Business Coaching

by Saul's Place

Top 5 Major Business Mistakes Entrepreneurs Make

Entrepreneur

Making mistakes is part of being an entrepreneur, and we all make them. It’s also a part of life. The problem, in life and in business, is when we keep making the same mistakes over and over again, or see other people make mistakes and then fall into the same traps ourselves. In other words, the key is to learn from the mistakes you see and the mistakes you make and use that knowledge to grow. This week, I want to focus on the top five business mistakes I see entrepreneurs make and how you can avoid them.

So many people ask me questions like, “How do I build my audience and get bigger?” or “How do I make sure my product applies to more people?” The truth is that those are the wrong questions to ask. As a small business, you’re not going to create the kind of audience and following you need by trying to appeal to everyone. Instead, you should be asking yourself questions like, “What kinds of problems can a very specific kind of person have, and how does my solution actually solve that problem? How can my product, how can my sales page better explain that it is the solution for them?”

Another mistake I notice a lot of entrepreneurs making, and one that’s come up a lot recently in our episodes with Paul Jarvis, Tim Schmoyer, and Chalene Johnson, is not simply growing for growth’s sake. When you’re starting to see that income tick up, it’s totally understandable to get excited. It’s when you start obsessing over getting bigger and bigger without having any idea of why you need to hit those new numbers that you run into problems. In speaking with these entrepreneurs, I’ve realized that I can always find ways to make more money. What I’ll never get back is the time I spend away from my family to focus on my business, so that’s what I try to minimize.