The 5 Most Common Entrepreneurial Blunders - Lesli Bitel Coaching

The 5 Most Common Entrepreneurial Blunders

Hoping To Get Rich in a Hurry

Most “overnight successes” take years and years to get there. This is not the lottery you’re playing; it’s a long-term business strategy. If you think that starting a business will pull you out of debt immediately or pay the rent next week, you are in for trouble. You need to know that success takes time, perseverance and a little bit of luck. Give your business the time to grow.

Mixed Marketing Messages

If you don’t have a clear and consistent marketing message at every touch point with your audience, they will not really know who you are, what you offer, and what they can expect from you. First impressions are formed within seconds and confused mind does not buy. So make sure every opportunity a new prospect sees your business for the first time, sends the same coherent message.

Unrealistic or Vague Goals

Much like wanting to get rich quick, many entrepreneurs go into a new business without much planning and their eye on astronomical growth. Unrealistic goals not only hurt your credibility, but can also be an emotional drain. Set Specific, Measurable, Accountability, Realistic, and Time specific (SMART) goals to ensure steady progress and your chances of still being around in 5 or 10 years goes way up.

Trying To Do It All

The greatest mistake entrepreneurs make is to believe they can do it all by themselves. And when you are starting, being a Jack (or Jill) of all trades can give you a head start. But you can’t maintain that strategy for long. You need to identify what you are great at and do those few things to your fullest. Then surround yourself with people who are strong where you are not.

Forsaking All

Many entrepreneurs put their personal lives on hold to focus exclusively on their business. Ultimately both suffer. If you are a single, twenty something, you may have more time to devote exclusively to your business – for now. But if you’re a forty something parent you may need to pace yourself a little more! Remember, this is the “long game” – think like a marathon runner, not a sprinter. Eat right, get enough rest, spend quality time with others, and make sure you’re not working yourself to death to have your dream life.