I think starting a company is one of the most courageous things someone can do. Therefore, I don’t want you to be the victim of major small business mistakes. After 30 years of entrepreneurship, I’m sharing my knowledge so you can avoid the traps and grow your business…
3 Biggest (And Most Common) Small Business Mistakes
First of all, these missteps happen because of how tempting they are.
THESE SMALL BUSINESS MISTAKES ARE SO TRICKY, I’VE MADE THEM SEVERAL TIMES OVER!
Because of that, my purpose here is to not only inform you what they are but also remove the desire to make them.
I promise they are not worth it. Further, I know you are stronger than that since you are reading this article.
All that out of the way, let’s make your business bulletproof.
Pricing Products Incorrectly
One of the number one mistakes new, small businesses make is selling their products for an incorrect cost. And believe it or not, they’re not setting the price too high — it’s generally too low!
Revenue must be the number one priority for a company in its early days. Don’t put yourself at a disadvantage because you want to, “get your name out there.”
There are much more effective and profitable ways to do so…
Failing to Market Enough
The second oversight is made so often, you could almost consider it inevitable…
NOT MARKETING ENOUGH OR, WORSE, NOT MARKETING AT ALL.
I know that the investment of time and resources into this is difficult at first. However, promoting your products and services is the only way to get more customers and grow your bottom line.
As such, not marketing your small business is one of the biggest mistakes. Moreover, it call kill your enterprise altogether.
But, how can you do all of these things on your own? Well, you can’t.
Running the Show Alone for Too Long…
The last issue we’ll discuss is being a solo entrepreneur longer than necessary.
In the beginning, it makes sense that you are doing everything. You have to make sure the operating procedures are firmly established.
That being said, you have to grow beyond solopreneur at somepoint otherwise you will crash and burn alongside the business.
So, invest in or contract help once the demand is there. Not doing so won’t save you money, it will stunt your growth…
Why All These Small Business Mistakes Are Alike
Something I want to emphasize is that all of these small business mistakes come from the same place…
A SCARCITY MINDSET.
As I mentioned before, starting a new venture is not for the faint of heart. It is natural you want to be conservative.
Nonetheless, that approach never results in financial freedom.
So, where do you get the guts to take risks and go all in? Having knowledge and tools that provide certainty you can create more income.
To that end, I am doing the 10X Sales System Interactive where I discuss that topic in-depth for two days. It is completely virtual, so you don’t even have to leave your hometown and business.
Go here to secure your spot.
Be certain with your business strategies and you’ll inevitably become great.
— Grant Cardone
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