5 common mistakes young businessman
«This year is very bad for business,» say? Even the oligarchs are afraid to buy state-owned assets, to say nothing of mere mortals who want to open their small, but good. However, where one finds problems, another finds opportunity. These opportunities people enjoy and grow in the commercial giants, which are many. Then these giants are going to retire and write their success stories, which we often cite as an example.
But to reach this, you have a long way to go, because, when starting a business, you’re hopelessly young and inexperienced, make mistakes, lose money and get into debt. Not only can save himself, but about some of the nuances we’d like to tell you.
So, avoid the five mistakes that are famous for young entrepreneurs.
1. Expectations of rapid success
Magic in business there, and only a few come in, plus the next day after opening. Funny stories from different media will tell you about some brilliant guy who drank a startup and earned a couple of months of $ 100 million. No one will tell you about the years of painstaking work, when you can barely keep your head above water.
So, when we talk about the beginning of his affair, we should not expect rapid success and not upset that the money didn’t come but do not go. Have realistic expectations, otherwise you’ll be disappointed.
2. Sale will go by themselves
This does not happen. And it does not matter how good your product or your service. If no one knows it, it doesn’t exist, and your business is dead. Know your target audience, know their faces, their habits, their psychological climate in the family. Know everything about what they think, and then you’ll understand how to sell your product.
Many entrepreneurs complain that they have no money on marketing, so they are mired in poverty. But the truth is that it is not always the right marketing budget for your organization marketing strategy. Quite simple to invest in work to understand the things that you can do by yourself. Information company and you can run with three rubles in his pocket. You just have to do it.
3. Bad care
There are many «little things» that in the future are very important things. Examples of poor due diligence – the darkness-here are just some of them:
– company name has already been registered;
– nondescript domain name, hard to remember by the customer;
– the lack of access the name of the company in social networks.
Such things better to do beforehand. Your first step as an entrepreneur is the creation of unique trademark, domain name registration and representative offices in social networks.
4. The lack of a long-term plan
Business «on the fly» is, of course, carbon monoxide and fun, but also very quickly. In fact it is entrepreneurial suicide. You squander your resources and funds. In the end, your ship is sinking. Of course, planning can’t prevent all the obstacles that you will meet on your way, but, at least, long-term planning will help to avoid unforgivable mistakes. For example, long-term marketing budget ensures that you will have funds to cover the marketing, and this will be enough for transportation and payroll. Imagine the situation in reverse. You spend money on a huge advertising campaign, but she, unfortunately, has not justified itself. There are no results, no money, and your employees hate you because you detained their salaries.
5. Life to the fullest
It is good when you have no obligations to the workers and their business. And many people mistakenly believe that businessmen around the clock and chase hanging out on their yachts. Maybe the billionaires can afford this, but not entrepreneurs.
In fact, the world’s entertainment businessman not so much. You have to take on the burden of responsibility and to take a rather complicated way of life. Every day you are faced with a problem that no one but you to solve can not. Every day you are faced with stress. So, before you go to their homes and begin to work for yourself, make sure that you will be able to come to terms with new rules of the game:
– lack of free time;
– the constant lack of sleep;
– little time for family and friends;
– a business priority in your life;
– Hobbies put off until retirement.
If you can handle it? Or get a nervous breakdown after a year of work?