Avoid this Common Startup Mistake
of Small Business Owners
One of the most common startup mistakes of Entrepreneurs and Small Business Owners (SBOs) is creating something that really isn’t solving a problem or that’s needed in the marketplace. This approach doesn’t support YOUR Business Success.
Brilliant Breakthroughs Big Question:
Are you someone who has created a business that isn’t fulfilling a marketplace need?
If this is you, chances are you don’t have enough customers and sales to generate revenue. Sound familiar?
Another clue you’re making this common startup mistake: your passion overrides the business’s purpose.
WARNING: This is an entrepreneurial epidemic! With so many people getting the entrepreneurial bug, they just want to launch something to serve up to the masses and capture sales.
Many entrepreneurs, especially micro-businesses, are in business half-hearted and/or haphazardly. I know it’s hard to hear, but overall it is the unfortunate truth.
It’s not just me saying this either. Many global leaders confirm this. Recently I ran across a quote by Tim Fargo that prompted me to share this with you. Tim’s quote is accurate. I see it occurring all the time.
“By far the most common mistake startups make is to solve problems no one has.”
Too often an idea presents itself to a SBO. Swiftly, without any marketplace research the SBO is launching a new business. The odds of this scenario becoming successful is phenomenally unfavorable. Don’t let this happen to you!
Common Startup Mistake Action Item:
If you haven’t polled your customer base recently, or whomever you believe your ideal customer is, do it now! Quit guessing what they need. Go straight to them, ask them what they NEED, and then give them what they want!
What’s your biggest startup mistake? How did you recover from it? Feel free to share in the comments section to help other readers learn.
Mine mistake is simple – I didn’t have enough finances to invest properly when I began my business. Ultimately it stunned my earning potential in the first 10 years of business.
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p.s. We all have a startup mistake or two we wish we didn’t. One common startup mistake to avoid is not learning about effective networking. Click here to learn more about networking.
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