4 Common Mistakes That Startups Make
Whether you are a Solopreneur, Entrepreneur or are thinking about starting your own business there are many who have walked down that path before you. Some have gone on to massive success, others have failed miserably, and there are those who are hanging on by a thread. The truth is you can learn a lot from all of them. Here are four common mistakes.
This one is far too common. We all know an entrepreneur who has been reading too many blogs about how others first got started in the startup world. He has absorbed all these started-from-your-mom’s-garage stories and is convinced that you don’t need an office or anything that sounds too corporate to make it big. So he spends his time working in loud coffee shops, trying to find the quietest corner to have virtual meeting with clients and partners, doing his best to ignore the barista who is giving him the “are you going to buy something else?” look. Not to mention the less than ideal internet speed and overpriced coffee.
Don’t be this person, get yourself a proper place to meet your clients and partners (virtually or in person), a place you can concentrate and that makes your startup look like a reliable, professional business people want to be associated with.
Imagine setting an appointment with a potential client on a well known office building (like the Willis Tower in Chicago or New York’s Rockefeller Plaza). Once they get there they are greeted at the lobby by a friendly person who directs them to where your office is. And yes, that IS your company’s name and logo featured in the building’s directory.
Spending too much on an office
You knew you would get an office before that last tip, right? You want an ultramodern office that is fully equipped, designed to simultaneously transmit the peace of a zen garden and the buzzing activity of a beehive.
But while dreaming is free, making your vision a reality would cost quite a lot of money. Every cent should be spent wisely.
What you need is an office that provides you with the essentials for a fair price. There are a number of options to consider such as getting a desk at a coworking space, hiring a private office for a few hours each day, getting a meeting room a couple of times per month, or setting up a virtual office. Which one is best depends on your specific situation and what you will be using the spaces for.
Trying to juggle too many tasks at once
Another mistake made by startups is trying to have their limited staff do more tasks than they can handle. Today apps at your disposal can help you automate tasks that go from invoicing, to filing taxes, to CRM, etc. Take advantage of these instead of trying to do everything yourself, you can then focus on your priorities. For example, you can hire a Live Receptionist to handle all your calls.
Waiting to be noticed
You launch your business and now what? Just sit around in the office all day waiting for those clients to call and subscribers to...well, subscribe? Work on those sales projections and read some more inspiring blog posts from your heroes?
No! Start making those calls, send emails, shout out that you are in business and your products and services are magnificent. You need to go out there and get people to notice you, because if you don’t they never will. And if they don’t know about you then you won’t be in business for very long. A great way to get noticed is to host a networking event (e.g. for startups in your community). Just make sure you promote it and plan it right!