5 Biggest Small Business Mistakes

Starting your own small business is definitely not risk-free, even for those who already have their business running. For those who are small business owners, you have to realize that small business mistakes happen. Some mistakes are a lot more severe than others. The worst of those you end up continually committing because you don’t realize they are mistakes to begin with.

Marketing
Trying to market to everyone can use up a lot of precious time, resources and money. In reality, this is a very misguided method for promoting your business. Clarify what your marketing position is amongst your potential consumer base. Your marketing position should be a feature or trait that customers are able to associate with your individual brand.

Advertising
Paying for your advertising can actually be harmful for a number of small businesses because of the costs involved. You can’t be sure you are going to get what you paid for with the advertising campaign. Avoid this mistake by generating publicity for free instead.

Overselling
Hard selling tends to be one of the biggest put-offs when trying to market your business. Even though this might give you some sales initially, these efforts can end up costing your business for the long-term. You need to be someone that people can go to for inspiration and advice, while providing the individual with what they need.

Selling Services Hourly
If you have a small business that is providing services to clients, it’s better to design a signature system over just charging someone an hourly rate. Signature systems are similar to a table of contents. They outline your services to clients and make them easier to understand. Using this system, you can provide a solution that is unique to your business, which increases brand awareness.

Running the Business Alone
Experience is crucial for businesses. If you are starting your own, it’s imperative that you hire someone who can guide you in the process. Mentors motivate and challenge you, as well as providing you with a fresh perspective for your business. In doing so, you can eliminate many small business mistakes that you might have fallen into previously.