By: Devon Holley
September 1, 2021
Whats becoming a popular trend now is Business ownership. Facebook, Youtube, and Instagram is consistently running ads to encourage people to dive right in. Which can be good and bad depending on your situation, personality, and drive towards success. So, before you take that deep plunge into being an entrepreneur, lets discuss a few pitfalls to improve your success rate.
1. Problem: Not knowing your business. Many people start businesses without doing any market analysis and research. They often start with an idea of developing something from their personal beliefs, which is wrong considering your customers dictates the growth of your business. Also consider, personal beliefs is also connected to your emotions.
Solution: Take a minimum of six months to learn what your actually offering your customers. Make sure you understand what direction your moving towards in the future base on the companies goals.
2. Problem: Focusing on sales over value. Although sales is amazing to see everyday in any business, long term customers will continue to buy things they value. Sales is a outfit you like one year. Value becomes the brand you continue to purchase no matter the decade.
Solution: Learn to become a trusted brand that customers can rely on overtime. Hundreds of shoe manufacturers produce shoes, but Nike brings value to your feet base on longevity and endurance.
3. Problem: Being afraid to invest in yourself first. Before starting any business the first investment should be towards your mental health. Without being in the right mental space, your process as a business owner could sabotage your future.
Solution: Develop a system that works for you during good and bad times in life. While also, putting yourself in a position to connect with other business owners who face similar issues.
These three are only a starting spot for what your going to experience. Everything in life is possible to overcome with the right mindset. Choose your business wisely and share your process with the world.
With Love and Respect,