There’s always something more you can do for your business and there are so many lessons that come with each setback. It’s all about what you learn from each mistake.
For the last three weeks we have been discussing the Three Mistakes of an Entrepreneur’s Life and while everyone faces challenges, it’s the lessons you take from them that define who you are.
The first mistake we discussed was playing for survival. What could be the lessons from this?
It’s quite simple. When you run a business that focuses on servicing the customers instead of building internal operations, you will be left jumping from one function to another, putting out fires and focusing only on surviving for the month.
The action step for this is to simply focus on building systems, strategies and teams.
Once these three are in place, you will have enough time on your hands to OVERLOOK the functions, which is what your job should be in the first place.
The second mistake that entrepreneurs make is relying on Karma Marketing or in other words, hoping for people to spread the word about your business and waiting for customers to come to you instead of taking your business to them by marketing and creating visibility.
There are many channels and methods of marketing, like, email marketing, content marketing, tele-marketing, etc. Choose what suits the needs of your business and start marketing yourself and making the world aware of your business.
The third one is not building teams.
How long will you do everything in your business? Are you an expert in all the functions? Marketing, sales, HR, R&D, accounts, can you handle everything on your own and do it right?
Of course not!
So why not build a team of experts who can handle the functions while you overlook everything and focus on taking your business to the next level! Because that is what your job is! To build a team that looks after the functions instead of jumping from one to another to sort out a situation gone bad!
What other mistakes have you made and what have they taught you?