Biggest Mistakes New Entrepreneurs Make

 

With a shifting economy, I’m seeing lots of people start their own businesses and side hustles, and let me tell you, I. LOVE. TO. SEE. IT. 

It seems like everyone is realizing how valuable it is to have alternative or multiple sources of income. A side hustle truly is the new job security! It’s so awesome to see people realize that spending $100,000 for an education where they work 40+ hours a week for the next 40 years is starting to give way to careers where you spend $150 to start and work 3 hours a day instead! 

Whether you’re adding to your family budget with some extra income to combat those crazy inflation prices or you’re ready to start a full-blown career, I want to help by sharing the biggest mistakes I see new entrepreneurs make! 

Mistake #1 

Being paralyzed by fear or “What will everyone think of me?” Starting a new business is scary and it’s common to worry about what your sister or that old high school friend are going to think about your new venture. But listen, if they’re not your target customer, you can’t let yourself care what they think. Remember why you’re doing this and don’t let fear get in the way. 

PS: Strangers will turn out to be your biggest supporters! 

Mistake #2 

Too much planning. Lack of planning can derail your new business but too much planning is even worse. Done is better than perfect. Sometimes you just have to start and then strategize later if something isn’t working. Don’t try to be perfect. If you wait until everything is perfect to launch, you’ll never get off the ground!  Dive in and practice, just as you would if you started a new sport. 

Mistake #3 

Trying to appeal to everyone.  Even if you know in your heart that your product or service can benefit everyone on the planet, if you try to talk to everyone, instead of a specific group of people you want to help, your message will never really resonate with anyone. 

Mistake #4 

Offering no value. Nothing will make people tune away faster (and put a really bad taste in their mouth!) more than “Buy my thing! Buy my thing!” Your customers expect value from you long before you ask for the sale. It’s not about you! In other words, stop talking about what your product does or its capabilities. Instead, listen to people’s needs and pain points. Listen closely, your prospects will always tell you what they want to buy. Spend time creating value around their pain points. Then when you do offer your product as a solution to their pain points, it makes for a really natural “yes!” 

Mistake #5 

DIYing all the things. When you’re first starting out, most people are on a shoestring budget. But make it a goal to be profitable enough to re-invest your sales into some outsourcing. Many new entrepreneurs have trouble grasping why you would want to spend the money you just made but outsourcing parts of your business like content creation or packaging allows you to accomplish more in your business and create more revenue than you would have otherwise! 

If you want to learn how to monetize your social media, I'd love to chat.  I've monetized reels on Facebook and am a Content Creator on Pinterest.   Email:  connect@aprilcarnahan.info

Learn more about my business, click here.

If you found any tips in this article helpful, pass it along to friends or share on social, use #CocktailDiet or tag me!  Thank you!

I'm your life line so reach out, even if you think it's silly. Please, ask me all your questions.
Contact me: text 402-204-8070 or email connect@aprilcarnahan.info

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