6 mistakes that entrepreneurs make and how to avoid it - Motivate Mania

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Friday, 7 June 2019

6 mistakes that entrepreneurs make and how to avoid it

In the modern world, most people want to become an entrepreneur. The main motive behind the aim of becoming an entrepreneur is to just to live their life as they want to live. In simple words, we want freedom in life. They do not like to follow the commands of their bosses by saying Yes Sir! Am I saying right to you? If you already planned to become an entrepreneur in your life, then this article will surely help you to avoid mistakes which usually the young entrepreneurs make. In this way, you can avoid such mistakes and taste success as much as early.
Here I am gonna share 6 common mistakes that the young entrepreneurs make and the ways by which you can avoid such 5 mistakes.

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Let’s start the journey of 6 mistakes:

Mistake #1 You can’t define your business
This is one the common mistake that the young entrepreneurs make during startups. The young entrepreneurs are not able to define their business model and business strategies. Due to a lack of defining the business, they even fail in the business. Although it is very exciting to start a business at the early age of your life. But if you are not able to define your business, you will surely fail. I am also not saying that you do not start a new business but I am suggesting you to first clear your mind and you can easily define your business to other people. In this way, it will not help in gaining potential investors for your business but also help to increase your business networks. For this, you need to find out the needs which the consumers want and you can able to solve their problems. Although if you have a great idea, it will not work until it solves the people’s problems and as per the need of the consumers.

Mistake #2 Focus on your main goals
It is basically the extension of the above mistakes. When you try to do everything with yourselves, there is the chance that you may not able to focus on the main goals of your business. This is also possible that you start focusing on the subsidy goals of your business. You may forget you’re the right path to follow that will ultimately reach to your real success. If you are doing so, it will only waste your energy, time and money. So, identify the main goals of your business and start focusing on it.

Mistake #3 You don’t know your audience
This is very shameful for you if you do not know your target audience. Here the target audience means the consumers who will ultimately consume your products and services that you will be going to offer. If you do not know about them, it is just like the heap of sands that will fall at any time. If you have not done any market orientation, then how will you find that it will solve their problems or not. First of all, you need to do market research, get out in the market, talk to the people to whom you trust and understand the people. Will they appreciate your products that the market will buy or not? Perform the survey and share your ideas with them. Don’t worry they will not use your ideas because people are not seriously interested in building the business. In this way, you can use your friends, parents, relatives, and mentors to gather important feedback. Hence, it will help you to promote your products to the targeted audience and save your money a lot.

Mistake #4 Your presence over social networks
It is very important to have your business profile on different social platforms like Facebook, Instagram, Pinterest, Twitter and many more. This will help to grow your business and to know about your target audience. I am sure that everyone is using at least one social network in the present time. Using your social network profiles for sharing images and posts for personal use it will not help you to know about the target audience and for the business. You need to have separate social media accounts for the business profile. Make sure that your social network profiles are clear and not including any flattering posts, images, and videos. Keep your business profile clear and professional, remove all posts that will not your visitors and expand yourselves over social media networks.

Mistake #5 You are trying to do everything
Instead of trying to do everything, it is better to build the team and work in coordination. The doing tasks everything is just wearing different 20 hats at the same time. It becomes much easier to work in a team which has similar goals and also very exciting to work in this manner. As one single person can not do everything especially when you are trying to do something big. If you are able to find people who have similar goals, it becomes very easy to achieve your goals as early as possible and try to build them in your team.

Mistake #6 You don’t have a mentor

This is the most important part when you start your business startups. Having a successful mentor, it will not only help you to guide, support and teach you. Also, a successful mentor can teach you when and how to take risks in the business. Building a business in the world it does not matter a lot but to whom you are following it matters a lot. This will make all the differences whether you will become successful or not. Learning from the right person is essential in the business as there are many things to learn in the business.

Hence, I have shared 5 mistakes that entrepreneurs make during the startups of their business. I also like to hear from you via comments which one mistakes you like the most or you have avoided the same mistakes during your own startups.

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