Hey, bestie! So, you’ve decided to take the leap and start your own business? First off, huge congrats! It’s an exciting (and slightly terrifying) journey, but you’ve got this. Before you dive headfirst into the world of entrepreneurship, let me share a little secret: mistakes are part of the process, and while you’ll probably have a few “oops” moments of your own, I’m here to help you dodge the big ones that can throw you off track.
So, grab a cup of tea (or your drink of choice), and let’s talk about the 10 most common mistakes new entrepreneurs make and how to avoid them.
1. Skipping Market Research
The Mistake: Diving in without checking if there’s a demand for your product or service.
How to Avoid It: Do your homework, girlie! It’s not enough to ask your friends and family if they want your potential product/idea/service. They’re biased, most of the time they will say yes even if it’s a bad idea. Take the time to understand your audience. Talk to potential customers, stalk your competitors (in a totally professional way, of course), and use free tools like Google Trends or social media polls to gather insights. Creating a customer avatar (a fun little profile of your dream customer) can help you get clear on who you’re serving and what they need. Trust me, knowing your market is a MUST!
2. Not Setting Clear Goals
The Mistake: Flying by the seat of your pants and “winging it”. Trust me, I did it and ended up feeling way more lost and overwhelmed later on.
How to Avoid It: Starting a business without clear goals is like going on a road trip with no map. You’ll get somewhere, but who knows if it’s where you wanted to be? Avoid this by writing down your goals using the SMART method:
S- Specific
Your goal should be clear and well-defined. Ambiguity leads to confusion, so focus on the “who, what, where, when, and why.”
Example: Instead of saying, “I want to grow my business,” specify, “I want to gain 100 new email subscribers in the next 3 months.”
M- Measurable
Make sure your goal includes a way to track progress. Numbers, milestones, or other measurable indicators are key here.
Example: “Gain 100 new email subscribers” is measurable because you can track the number of sign-ups.
Achievable
Your goal should push you but still be within reach. Consider your resources, time, and current situation when setting goals.
Example: If you’ve never marketed before, aiming for 10,000 subscribers in a month might not be achievable. Start smaller, like 100 subscribers in 3 months.
Relevant
Your goals need to align with your overall vision and priorities. Ask yourself, “Does this matter to my bigger picture?”
Example: If your main focus is building brand awareness, gaining email subscribers is relevant because it helps create a direct line of communication with your audience.
Time-bound
Set a deadline to create urgency and keep you accountable. Without a timeframe, it’s easy to procrastinate, we have to keep that fire lit under your butt!
Example: “Gain 100 new email subscribers in the next 3 months” is time-bound because it has a clear deadline.
Break your goals into bite-sized steps so they feel less overwhelming and track your progress regularly. You’ll be amazed at how much easier things feel when you know exactly where you’re headed!
3. Underestimating Startup Cost
The Mistake: Thinking you can DIY your way to success with zero budget.
How to Avoid It: It’s easy to think you can start a business on a shoestring budget, but those little expenses add up fast! Make a list of everything you’ll need; marketing, tools & supplies, shipping, fees, and subscriptions, you name it, and include some wiggle room for surprises. If your budget feels tight, start small with one product or service, then expand as you grow. And don’t forget to use budgeting tools to keep track of your spending because staying on top of your finances is so much easier than playing catch-up later. It will save you the double T: time & tears!
4. Ignoring Branding
The Mistake: Using Comic Sans on your logo and calling it a day. Who’s still using Comis Sans anyway?
How to Avoid It: Branding isn’t just about looking cute (although we’re all for that too!); it’s about creating a vibe that feels totally you. When people look at your brand, they need to know it’s you even if they can’t see your logo. Invest time in designing a cohesive look; your logo, colors, fonts, and overall aesthetic should tell your story at a glance. Canva can be a good tool for DIY branding, but if you have no idea what to do, I’d find a professional or someone on Fiverr to help you. A polished brand builds trust, and trust builds sales.
💡Pro Tip: Don’t forget about your brand voice! Click here to read our post Branding 101!
5. Trying to Be Everywhere at Once
The Mistake: Thinking you need to be on all the social platforms right away.
How to Avoid It: Newsflash! You don’t need to be on every social platform right out of the gate. Instead, focus on where your audience actually hangs out. For example, Instagram might be perfect for a visual brand, while LinkedIn is better for B2B services. Start with one or two platforms and post consistently. Quality over quantity is best. And if the thought of managing it all makes you want to cry, social media schedulers like Later or Metricool will be your new BFFs.
💡Pro Tip: If you want to be on other platforms later on but don’t have the time now, create an account for your business ASAP. You’ll want to claim that username before someone else does.
6. Not Building an Email List Early
The Mistake: Relying solely on social media to reach your customers. Without an email list, if social media disappears, so does your audience.
How to Avoid It: Relying solely on social media to reach your audience is like building a house on rented land. You need an email list, and you need it yesterday! Start collecting emails with a simple lead magnet, like a discount, free checklist or guide, and use platforms like Flodesk to make your emails look fab. Add a signup form to your website and put it in your social bios. Once you’ve got their email, stay consistent with valuable content. It’s the easiest way to stay connected and keep them coming back.
7. Pricing Too Low
The Mistake: Undervaluing your products or services to attract customers. Lower prices don’t mean more customers.
How to Avoid It: Bestie, you’ve got to know your worth! Undervaluing your products or services might get you customers, but it won’t pay the bills or make you feel great about your work. Start by calculating your costs (don’t forget your time!), researching competitors’ prices, and adding a profit margin that feels right. If you’re nervous about charging more, practice saying your prices out loud until you can do it with confidence. You’re worth it, and so is your business. If you’re a handmade business, try this equation:
(cost x 4)+10%= Retail Price
Look at me doing math 👀
8. Neglecting Self-Care
The Mistake: Burning out because you’re working 24/7. This is your gentle reminder that once you burnout, you’ll be taking more time off than if you just gave yourself a little break.
How to Avoid It: Let’s get real, if you’re running on empty, your business will feel it too. Schedule downtime into your week like it’s a meeting with your biggest client, and stick to it. Try using time-blocking or the Pomodoro technique to stay productive without burning out. And don’t forget to celebrate your wins, no matter how small! Sometimes, a little self-love is the best fuel for your work ethic. Schedule things like social media posts, emails, launches, etc. ahead of time. Take breaks often, and set boundaries with yourself and others. Your business cannot thrive if you’re running on empty, friend!
💡Bestie Tip: I know when I’m burning out because I can’t think properly & my content starts sucking. Once you’re burnt out, you’ll be taking more time off than if you just scheduled breaks!
9. Not Asking for Help
The Mistake: Thinking you have to do it all alone.
How to Avoid It: You are amazing, but you don’t have to do it all alone! Build a network of fellow entrepreneurs, join online communities, or find a mentor who’s been where you are. Delegating tasks you’re not great at (like graphic design or accounting) can free up your time to focus on what you do love. Remember, asking for help isn’t a weakness; it’s how successful people get stuff done!
10. Waiting for Perfection
The Mistake: Delaying your launch until everything is 100% flawless.
How to Avoid It: Spoiler alert: Perfect doesn’t exist and you’ll never feel 100% ready. If you’re waiting for everything to be flawless before launching, you’ll be waiting forever. Instead, set a launch date, stick to it, and remember that you can always tweak and improve as you go. Done is better than perfect, bestie, and the sooner you start, the sooner you’ll learn what works (and what doesn’t). So go for it, you’ve got this!
Mistakes are just part of the journey but now you’ve got the inside scoop on how to avoid the big ones. Remember, starting a business is all about learning, growing, and showing up, even when it’s messy and frustrating. You’ve got what it takes to make your dream happen, and I’m here cheering you on every step of the way!
xx
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