Owning a business – you’re finally free of rules, your boss, set hours, the red tape, performance reviews and other people’s expectations.
At least you thought you were.
If your business isn’t performing the way it needs to, you might be thinking… what the hell have I done.
You said sayonara to your steady income, 9-5 (ish) hours and in hindsight, the ease that can accompany someone else telling you what needs to be done.
You catch yourself thinking, hmm, maybe I had it good and didn’t realise it. Maybe, things were easier back then and I’ve made a whopping mistake thinking I’m cut out for this.
I’m in my second year of business and I won’t lie to you – I had those thoughts too and worked with plenty of business owners who have felt the same way. We’ve all gone on to build freedom giving, income making, successful brands.
One thing to remember is – running a business is a baptism of fire. You don’t know what you don’t know (eg, the fact that you will NEVER get through your to-do list and the ‘thing’ that you have to offer is just the tip of the iceberg.
As a business owner, you’re responsible for not just your product or service, learning about all the existing stuff you didn’t even know existed just to keep your business viable.
If you didn’t feel completely out of your depth .. you’d be in your comfort zone, and we both know, that’s not where the magic happens.
Mistakes are natural – we are human. With the right mindset, they provide us with the opportunity to learn, adjust, dust ourselves off and try again.
But we both know … business mistakes can rock your confidence, slow your progress and make you feel like an idiot.
Sometimes, you want to haul arse to the nearest laptop and update your resume.
I’ve had my fair share of business mistakes – and seen plenty too. I’m sharing my experience with 5 things I wish I knew when I started, so you can learn from my mistakes.
Here are 6 business mistakes to avoid like the plague
1) Leave your employee mindset behind.
Being an employee and owning a business are two very different kettles of fish. Both are necessary, valuable and which team you play for is your choice. They require different ways of thinking to ensure success and often, you’re not aware of this transition before you start.
What’s an employee mindset?
All the things you learned when you worked for someone else.
- It’s equating value to how hard you work and how much you achieve
- Hustling and grinding to get through all of the tasks
- Waiting for approval
- Taking on additional responsibility to prove yourself
- Working for exposure, positive reviews, bonuses and promotion.
As someone who used to work in corporate, I went into business with this mindset because that’s what I knew. I quickly became overwhelmed with the misalignment of what I thought business would be like (flexibility, free time to spend with my family and keep on top of things at home). I was drowning in to do’s, trying to make everyone happy, turning away repeat work from clients and thinking there’s no way I can do this long term.
And then I listened to this podcast with James Wedmore and Anita Siek
I had it all wrong. I needed to get out of the nitty-gritty tasks and take on strategy, make the best use of my time and energy and step into the role of CEO of my brand.
This leads me to mistake number two.
2) You’re capable of doing it all … but not all at once
I get it, outsourcing feels scary. You’ve got this brand new business baby and thinking about handing parts of it over to a stranger and how they might eff it up hurts your heart. You’re not making money so you can’t spend too much … so you spend hours and hours ….. and hours trying to figure out all the bits of business, even the ones you hate.
In the process, you are taking up time that could be profitable, or spent doing things you enjoy which is probably one of the reasons you started your business in the first place.
This one word will change your life.
OUTSOURCE.
Make a giant list of where your time goes. Consider whether you enjoy the task and if you’re good at it, whether it aligns with your business goals, profit and otherwise and ask yourself – is this the best use of my time and energy?
Choose who you outsource to wisely and hand over to an expert who gets you and your brand and can help you get from where you are to where you want to go.
These are the businesses I trust with Jodie Norman Writes:
Creative Desk – Michelle is a fabulous marketing VA. Things that would take me 12 hours, she does in the blink of an eye.
KSB Services – They are the most patient, non judgemental bookkeepers. Teaching me how to get my head around business finances.
Lauren June – She makes strategy and profit, simple.
3) Do not neglect your brand foundations
When you start a business, you think you’ve hit the sweet spot. You have a thing you believe people want and will pay for.
But … unless you have no competitors, there’s no guarantee people will choose to buy from you. That’s where your branding comes in, there is so much more to it than a logo and colours.
We want to buy from brands we can identify with, who share our values and have a vision and purpose we believe in.
When we decide to spend our money, it’s because we’re not just getting a product or service. The brand we spend our hard-earned dollars with gives us a solution and makes us feel a certain way.
If you’re not crystal clear on your brand, you:
- Attract the wrong people
- Struggle with making sales
- Wonder why and where you’re going wrong
- Have trouble articulating your point of difference
- Lack clarity with unclear and inconsistent messaging
- Have no idea how to start marketing
Clarifying your brand first lets you sidestep confusion and re-work later and will allow you to turn goals into an actionable strategy.
I cannot tell you how many times I have seen business owners asking for feedback about what they are doing wrong, and the majority of the time it comes down to not having a clear brand foundation for their business.
If this is you … click to sign up for my Unbaffle your Brand E-Guide.
It’s for business owners who don’t want to spend thousands of hours or thousands of dollars building a successful brand.
4) Grow your email list
No stork delivers our ideal clients into our hands (gahd I wish It was that easy some days) which is why marketing exists.
Social media is great, but if you choose to rely on it as your marketing strategy… you are building on rented land.
Did you know:
Email marketing generates $42 for every $1 spent, which is an astounding 4,200% ROI, making it one of the most effective options available. (Hubspot).
When people willingly give you their email address, they want to hear from you! What better people to convert to paying customers?
5) Invest in yourself
You are the fuel that keeps your brand running. If you want your brand to remain relevant and profitable it’s important to believe you are worth it.
If you choose not to invest in yourself, how can you expect someone else to invest in you?
I’m not just talking about spending money on upskilling, professional services or development although these are all great options.
Choose to invest in your physical and mental health. Engage with a mentor or community of coworkers or business owners. Teach other people and make time to fill your cup. Your brand comes down to you so you need to feel confident and clear.
6) Stop waiting for permission
It’s a beautiful thing when the penny drops and you realise – you are making the rules here. No one tells you what to do or how to do it. Do you want to work 15 hours a week? Come up with a plan to make that happen. Do you want to let your sense of humour shine through? Weave it into your brand voice. This is YOUR thing. You have the choice and the power to build your brand any way you like as long as it aligns with your brand strategy and goals.
The world really can be your oyster!
Did any of these resonate with you? What’s one thing you wish you knew back when you started your business?
