If you’re starting a business, I cannot stress enough the need for you to know what you’re doing and where you’re going.
For this, you’re going to need a plan.
But, no plan is complete without a strong understanding of what could potentially destroy your business if you’re not careful.
In this article, we’ll look at what these are, and how you can stop them from becoming an issue, so keep reading if you would like to find out more.
Let me tell you a quick story, a few years ago with one of my businesses, I made this mistake.
I wanted to turn my passion for doing art and painting florals and cute animals into a business. Did I do any research? Nope. Did this work out well for me? No, it did not.
I just created whatever came to mind, there wasn’t much cohesion or even a theme to tie my art (my products) together!
Since then, and a number of years later I’ve certainly learned my lesson. So let me help you to not make the same mistakes that I did.
To start a successful business, you need as much information as you can possibly get to ensure that you’re heading in the right direction.
You need to know what your business actually is, you need to know who your target audience is, you need to know what they like and respond to as well as so much more.
If you’re the type to skip the research, this isn’t going to work out well in your favor.
So, it’s super important that you’re learning as much as you can, as quickly as you can. You can then put all of your knowledge to good use, and use it to make the best possible business decisions.
Not having enough money is another common roadblock to starting a business.
You can have the best ideas in the world, but without the funds to cover essentials like supplies, staff, and equipment, it’s nearly impossible to get off the ground.
That might sound harsh, but it’s the reality – and rather than letting it discourage you, use it as motivation to plan ahead.
Most people don’t have the money for a business between their couch cushions, so if you don’t have savings to fall back on, it’s time to explore other options.
That might mean speaking to an investor, applying for a small business loan, or looking into grants.
I think the key is figuring out what works best for your situation and then going after it with confidence. The businesses that succeed aren’t necessarily the ones with the biggest budgets – they’re the ones that find smart ways to secure funding and use it wisely.
One of the fastest ways to frustrate customers and hurt your business is having staff who aren’t properly trained.
I’ve seen this happen a lot (I’m sure you have too) – business owners hire help because they’re overwhelmed, but then they don’t take the time to train them properly.
The result? Mistakes, inconsistent service, and a bad customer experience.
I think a lot of small business owners assume people will just “figure it out,” but the truth is, even the most skilled employees need clear guidance on how things should be done.
That’s why it’s worth looking into industry service training, along with more specific courses, to make sure your employees are properly prepared before they start working for you.
The more you invest in their skills upfront, the smoother things will run later. Once they’re on the job, keep an eye on how they’re doing – are they keeping up with the work, or do they seem to be struggling? If they need extra support, a conversation and a little additional training can go a long way.
Some people see training as a wasted investment, but I completely disagree. I believe that when you invest in your team, they’re far more likely to invest back into your business – through their effort, loyalty, and the way they represent your brand.
One of the biggest mistakes new entrepreneurs make is jumping into business without a clear plan for how they’ll actually make money.
Passion and excitement are great (and honestly, necessary!), but that alone won’t make your business successful.
I think a lot of people assume things will just fall into place, but without a clear business model – one that defines how you’ll attract customers, deliver value, and make a profit – it’s easy to run into problems.
I’ve seen new businesses struggle because they have inconsistent income, pricing that doesn’t actually cover their costs, or vague offers that leave potential customers confused.
That’s why it’s so important to map out your revenue streams, price your products or services realistically, and make sure your business can sustain itself long-term. Plus it also makes decision-making so much easier because you have a framework to guide you as you grow.
Branding is often one of the most overlooked parts of starting a business – but I think it’s also one of the most important.
A lot of new business owners focus on their product or service (which makes sense!), but they forget that how they present it matters just as much. Branding isn’t just about having a nice logo or picking pretty colors – it’s about shaping how people see and remember your business.
If your message isn’t clear, or if you don’t stand out from the competition, potential customers will just move on.
Having a strong brand builds trust, recognition, and an emotional connection with your audience, which is crucial if you want to grow.
Positioning is just as important – if you don’t define your niche and clearly communicate what makes you different, you’ll just blend into the background.
In my experience, even a simple but well-thought-out brand strategy can make all the difference in attracting the right customers and building credibility from day one.
Learn more about any branding mistakes you might be making in my post: Branding Blind Spots That You Might Be Overlooking
I’ve seen far too many small business owners put all their energy into creating a great product or service – only to struggle because no one knows they exist.
The truth is, no matter how amazing your offer is, if you’re not actively marketing it, people won’t just magically find you.
I think a lot of new entrepreneurs hold back on marketing because they feel overwhelmed or assume they need a huge budget, but that’s not the case. Even simple, consistent efforts -like showing up on social media, engaging with potential customers, or optimizing your website for search engines – can make a huge difference.
Here’s a summary or the key lessons to learn and mistakes to avoid as a new business owner:
I hope that you have found this article helpful, and now see what some of the different things are that could destroy your business before you really get started.
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