When we start business there are several thing we need to have in mind. I will try and talk about them in this article. Just to inform that it might be different in your case, however these are some of the mistakes that lots of startups companies make.
The mistake list
- Bad location
Location is one of the first thing you should consider anytime you want to start a business. In my first job in Dubai, they had to shut down later. They had something good going on, but it was not at a suitable location for them. It was a nice place near Burj Khalifa / Dubai Mall.
Great marketing, but simply they just hoped that they will get some confirmation, which never happened later on. I know those people that say that you work with what you have, but sometimes just have a plan. More on business location.
- Wrong audience
I will use my previous place as an example again. We were in a good location, however our spot was surrounded with bars, hence the only time people would enter is when tourists are just passing by. Apart from that majority of the crowd that come theres, ew were simply coming for alcohol which didn’t help.
It was confirmed that later we were supposed to get the papers of approval for the alcohol license, but somehow this didn’t happen for 2 years and eventually they had to close, since they were not attracting the right audience. That place is expensive and business needs to be booming.
- Single founder
This might not be the case most times, but sometimes being alone is the one reason your business is not working out. ,
- Raising too little money
Most people start their business with little funds. They hope that the business will just boom and they will fix everything with time. You have to plan for loss as well. Another thing you can do, is to try and have a little hustle that will not make you lose concentration on your main reason might help.
You can read this, article might come in handy when you need to fix your business Reasonable way of making money online
- Bad planning
Every business should come with a plan. Working as a digital marketing consultant, I have to discuss this topic with lots of my clients. Social media is the most affected area. The majority of people that consult with you, all they want is just to know they have many followers.
Surprisingly, they are not even taking care of the few followers they have. You have to ask how they will manage a big crowd. All this means is they did not plan for the business .
- Choosing wrong platform
Nowadays, if you have a business, you need to be online. You have to pick the best platform for your business. Keep in mind we have a lot of them, so you have to choose a platform that is good for your audience.
- Not putting effort
Many people would want to believe that the only reason their business is not working is because they are not lucky. When it comes to social media, the more you engage is the more people will engage back. We see big pages and they will all tell you the same story: they worked hours to build the engagement.
- Poor management
Any business can collapse if it is not handled by a professional or if you don’t take care of it. Time is also part of management if you don’t use your time making your business better then you might be fixing things that you would have seen earlier.
- Hiring bad employees
This doesn’t necessarily mean that the people you employ and keep them in your payment system. Even the professional people you hire to fix maybe your site or write for you an article if you are a bloggers. Some people may have a blog site but does not necessarily mean that they are writing the blog.
You can even hire a ghost writer to write for you. The story can be yours, but in the end you are not the writer. The ones that you are applying on a monthly basis have to be committed. There is no such thing as a perfect candidate to employ, but they need to be committed to their work interest.
We are human after all and sometimes we can screw up. You can miss something which is important when you’re hiring but this you can change by firing or see how you can fix the situation. Put in mind we all can mess up sometimes and at times we might need chance. Be human. Do no harm.
This does not only affect only start up but it happens in many big companies. micromanagement is a management style whereby a manager closely observes and/or controls and/or reminds the work of his/her subordinates or employees. Micromanagement is generally considered to have a negative connotation, mainly because it shows a lack of freedom in the workplace.
The biggest mistake and one that you fix quickly if you admit is ego. You think you are smart and you don’t even see that you need help. No one is entitled to buy from you or follow you. You need to reach out and establish quality relationships and don’t be fake. However, the YouTube industry might change your mind when it comes to being fake.
Sometimes it’s not that the algorithms are not working, it’s just that you are simply not doing the necessary requirements.
I hope this was helpful. Thanks for reading.