Last Updated on February 9, 2020 by Jessica Adams

When launching your first successful business, you’re going to make plenty of huge mistakes. I’d say they’re inevitable because when someone does something as big and important as launching a business, things have a way of going awry. 

Even if you’re not just starting out, say you’re on your third biz venture (raises a hand!), these 7 fairly common but huge mistakes can (collectively) prevent your business from thriving. So take notes, as to ensure that you don’t make any of the following mistakes yourself.

 

7 Huge Mistakes That Will Hurt

Your Business Success

 

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Taking on Too Much 

It’s tempting, when you run your own business, to want to take on as much work as possible. You know you need to create content, drive traffic to your website and develop a marketing plan to make all of that happen.

Well, that’s great but what you need to consider is that you might be taking on too much work. Hopefully, your business is operating at 100% most of the time and the best way to ensure this is by knowing your own limitations.

Producing the best quality of work is the easiest way to make sure your business is at it’s best. With too many ongoing projects in the mix, this isn’t going to happen. Be wary of how much work you take on and make sure you aren’t stretching yourself too thin.

 

Not Having a Solid Marketing Strategy

Marketing is massively important because this is how you gain your audience, bring them to your content and showcase your skills.

People need to know about your products and services if they are to spend money on them and this is where marketing comes in.

You have to make sure you spend your marketing budget correctly if you are serious about bringing in new customers but so many business owners get this wrong.

When it comes to marketing, you need to know your audience and make sure you have multiple marketing methods to help your company grow and evolve.

 

Overspending / Not Budgeting 

One of the biggest problems in businesses of all sizes is spending too much money. Overspending, especially in areas that aren’t necessary, is one of the big reasons why so many businesses wind up failing.

You need to take charge of your business finances and do what you can to make sure you aren’t overspending. There are so many things to consider here and budgeting might help you find out where you can cut costs.

You need to be aware of what costs your company is going to face, and make sure you have the cash flow to cover it, as well as your own salary!

 

Lack of Social Media Presence 

Your online presence is absolutely crucial and you have to make sure it’s as strong as possible. You need your business to be active across social media, as well as having a strong and compelling website.

Almost ALL businesses, even brick & mortar, have some sort of online presence. Most business owners have a website and most of them also have at least a Facebook Business Page (you can check out mine here!).

Of course, I’m also a part of Facebook Groups for fellow Bloggers and Online Entrepreneurs. I’m not active anymore on Twitter (this was NOT the case 7 years ago when I got started with online businesses).

My Instagram presence has dwindled lately but it’s allowed my Pinterest activity to become more focused and consistent! As I’ve said before, you have to play to your strengths on social media and don’t have to be active on every platform.

 

Forcing Growth

Your company needs to grow, and this is important for helping you become a more successful and well-known brand.

But, you also need to make sure you aren’t forcing the issues with this kind of thing. Growth should happen organically, which is really important for helping your business become sustainable and successful.

By trying to force business growth, you risk the stability and future of moving forward in the best way. This is most likely to result in your business struggling and potentially folding in the (near) future.

 

Poor Customer Service

Customer service is arguably an important part of running a business. You have to make sure you do as much as possible to improve the way you deal with customers.

If people are treated poorly, especially if they have a complaint, they will most likely tell other people about their experience. And that experience has the potential to become a “story” in that person’s life.

You know, the one you always tell fellow business peeps at some event! Now, if they are treated well, that’s the story they’ll tell their business peeps at some event. Make sure you spend focused time and energy when helping a customer with any type of problem.

 

Not Keeping Up With Audience-Loved Trends

It’s important to make sure you keep up with the latest trends in our modern business world, as they’re likely affecting your audience and customers, which directly affects what they consume. 

For example, today’s home offices are more than ever, filled up with ergonomically correct furniture. Where it’s not as likely to see this trend in a corporate office, home offices everywhere are boasting more alternative furniture choices.

A standing desk (I have one!) will keep you on your feet all day, while your computer is on a custom table to balance your eye line and neck. You can use a balance ball stool which is literally a stool that gives you the effects of sitting on a big blown up balance ball.

This thing literally engages your core while you’re typing away and it’s helping with your posture too! Making sure to understand the modern world of business is to stay in touch with your audience. If you can anticipate what today’s audience will want from their businesses, you’ll have a leg up on content marketing and even more, product development!  

 

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Those were just some of the huge mistakes that business owners will undoubtedly make at one point or another. In fact, you’ve most likely made a few of these mistakes in your own small business?

One of the biggest reasons why so many startups fail in their first year is making one of these mistakes. Try to come up with ideas that you can write on post-its around your office, to help avoid these mistakes your business, become a success.

Have you ever made any of these mistakes? If not, what are some mistakes that you’ve made in your business? 

 

Jessica Rose Adams