5 Mistakes to Avoid Making When Starting a Business

top tips Sep 07, 2021

Everybody makes mistakes. Mistakes are how we learn and how we better ourselves. In business, they can help us to review our processes and improve how we operate. When opening your own online shop, it can sometimes help to know what to expect when mistakes are made. So, we have compiled this list of common mistakes people make when starting a business.

 

  1. Adaptability

Businesses and business landscapes change all the time. Introduction of new social media platforms bring in new ways to sell and market your products, and competitors will change the market rapidly. Your challenge as a business owner, is to keep up! If you don’t, you’ll be left behind and fall into irrelevancy. Mindset also plays a key role in adaptability. You can learn all about keeping to a growth mindset in our past blog. Click here to read!

  1. Self-promotion

Promoting your business is key to succeeding! How are people supposed to know about your products and buy them if you don’t spread the word far and wide? For small businesses, the best place to start is family and friends. Make social media pages, with permission from your parent or guardian, and ask your friends and family to like, follow and share it.

  1. Setting goals

What does success look like for you? Having a plan for the future is essential when starting a business. If you don’t know what success looks like for you, you have nothing to aim for. Take some time to think about your goals with your business. Do you want to make 100 sales? Maybe there’s something you’re saving up for and you need to make a certain amount of money. Maybe you want your own shop! Whatever it is that you’re trying to do, make a plan to get there and stick to it! You can read more about planning on our previous blog. Click here!

  1. Getting bored

When you choose what you base your business around, you should try to make it something you won’t tire of easily. This way, when you’ve been doing it for a long time, it’s still fun and you’re not going to put off spending time on it. You should be able to be passionate about what you’re doing, or what’s the point in investing all your time on it?

  1. Ignoring feedback

Feedback can be daunting, especially when it’s about something you love, and though it may be difficult, listening to feedback is a fantastic skill to pick up and carry through life. It can be difficult to fully put yourself in the shoes of a customer. You may not be able to identify a mistake yourself, and so feedback is a very important tool for the evolution of a business. How will you know what people want if you don’t listen to them?

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