Mistakes to Avoid When Starting a Business

[Alone055]

That's another angle, the internet has made it easy for us to reach people faster than the way it were some years ago. You can create a page and make awareness, even adverts are now easy to make to reach potential customers. That's what YouTube, Facebook and Instagram does now, TikTok is another big platform that you can make adverts of your products without having to pay for any advert, all these is achievable online but you can't do it offline and may be more stressful.

However, if you are planning to open a physical shop as a new start up don't rush to do that, make sure you have build up your customers from different places, makes the online customers know you have shop. By the time you focus on offline customer first and then start coming online, the bond might be difficult to build for people that way.

For a physical business that has just been started, it's important that they first cover their local market and surroundings, and engage customers from there before they expand their reach into wider horizons and start promoting their business online, because having local customers initially for a business is a good booster for it because they could become regular customers since they live around, and they could also spread the word about the business to other people they know or meet, and that's one of the biggest reasons for any business to run smoothly.

Online promotions should begin once the business settles a little, that doesn't mean it should become successful completely, but once it starts getting at least a few customers, and then to expand the reach of the business, it's good to venture into the online world with the business, and try and reach more people with an interest for the business and generate more sales. Online promotions would also require the business to be able to make home deliveries or door-to-door services for better sales.

[eightdots]

That's another angle, the internet has made it easy for us to reach people faster than the way it were some years ago. You can create a page and make awareness, even adverts are now easy to make to reach potential customers. That's what YouTube, Facebook and Instagram does now, TikTok is another big platform that you can make adverts of your products without having to pay for any advert, all these is achievable online but you can't do it offline and may be more stressful.

However, if you are planning to open a physical shop as a new start up don't rush to do that, make sure you have build up your customers from different places, makes the online customers know you have shop. By the time you focus on offline customer first and then start coming online, the bond might be difficult to build for people that way.

For a physical business that has just been started, it's important that they first cover their local market and surroundings, and engage customers from there before they expand their reach into wider horizons and start promoting their business online, because having local customers initially for a business is a good booster for it because they could become regular customers since they live around, and they could also spread the word about the business to other people they know or meet, and that's one of the biggest reasons for any business to run smoothly.

Online promotions should begin once the business settles a little, that doesn't mean it should become successful completely, but once it starts getting at least a few customers, and then to expand the reach of the business, it's good to venture into the online world with the business, and try and reach more people with an interest for the business and generate more sales. Online promotions would also require the business to be able to make home deliveries or door-to-door services for better sales.

Establishing a physical business incurs additional costs, and it's important to be aware of these costs. It's not like selling on social media, and there are many differences.

Before starting a business, thorough research should be conducted, including determining whether the location is suitable for the business, evaluating its pros and cons, what to consider when promoting your product, and providing transportation to and from the location.

Once all of this is complete and the decision to open a business has been made, it's time to address questions like how to reach more customers. Businesses should aim to reach more customers. Maintaining and maintaining the quality of their products is also important.

[batang_bitcoin]

This reminds me of a friend of mine who started his own business. He initially worked in a restaurant or food stall, and now he's established his own business. However, with his experience, he's become more knowledgeable about what to do, one of which is to differentiate his menu from others. This is one example of how experience is incredibly beneficial for starting a business.

Being experienced in the past jobs or other businesses that a person have been involved, it's certainly beneficial if they start their own business once again or if they're starting out fresh. They know what to do and the past owners or bosses that they've worked with for sure have also shared some trade secrets on how to make their products better. An adaptable person that applies what they've learned is likely to succeed in the business they're about to venture. Although those who has less experience, they'll also have to go through the same thing if they won't give up after few failures they'll get.

[lizarder]

Be careful with influencers, they may not be bringing as much as people think they do. When we had a business, we hired an influencer of the topic to come in and make a post on instagram, this person had 200k following on instagram, and had thousands liking it as well.

Maybe it wasn't influencers fault, I am not saying they are bad or anything, I am just saying it may not be helpful to you, because it was not helpful to us, it didn't create even a single sale out of that. It's a business that no longer exists, so maybe the fault was that we just had a bad business, so maybe influencer isn't the responsible one for zero sales. I am just saying before any of that marketing, make sure people will want your business.

It's possible that some cases don't work out with influencers, but I've personally felt the impact of their advertising on their social media. In short, I own a clothing store, and the several partnerships I've had with them have had a much better impact because they've reached consumers even though they live far from where I live. To market using influencers, you also need to understand their follower base to ensure it aligns with your business. I usually ask them what age group and gender their followers are based in.

Since I run a clothing store for teenagers, I also need to understand the level of influence these influencers have within that group. To generate interest in the products we sell, we must build a strong promotional base, and the narrative must be as compelling as possible to entice them to shop or simply visit the store. After that, it will be much easier to attract them to make purchases.

[BigBos]

This reminds me of a friend of mine who started his own business. He initially worked in a restaurant or food stall, and now he's established his own business. However, with his experience, he's become more knowledgeable about what to do, one of which is to differentiate his menu from others. This is one example of how experience is incredibly beneficial for starting a business.

Being experienced in the past jobs or other businesses that a person have been involved, it's certainly beneficial if they start their own business once again or if they're starting out fresh. They know what to do and the past owners or bosses that they've worked with for sure have also shared some trade secrets on how to make their products better. An adaptable person that applies what they've learned is likely to succeed in the business they're about to venture. Although those who has less experience, they'll also have to go through the same thing if they won't give up after few failures they'll get.

Not only that, those who start with experience can also develop ideas. As I mentioned earlier, he developed his own menu to make it unique. While the basic recipe might be the same, adding a few spices can create a unique experience, both in terms of taste and presentation. He also often consults with more experienced people.

Furthermore, he was able to employ several of his friends. Besides owning a business, he also created new jobs.

[Alpha Marine]

Online promotions should begin once the business settles a little, that doesn't mean it should become successful completely, but once it starts getting at least a few customers, and then to expand the reach of the business, it's good to venture into the online world with the business, and try and reach more people with an interest for the business and generate more sales.

I agree with the first part of your post, but I don't agree with this. The online presence of a business should start immediately after the business kicks off. You can try to build a relationship with those in the area where your business is, and at the same time build or grow your online presence. You don't have to settle for a little, as you put it, before you start pursuing online customers. It doesn't take much to create a social media account and offer your product or services there, and interact with customers. This at least creates an awareness of your product/services.

Then, as the business settles or when you can afford it, you get a professional to create a website and optimise it so you have good SEO. You can even get a professional to handle or show you how to handle (if you can) social media and Google Ads. You create ads on Facebook, Instagram, Twitter, TikTok and Google.  while also building your accounts by interacting with potential customers. Marketing is a very crucial part of a business. If you don't market your business properly, there is a high chance it will fail or not grow to the level you desire.

[armanda90]

You don't need experience to start a business, but I agree that having experience in the field or business you're building is much better. It gives you a better understanding of what you need to do, whereas inexperienced people are often a bit confused about where to start.

This reminds me of a friend of mine who started his own business. He initially worked in a restaurant or food stall, and now he's established his own business. However, with his experience, he's become more knowledgeable about what to do, one of which is to differentiate his menu from others. This is one example of how experience is incredibly beneficial for starting a business.

Lack experience start business? I think very bad ideas and you waste your money, time and your ideas for nothing guarantee will be success later. If you have much money and come from privilege family is fine star business without having experienced after all fail you still have much capital to start new business again. But don't try yet if you have limited capital to start business without have much experience I think too risk.
I found many new businessmen start business in restaurant or food most of them have working around three until five years ago relate with their business want to start, they have much experienced and know well how to anticipation risk when start own business. Learning later after start business for right now really not good ideas better have experienced firstly based on what the business will start than begin to start your business.

[Stablexcoin]

You don't need experience to start a business, but I agree that having experience in the field or business you're building is much better. It gives you a better understanding of what you need to do, whereas inexperienced people are often a bit confused about where to start.

I disagree that for a more technical business, you need experience. In some petty business, you may not need experience to start yours, but most businesses nowadays demand some level of expertise before entering. People take years to serve before going into their own business. If you don't take experiences before time, you will pay the consequences of mistakes with your capital, and it may slow down the growth of the business.

[Somto9Light]

Everything you said here is very important, but I would like to ask a question in regard of hiring a wrong person. Imagine moving to a place where you are not familiar with anyone there let's say you have alot of works at hand does it mean that you would wait until you get to know people around you or you will just look at thier faces and just pick? How can one find the right person in this situation? Because nowadays people like disguising themselves, they will look very innocent in your own view but deep down they are evil, so I'm curious to know how to go about this situation.

[dunfida]

You don't need experience to start a business, but I agree that having experience in the field or business you're building is much better. It gives you a better understanding of what you need to do, whereas inexperienced people are often a bit confused about where to start.

This reminds me of a friend of mine who started his own business. He initially worked in a restaurant or food stall, and now he's established his own business. However, with his experience, he's become more knowledgeable about what to do, one of which is to differentiate his menu from others. This is one example of how experience is incredibly beneficial for starting a business.

Lack experience start business? I think very bad ideas and you waste your money, time and your ideas for nothing guarantee will be success later. If you have much money and come from privilege family is fine star business without having experienced after all fail you still have much capital to start new business again. But don't try yet if you have limited capital to start business without have much experience I think too risk.
I found many new businessmen start business in restaurant or food most of them have working around three until five years ago relate with their business want to start, they have much experienced and know well how to anticipation risk when start own business. Learning later after start business for right now really not good ideas better have experienced firstly based on what the business will start than begin to start your business.

Experience is not a strict requirement to start a business but it acts like a shortcut through all the confusion mistakes and unnecessary risks that beginners face. when someone already worked inside the field they understand the daily flow the customer habits the small details that outsiders never notice. your friend who worked in a food stall before opening his own place is a perfect example because he entered the business knowing how to set himself apart with a unique menu and that came only from real hands on experience.

Starting a business with zero experience is possible but extremely risky especially for someone with limited capital because every mistake costs money and beginners make many mistakes in the early stage. if someone comes from a wealthy background they can afford failures because they have more chances to try again but someone with tight funds cannot waste a single attempt. for them experience becomes a protective layer. Many successful small businessmen especially in food and restaurant work usually spend three to five years learning the field before opening anything of their own. they see what customers want what problems appear in daily operations how to manage supplies and how to prevent losses. this preparation helps them avoid the common traps that destroy new businesses.

[Rabata]

This reminds me of a friend of mine who started his own business. He initially worked in a restaurant or food stall, and now he's established his own business. However, with his experience, he's become more knowledgeable about what to do, one of which is to differentiate his menu from others. This is one example of how experience is incredibly beneficial for starting a business.

Being experienced in the past jobs or other businesses that a person have been involved, it's certainly beneficial if they start their own business once again or if they're starting out fresh. They know what to do and the past owners or bosses that they've worked with for sure have also shared some trade secrets on how to make their products better. An adaptable person that applies what they've learned is likely to succeed in the business they're about to venture. Although those who has less experience, they'll also have to go through the same thing if they won't give up after few failures they'll get.

I agree with you. In fact, you should start investing by accepting that you will lose money in order to learn, this is the case with any business. That is why you should not invest a lot of money in the beginning, but invest a small amount of money, as a result, even if you lose, you will not suffer any big loss and you will be able to learn why you lost and use it correctly next time. But if you invest a lot of money in the beginning, then later you will not get any more money to invest and you may never invest again because of fear. Another thing is that many people read a lot of books and watch many investment videos before starting to invest in any business, and as a result, they are likely to make big mistakes. For proper education, you should start investing on your own or if someone else has already invested in that particular business, you can get the right idea from him. The education that you will get by reading books or watching videos is very different from reality. Every new investor should give proper importance to all these things.

[Smartprofit]

A practicing businessman once told me how to start a business. He said, "You don't need to rush to register a legal entity. You don't need to rush to rent office space. You don't need to rush to hire staff. You need to implement a series of actions that will bring you money. Once you have real business processes that generate money, you can start scaling your business. And you'll have a legal entity, an office, and staff!" 🏬

I remembered his words because they were the words of a wise and knowledgeable man. In business, the most important thing is profit. If you're making money, if you have a positive cash flow, then you have a business. Everything else is secondary. All legal and accounting issues are just a pretty wrapper for a candy. However, the most important thing is the candy. The candy is profit (money).

[Oluwa-btc]

Every good businesses needs to start,learn and grow.A successful business comes from clarity, strategy, proper planning and consistency.Many business starters are unsure about their vision plans, marketing skills and product building/solving ability.Oftentimes,many new entrepreneurs only focus on the product,the logo,he name,he hype but forget to ask “What problem am I solving?” because If there is no real problem, there is no real demand.

[wozzek23]

The place of experience is one thing that can't be replaced by anything because, business is a practical field business is beyond theory any can theorize and even learn about business from schools but that is not enough for anyone to succeed in business. Practicing what you have leant in the theory phase is the defining factor when it comes to running a business.Having a first hand expertise experience is what makes the difference in the business world, there is definitely going to be a clear difference between someone who has built his time getting experience and some who just come to start a business without getting the needed experience.

The tricky part that I am not really aware and can ask someone to help out, is what if you are rich? Imagine you have parents that are rich and you want to start a business, how are you going to gain experience in a field? Go work for a company that does it?

You are not going to end up with minimum wage jobs neither. Imagine you have so much money that you open your own McDonalds, it takes millions of dollars to do it but you have the money for it, what are you going to do to get experience, go get some job as a cook? Doubt it.

[Cheema02]

That's another angle, the internet has made it easy for us to reach people faster than the way it were some years ago. You can create a page and make awareness, even adverts are now easy to make to reach potential customers. That's what YouTube, Facebook and Instagram does now, TikTok is another big platform that you can make adverts of your products without having to pay for any advert, all these is achievable online but you can't do it offline and may be more stressful.

However, if you are planning to open a physical shop as a new start up don't rush to do that, make sure you have build up your customers from different places, makes the online customers know you have shop. By the time you focus on offline customer first and then start coming online, the bond might be difficult to build for people that way.

Yes, you are right online marketing and the power of the internet in modern business. Nowadays many individuals hunt a thousand customers through the internet within minutes through social media platforms like YouTube, Facebook and Instagram and through different websites. Currently TikTok is the best platform for advertising with no or little budget and with a very short passage of time. Online marketing is faster and stronger than physical marketing because in physical marketing there is a lot of stress on the mind due to the burden of business. I also strongly agreed with your advice about physical shops. If you want to start a business, start with online work and make a strong audience and check the demand of the market and when a customer trusts your brand then opens a physical shop. If you open physical shops first then it's difficult to trap a digital customer early on. So the learning point is that we should use social media platforms for business if we want to sell products faster and safer.

[Oluwa-btc]

You've spoken so well and has pointed out key areas that's required for any one trying to start a business and it's sure serving as a guide. Absolutely what kils a business it could be a fresh one or something that's existing is wrong management and poor planning system. This era business thrives in sn unexpected manner so it's advisable to be consistent with their dealings you can't tell of the outcome cause every top business we are seeing today started off very small and get to their actual place, so when you don't take heed of this mistakes you'll repeat them when you eventually run yours.

[Iamgoat]

This reminds me of a friend of mine who started his own business. He initially worked in a restaurant or food stall, and now he's established his own business. However, with his experience, he's become more knowledgeable about what to do, one of which is to differentiate his menu from others. This is one example of how experience is incredibly beneficial for starting a business.

Being experienced in the past jobs or other businesses that a person have been involved, it's certainly beneficial if they start their own business once again or if they're starting out fresh. They know what to do and the past owners or bosses that they've worked with for sure have also shared some trade secrets on how to make their products better. An adaptable person that applies what they've learned is likely to succeed in the business they're about to venture. Although those who has less experience, they'll also have to go through the same thing if they won't give up after few failures they'll get.

I believe experience is the goal when you are about to start your own business. Though even people without experience can still make it but they will pay with more time more mistakes and more money lost at beginning and it's because business is just a practical thing and not some theories or hypothesis in paper. Because your friend paid the price when he was working for someone else by learning through the person's mistakes, failures and loses, he was able scale through a lot of challenges he would have faced when starting his business which he's now enjoying the profit. The ones who are just starting afresh will have to go through the same rigorous school of hard knocks and if they don't give up after the first few failures, they will also learn everything and succeed later. The goal is for you to put your head in whatever business you do and learn it the soft and the hard way.

[Perfectbaby]

A practicing businessman once told me how to start a business. He said, "You don't need to rush to register a legal entity. You don't need to rush to rent office space. You don't need to rush to hire staff. You need to implement a series of actions that will bring you money. Once you have real business processes that generate money, you can start scaling your business. And you'll have a legal entity, an office, and staff!" 🏬

I remembered his words because they were the words of a wise and knowledgeable man. In business, the most important thing is profit. If you're making money, if you have a positive cash flow, then you have a business. Everything else is secondary. All legal and accounting issues are just a pretty wrapper for a candy. However, the most important thing is the candy. The candy is profit (money).

Thank you for sharing a valuable knowledge here, reading your post make me have break to what I was thinking, although every thing you said here is correct because if someone is not that stable and he rushed to get all these things they end up failing, but if they are stabilized and having a good cash flow in their business of course they can hire whom they want to hire and also rent and expend their offices to accommodate more staff.

[Smack That Ace]

Everything you said here is very important, but I would like to ask a question in regard of hiring a wrong person. Imagine moving to a place where you are not familiar with anyone there let's say you have alot of works at hand does it mean that you would wait until you get to know people around you or you will just look at thier faces and just pick? How can one find the right person in this situation? Because nowadays people like disguising themselves, they will look very innocent in your own view but deep down they are evil, so I'm curious to know how to go about this situation.

Nowadays, many people are very good at disguising themselves, making recruitment extremely difficult. It can be said that there is no absolute way to help you stay away from those fake and hypocritical people. However, by setting your own standards and requirements and hiring based on those criteria rather than on emotions or looks. You can significantly reduce the risk of choosing the wrong person.

In addition to being based on criteria and requirements, employee selection will also be based on your experience and vision. Each leader will have their own experience and vision to evaluate their employees.

[Raflesia]

Being experienced in the past jobs or other businesses that a person have been involved, it's certainly beneficial if they start their own business once again or if they're starting out fresh. They know what to do and the past owners or bosses that they've worked with for sure have also shared some trade secrets on how to make their products better. An adaptable person that applies what they've learned is likely to succeed in the business they're about to venture. Although those who has less experience, they'll also have to go through the same thing if they won't give up after few failures they'll get.

Of course, having experience is good, because it indirectly provides us with certain knowledge about the field we previously worked in. And in fact, people who like to seize opportunities won't hesitate to expand their knowledge, including by asking their superiors about the business they're running. Wise people will seize this opportunity and see it as an opportunity, but for most, it's just a passing knowledge.

Experiencing failure in business is normal, as it's part of the business process, and from there, a mindset emerges that concludes there was a mistake that needs to be corrected. But not everyone is like that, some people give up easily and are frustrated by failure. This depends on how they manage the risks involved.