According to The Balance: Small Business, there are 10 common mistakes that startups — and if we’re honest, even mature businesses — can make. Is it possible you’re guilty of some of these?
- Skipping the planning phase
- Not setting SMART goals
- Undervaluing your products and services
- Avoiding new technology
- Being afraid of marketing
- Not knowing who your ideal customer is
- Overspending
- Underspending
- Doing it all alone
- Not making a commitment
While there isn’t a fool-proof plan to reach small business startup success, there are several common and dangerous mistakes many new business owners make that can negatively impact their businesses.
10 Common Small Business Startup Mistakes
While the list could be a lot longer, good news is – there’s light at the end of the tunnel.
First, let’s all acknowledge that running an enterprise isn’t easy these days.
So many competing priorities:
- Building/expanding your business
- Getting your strategy, brand and offering just right
- Finding new customers, growing existing ones
- Hiring, rewarding and retaining the right team
- Keeping lenders, angels, VCs and the Board happy and onside
- Driving profitability and strong ROI to meet key financial targets
Yet so little time in the day.
And if you’re like most company leaders or small business owners, you certainly recognise sales and marketing are the twin engines of enterprise success, but they’re not your day-to-day focus.
The solution?
Get busy doing what you do best and let Wonderland do the rest.
Find out how your business can benefit from the power of strategic marketing.
Talk to the team at Wonderland.