6 Mistakes New Entrepreneurs Make

6 Mistakes New Entrepreneurs Make

If starting two of my own businesses wasn’t lesson enough, I’ve helped over 60 people build (and profit) from their ideas. I’ve seen people hit the ground running, and I’ve seen others struggle for what feels like forever. Without over-simplifying the business-building process, I’ve created a guide that breaks down 6 mistakes new business owners make (that waste time, steal money, and make you wanna cry).

6 Mistakes New Business Owners Make

Because this is actually an 8-page downloadable guide on my website, I will just highlight 1 of the mistakes in greater detail here, and if you want the rest, feel free to download the full guide HERE.

Mistake Numero Dos: Underestimating the Time Between Starting and Profiting 

I’m going to tell you a little secret: If you are looking to buy a course or to work with a coach who promises “fast money,” or “6 figures in 6 weeks” (and other gross stuff), take note that they are either a LIAR or that their business has been built with about the same moral fiber as a sleazy Wall Street broker (not all brokers are sleazy … but you get what i’m saying).

With the internet age there are sooo many bloggers and people who appear successful parading around in their fancy suits (bought on credit), telling us that success should be quick and easy. Though I wish they were right, they usually aren’t.

Building a profitable business doing what your heart desires is no quick or easy feat. And one of the most detrimental things to new biz owners is that they bought into the belief that “it should be easy.”  This notion then leaves them feeling deflated and anxious when success seems neither quick nor easy.

When I first broke into the world of online marketing, I felt totally out of place. I WANTED to believe the stories of instant online success.  I WANTED to believe that if I bought “that program,” my bottom line would increase immediately. Each time I bought into this belief, I found myself more confused and bitter that it wasn’t working for me.

Here is what I have learned: every business has it’s own trajectory for success. This is dependent upon the biz model, the person running it, and the market they are in. I know you want to believe that “if you just work hard enough” success will come overnight … but don’t kid yourself. It will only lead to disappointment down the road. Success WILL come (totally), but it might not be at the pace you expected.

So how do you handle the disappointment?

Now that you’ve come to terms with the fact that you are human and that you don’t get to “control” time and space, you get to focus on how you can do what you love with GUSTO (while waiting for all your hard work to pay off).

It’s time to persist even when your first launch doesn’t sell a single slot; to re-strategize when you don’t meet your monthly goals; and to accept that sometimes you have to “do what you have to do” to make ends meet until your biz is thriving. This could look like getting a part-time job, staying at your current job longer, or biting the bullet to invest in the things that your biz will need to succeed (training, a website, a SOLID course, and a DEDICATED coach). You WILL be successful … (it just won’t be overnight).

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26 Responses to 6 Mistakes New Entrepreneurs Make

  1. Preach! I love that you are so realistic and just tell it how it is. This lifestyle is awesome once you make consistent money and get away from the fluff, but it isn’t easy.

    Your 6 mistakes hits the nail right on the head!

  2. 1000x times yes! Much like doing a home remodel, you need to assume that it will take at least double the amount of time you expect it to take and at least 20-40% more cost-wise. Overestimate and you’ll be prepared for almost anything 🙂

  3. Still learning not do do number 4. Niche down, niche down, and narrow in again. The more I focus, the more great feedback I get, and the more impact I can have!

  4. Man, I totally needed this post today. I have been greatly discouraged by my lack of that instant success that seems to be everywhere nowadays. Thanks for the reminder to keep pushing through!

    • Ohhh, instant success simply does not exist. There is always a back story that involves a lot of trail and error, learning, and adjusting 🙂

  5. Such a great post, and so important to put it out there… we get so blinded by the shiny 6 figure coaches it can feel like you’re an utter and complete failure if you don’t manage to earn more than you did at your day job within 6 weeks.

    I was totally bummed out with how long it’s taking me to get traction, and thought I must be doing everything wrong if I’m not earning 6 figures in my first year of solo business.

    But when I realized that THINGS TAKE TIME, DAMNIT I started feeling less pressure and I know that I won’t get super depressed if my first launch fails.

    Thanks for not being the same old shiny 6 figure coach 🙂

    • I know Nela! It’s this weird dirty underside of the online business community. On the one hand many are positive and everyone likes to share their successes…but when you are just starting out this can be overwhelming and it can make us be a little delusional in our thinking.

  6. “Success WILL come (totally), but it might not be at the pace you expected.” This is what I’m learning right now, and why I call my business a turtle—-it is agonizingly and painfully slow. But I’m getting there. Thanks for the truth!

    • Slow is NOT always a bad thing Beth. Slow can give you the time to build super solid foundations that won’t crumble at the first sign of strain 🙂 You are in exactly the right place.

  7. Oh my goodness, #3. It’s soooo hard not to compare yourself to what other, seemingly successful people are doing (even if they’re not as successful as they look) and just focus on what I can do. Love the graphic!

  8. Once again, brilliant blog post! And I love the infographic. A strategy plan is HUGE. Investing in a business coach is the best thing I did– you kept me from making lots of these costly mistakes!! XO

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