Wednesday, February 25, 2009

Want to start your own business? get ready to make costly mistakes

I immersed myself to full time entrepreneurship within the past month and I am amazed at all the costly mistakes I’ve made. Here is a list.

1.) I didn't take the time to learn about SEO (search engine optimization).

I knew nothing about it and even though a seasoned entrepreneur told me that it is something I have to do, I ignored her. (Not because I did not trust her but because I did not understand what SEO is). If you are starting a website, take the time to learn about SEO.

2.) I placed everyone I ever emailed and everyone I know on my mailing list.

That is a waste of time and money. I ran into a distant relative at the store and she asked, “What, are you writing stories now?” (She was referring to my newsletter). That is when it hit me. Not everyone is interested or needs to know about what I do. And what kind of image am I projecting by just emailing everyone I know without learning if they are interested first? Do not waste the time. Only add people that you know are interested. This way you will not waste the money for paying a higher rate for a larger list when using services like constant contact or vertical response.

3.) I ignored the free services given to budding entrepreneurs and paid a ton of money for business coaches. I thought that the free services are useless. I strongly believed that I have to pay top dollar for quality service/coaching. Now I have learned that non profit organizations, like SCORE or Queens Economic Development Corp., offer one-on-one consulting, workshops, and seminars, that no entrepreneur should miss.

4.) I worked all the time.

This costs you your health and your relationship with your loved ones. All October I spent working the regular business hours, after the kids are in bed, while eating dinner, while doing homework with my oldest, and on weekends. I now believe that this is unhealthy. This November I am committing myself to a schedule. I will do a comparison post in December letting you know what it is like to work all the time versus a schedule.

5.) I tend to rush things.

Trying to get things done too fast can cost money and lots of it. One of the services my organization offers is networking events. In October, I collaborated up with QEDC, and the turnout was great. I then rushed to put together another event on my own in a matter of weeks. Bad idea. Events and any other kind of services need to be thought through and planned months ahead. Planning is key to getting people to participate. Stay tuned for more virtual and face-to-face networking events I will be offering. Feel free to join.

6.) I planned in my mind rather then on paper.

There is something powerful about writing/typing a plan out versus just thinking it up in your head. On paper, it is visible and clear. In your mind, it is whatever you imagine. I am entering Queens StartUP!, business plan competition. Stay tuned for updates on that as well.

I made these mistakes. Please learn from them and avoid making them.

Source: http://www.workitmom.com/articles/detail/5928/want-to-start-your-own-business--get-ready-to-make-costly-mistakes













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