Running a small business is a serious undertaking. Of course, that’s not to say that it isn’t hugely exciting and rewarding because it is, but that doesn’t mean you should ignore just how much work you’ll need to put in. This is especially true for a startup where you a) don’t have that much experience in the business world, and b) are usually working with a pretty small team, perhaps even on your own. This means that it’s pretty easy for mistakes to slip through the cracks. Mistakes that get made in the early stages of a business’s life can have some serious and long-reaching consequences in the future. Fortunately, a lot of them are relatively common and, once you know what they are, they’re pretty easy to avoid. With that in mind here are some of the most common startup mistakes and how you can make sure that you don’t make them.
Overdoing your marketing
Now, this is not to say that marketing isn’t a massively important part of any business because of course, it is. The issue that a lot of startups run into however is that they assume that by throwing out at much marketing as possible then they’re definitely going to bring in the maximum number of customer. This is not only incorrect but ends up being a serious waste of time, energy, and money. Instead, what you should do is to make sure that you’re marketing precisely and effectively. The only way to make sure that you’re doing this is to do your research. Figure out who your target customer and what the most effective marketing methods are to connect with them.
Neglecting your IT
This one is especially true for smaller startups who assume that a well-managed IT infrastructure isn’t something that their business really needs. In the age of DIY online businesses, it’s easy to assume that you don’t need any support to get by but that’s simply not true. Without well-managed IT solutions, you’re going to end up hitting roadblock after roadblock. Ironically if your IT isn’t up to scratch, then the issues will only get more pronounced as the business grows and the strain on your infrastructure increases. By setting up your IT services early on, you avoid any delays or problems further down the road.
Getting too ambitious
It’s important to look to the future, and it’s just as important to think about growing your business, but that doesn’t mean you should let your reach exceed your grasp. Far too many startups end up getting into trouble because they try to grow too fast in a way that ends up being unsustainable. They simply can’t handle the increased expectations and responsibility that comes with running a larger business. Instead, make sure that you’re always working at a level that your business can actually sustain, otherwise you could end up in some serious trouble.
It’s surprisingly common for a lot of people to pass over smaller businesses in favor of better-established ones simply because they assume that it’s going to be a safer bet. People tend to see bigger businesses as more reliable and imagine that they would offer higher quality work. It’s your job to try and prove those expectations wrong. As well as improving your web design and overall branding, there are plenty of things that you can do in order to make your business seem bigger and more well established. A virtual office and answering service like VHQ answering services, complete with well-trained receptionists, can make even the smallest home business look well established and professional. It might seem odd to need to do something like this but customer perception is an essential part of business success.
One of the most common mistakes that a lot of people make is that they assume that it’s going to be easy if their business is small. After all, there’s certainly something to be said for how much easier it is to run a smaller business than a larger corporation. However, it’s also important to remember that your business often grows alongside you which means that you’re going to be far more capable as your business expands. In the early days, your business might be small, but you may be inexperienced and unable to fully handle all of the challenges that come with running any kind of business. Understanding this and being able to adjust the way that you do things in order to really make the most of your business is an essential step that you simply cannot ignore.
If you like what you’ve read here, please let others know of this post, blog, and site.
And thanks for reading! 🙂