9 Mistakes Emerging Entrepreneurs and Business Owners Make When Trying to Grow Their Business

9 Mistakes Emerging Entrepreneurs and Business Owners Make When Trying to Grow Their Business.

#1 - Listening to and trying to execute ideas from multiple gurus.

My experience is that most any growth model can work—if you do the work. The challenge is that leaders like you get mesmerized by the new hot guru that all your friends are listening to. So, instead of committing to a plan and working it through deeply, we get retail dopamine from buying a new course or product while quietly whispering to ourselves, "THIS TIME, this one is going to work (I hope)."

#2 - Inconsistency and being undisciplined

Entrepreneurs are notorious for being massive "Quick Start" people. We love to get a new idea, a new vision, a new plan and jump in whole heartedly to being building and implementing. The problem is that about 91% of those are terrible at finishing a project. Following through, once a new plan gets old, takes more effort than you expected, or is simply not fun anymore, we simply get bored or disconnected and employ #1 above and find something new. Pros finish or hire help to help them finish.

#3 - Glamorize success and underestimate time required

We all love wins and especially quick wins. Who doesn't? But almost always, wins in business take time, effort, discipline and a commitment for more than we originally thought? Sound like you? We are wired to see the fun parts and totally ignore the stuff we don't like or frankly, are not good at. So, we end up with a ton of unfinished ideas.

#4 - Listen to our criticisms 10x more than our praises

Let's face it—we can brutal to ourselves. All too often, get miss something, mess something up, or just flat out fail. We will play that "defeat" in our head over and over and over while completely forgetting the win we had today. All too often we make our failures HUGE while almost forgetting a real win. Who needs trolls, right? We can just do it ourself. LOL.

#5 - Focus on the wrong thing at the wrong time

There are specific stages of a business when you should focus on the right thing at the right time. Initially, revenue is key. Many get bogged down in systems or in websites, when the answer is to sell, sell, sell. Later we focus on selling when we should be focusing on teams so we can begin to work ON the business instead of in the business. That is where burnout is born. you have to do the right thing and the right time. (and know when to so what—of have a trusted advisor who does.)

#6 - Offer what you love instead of what people want

Broad and wide is the product graveyard where we spend a ton of time on "the greatest idea of our career" only to have it open to crickets because we did not test the market to see if anybody wanted it. Instead, we LOVE our own ideas and convince ourself that as soon as we introduce it, people will want it. Almost never happens.

#7 - Under-value our expertise

Probably 8 out of 10 conversations I have around a business owners pricing starts with a cringed up face as they share what they charge. The contort and squirm because they feel bad asking for what they ask, instead of believing in the value. This is a major roadblock for growth. We have to know our worth, believe in the value, and charge what the market will bear. It doesn't always have to be a higher price, it just needs to be the right price.

#8 - Believe everyone is doing 100x better than we are

Comparison is the thief of joy. One of the fastest ways to fail is to focus on everyone else's success (or at least their FB, IG, and Li version of their success.) My experience is that about one third are telling some version of the truth, one third is in the same boat as you, and one third is lying their butts off trying to "fake it 'til you make it." Don't fall for the trap.

#9 - Not asking for the sale

You closing business is directly related the amount of times you make an offer to your audience. I cannot tell you how many times I get a call from someone who is not hitting their goals in sales and when I ask how many times they have pitch their product to someone, I get crickets. You have to put your product or offer in front of people who need it AND who have the means to pay you. otherwise, it is going to be feast or famine. Sound familiar?

By the way - if you are still reading all the way down here, I assume that means that you have or are dealing with one or more of these challenges. (This is me putting an offer out here) We should talk soon.

Each of these challenges are common and and relatively easy to overcome. You simply need an experienced guide who has been there, overcome it, and created a successful outcome for themself and for others.

I have been there and walked business leaders like you through the jungle many, many times. I would love to visit about how we can get you out of your rut and into a mountain of success.

Talk soon.

Kevin B