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5 Mistakes You’re Sure To Make When Starting Your Business, And What You Can Learn From Them

Now, I have made my share of mistakes before, too many to count, actually, and I know that many of you probably have made the same mistakes as well; maybe even some of these ones that I’ll mention here, so now we’ll just get a chance here to discuss it. There are certain mistakes that are being made by entrepreneurs when starting their business, even some made by myself at one point, that needs to be discussed. So. I’ve compiled a list of 5 mistakes you’re sure to make if you’re starting out your own business.

Let’s start with number one, and that’s, “Being Fake,” or feeling that you have to put on a front, and this could be many things. It could be something as simple as when you’re referring your business, you say “We” instead of just yourself, because you want to make it seem like your business is bigger than it actually is. For example, let’s say a person is describing their business, and when they’re describing their business, they’ll say something like, “Oh! We’ve been in business for so-and-so years, “instead of saying, “I’ve been doing this business for so-and-so years.”

Now, there’s nothing wrong with having a one-person operation, there’s no reason to lie about something as insignificant as that. Many of the other people that visit your website are also one-person operations so, who exactly are you trying to impress? Another thing you want to do is be yourself, don’t try to be an actor and impress people. Don’t try to lie and say that you had success doing something when you actually never achieved success, and more importantly, don’t try to hide. I try to be as open and honest as possible with as many people as I possibly can. I use my real name. I don’t have an alias. That picture is a real picture of me and not a picture of some random person, and I’m running a real business here, because at the end of the day, people buy from people, not businesses. Being as transparent as possible about your business all your life to subscribers, customers or whoever, will only move along your success.

Now, let’s move on to number two, which is, “Not letting your personality show through to your readers, listeners or visitors.” This goes along with the first mistake because if you’re being yourself, then your personality should always show through. When I first started off my website, and first started writing articles for it, they were to the point and delivered the information, but my personality wasn’t present at all in it. It sounded too robotic, in a sense. It took me a while to realize that people actually like stories, and people will want to know about me and be able to experience my personality. Lately, I’ve been sharing more and more of my life, my personal life, with the readers because I want to try to make a connection with my readers. I want them to realize that I’m a real human being, just like them, and I have a family, and goals, and everything.

Now, I’m getting more comfortable sharing my life and my stories and displaying my personality in posts that I do, or podcasts, or videos, whatever. It’s something that separates me from the crowd, obviously, because no one else can have your own unique personality. Remember that, nobody can have your type of personality, and you should always let your personality show through. If you come across as being too serious, you can actually put some people off, but as long as you deliver great content, having a quirky, weird or unusual, or unique personality can only add to your business. That’s something to really keep in mind there. Just be yourself and let your personality show through.

Now, let’s move on to number three, which is, “Being too formal when trying to build relationships.” I’ll say it again, business is built on relationships, but you have to be genuine and treat it as a person-to-person connection, rather than a person-to-business. Now, let me explain, and the only example that I can actually think of with this is if you’re looking to establish a new business relationship. For example, when I started out looking for joint venture partners, I would contact various entrepreneurs or businesses in my field, and if I felt that it was a good fit, I would send them an email. My emails would usually begin with “Dear Mr. so-and-so”, or, “Dear Mrs. or Miss so-and-so”, and then I’ll give a very, very long explanation about myself and my business proposal.

I remember I didn’t even get one partnership from any of those emails, but I did get one response that actually helped me figure things out. The person responded that they “didn’t want to do a JV deal with me for many reasons”, but also said that they “didn’t feel that human-to-human connection” through the email. It was too formal. I was sounding like I was from some corporation or something. And actually, that’s somewhat true, because due to working in a corporate environment for so long, in my emails I usually would tend to have been very formal.

However, when I really looked at those emails that I saw other marketers sending to me, it was always very personal, a personal message that came from them. It was always like, “Hey, Andrew,” or “Dear Andrew,” or whatever, and that made me feel more connected to the person than if they were to say “Dear Mr. Warner.” It’s something that you really should consider. People want relationships with other people, not faceless corporations, and what I do now is I try to treat my business relationships, all of them, like friends, because I actually want to try to build friendships with them. You should, too, because, as a solo-preneur, formality is so boring. So, so boring. So, that’s something really key there to remember.

All right, we’re moving along here nicely and let’s get here to number four, which is, “Not going with your gut,” and this is going to be a very short but important mistake that entrepreneurs make. This is a critical part of the decision-making process in business. Since business deals depend on building and maintaining relationships, you need to get a good read on the other people that’s involved in any type of deal you consider. If you get a bad read on the person, hey, just walk away. If you get a good read, then you can just easily proceed with caution, of course. Many people choose not to go with their gut because they think logically about certain things that concern them, and decide to go through with it, instead of actually going with their gut, and that’s something you never, never, never want to go against. You always want to go with your gut.

OK, let’s move on to number five, which is, “Assuming that a contract will always be honored.” Now, there is no chance that this will happen. There are just untrustworthy people out there that will sign an agreement with you and then find some way to screw you over. I remember one time, when I was reselling items that I purchased at a yard sale to a flea market vendor, and I made the person sign a consignment contract, and I got their name and their address and their phone number and everything. I gave them the items that I wanted to sell on consignment and I left them there with the items there for about a week and a half, two weeks. Then, I went to follow up with the flea market two weeks later, and found out that that vendor was no longer there. So I called the phone number that was provided, and it was out of service. Then, I decided to go to the physical address that the person provided, and soon realized that the person just gave me an address to an industrial site and not their real address. I mean, that was my mistake. I mean, that’s a situation that I really learned a lot from; lost out on some product, but I was actually glad it happened, because it taught me a whole lot of things that I never actually knew before.

Because I was under the impression that since I had a contract with the person that it would be honored, but I was sadly mistaken, and you need to understand that a contract is just a piece of paper. Nothing more, nothing less. Contracts can be broken easily. However, choosing the right relationship can lessen the chances of the contract being broken. That’s something really key there to remember. So, I just want you to understand that if you sign an agreement with somebody, just understand that that agreement by itself has a good possibility that it will not be honored. If the person wants to screw you over, they’ll find some way to screw you over in one way or another. Try to do any type of deals or arrangements with people that you feel you have a good connection with. Basically, just try to go with your gut. If you have a gut feeling about a person that’s a good feeling, then go forward with it, and hopefully it’ll all be alright. If you feel it’s a bad fit, then obviously, turn the other way and try to find another partnership with somebody else; basically, that’s it.

Some of these mistakes are obvious and some of them are not very well know. However all of them are mistakes that can be avoided… especially since you now know what they are.

Branding Your Business, Will Make Your Business Profitable

When you start out in business the most important thing to do is get your name out there. You can do this in a couple of ways. One is advertising which can cost you money in which you may not have at the beginning of your business career. The other way is branding.

Branding your business especially at the beginning will get your name and product/services out there and you can do this without spending a lot, if any money. When you brand your business you will attract readers, customers and prospects. Customers and prospects in the business world usually pay for themselves but readers become a valuable part as they are the ones who share with others. Having people share your articles and your business with others is key to being successful in the industry. It becomes a chain reaction, read share, read share. If you want to be successful this will expand your business. So, how do you brand yourself? There are a few ways to do it.

One way is article writing which the readers will look at and become potential prospects/buyers. When you write articles you can get creative by inserting pictures into your articles to give it a little spice up that can attract new readers. You can also insert links and back links into your articles as a call to action. These will get you higher up on the search engines and gets your name out there for people to find you.

You can also use videos to brand your business. Videos are getting to be the most popular type of branding in the industry today. I’m not sure why but maybe people in general would rather watch something rather than read something. With today’s technology you can get very creative when making videos. You can add captions and things like showing your website on the screen while people are watching them. You Tube is a popular site to watch videos and they are huge with millions of viewers each and every day.

Social media is a great way to brand your business. Things like Facebook are so popular today that you can’t afford not to take advantage of it. When people read and like your posts they often share and like with their friends. The social media is exploding right now with several sites that are out there including Facebook, Google, Linked In, Twitter and many more. Absolutely brand your business using social media. Of course do not exclude the article writing and videos because collectively you will brand your business to levels that you are looking for in your business. It is best to use all of the resources when branding your business.

Why Spending Too Much Money In The Beginning Is Stupid If You Plan On Starting Your Business

OK, understandably, as a business person, you’re excited about starting a business, and I was, too, when I first started off, but there’s no need to spend recklessly when you have absolutely no money coming in.

I remember hearing a story one time about a guy that was leaving the corporate world that he’s known for around 20 years or so, to start a newsletter business. He had around $250,000 to work with and figured that that would be way more than enough to start his business.

So what did he do?

He went to lease office space, he bought office fixtures and equipment, he hired employees and was paying their salaries, and he hired a professional copywriter to write a sales copy for his newsletter, the whole nine yards this person went. The first three months of the newsletter came out, it was actually on time. It was really good content. Then, the fourth issue arrived a week late, the fifth issue arrived three weeks late, and then the sixth issue never was sent out. By the end of the sixth month, he was all but broke, and by the seventh month, he filed for bankruptcy for his company.

Now, an important lesson to learn there, that even if you have all the money, or even if you have a wide variety of money, or access to a lot of money, you still need to understand that you can’t spend recklessly. Spending too much on things that you don’t need to build up your business can obviously cause you to fail.

This guy figured that he could spend his money recklessly because he had a lot of money to play with, a lot more than a lot of people have when they’re starting off their business. So, a lesson learned there, don’t spend your start up cash on things that aren’t necessary. You don’t need to lease an office or hire employees. What you do need to do is worry about getting cash flow positive in your business.

So, spending too much time in the early stages of your business is something that you don’t want to do. I started my business with $50 or less and I’m doing very well right now. A lot of other people have started their businesses with less than $50 and are doing very, very well right now. It’s not the amount of money that you start off with, for the most part, it’s the decisions that you make in the early stages to help build your business.

If you do happen to have a lot of money to start off with, good stuff, but use that money wisely and, again, like I said and like I stress, don’t spend recklessly.