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Business Mistakes

There are three mistakes that most businesses make:

  1. Not having a target market
  2. Not being passionate about your business
  3. The biggest and most expensive mistake is trying to get something done yourself outside of your core competency.

Target Market: This is a big world and not aiming your marketing efforts towards a specific target will make survival very difficult. You can target by area, by income, by professions, homeowners, etc… If you are, for example, a plumber, you might focus on an area and then on commercial,  residential, new construction, remodeling, kitchens, bathrooms, etc…  Once you determine your target market then all your marketing has direction.

Being passionate: How often have you heard “I don’t like my job”?  If you are passionate about your work, it will become more than a “job”. Your customers will know it and you will stand out in a crowd. It will transfer to your web site, blog and all your marketing tools. You will be better in answering the questions that all potential customers ask, “What’s in it for me”?

Outside of your core competency: ” Do what you do best and out source the rest”. If your expertise is, for example, in the field of medicine, you, more than likely, are weak in accounting, marketing, planning, buying or leasing an office, and a host of other things that a small business has to do. You make your money by working in your area of expertise. All the other work does not produce an income. Yet, most small business owners spend, in some cases, more time doing work that they don’t know how to do instead of working to earn an income.

These three items apply to all businesses and should be an important consideration when planning to start a new business. Plan ahead and budget ahead; consider these three areas and your business will flourish.

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Procrastination if the art of keeping up with yesterday.

Have a gr eat day!

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