you’ll try and minimize expenses as much as possible – which isn’t a bad thing by itself! – but it may backfire in more ways than one.
Don’t try to save money by doing everything yourself. It’s always cheaper to learn from other people’s mistakes than do them on their own.
What to do instead: Know your weaknesses – that’s where you need the money going. Think of it as an investment, not just as an expense. Let’s say, you’re killing with your writing but web design isn’t exactly your forte? Work with a web designer to save yourself a few headaches down the line, and so that you can focus on your genius.
Which major don’ts have kept you stuck?
And if your business is already established, which ones did you learn the hard way?
Share with me in the comments – I’d love to hear your story!