You’re a startup business and need to expand. The facts demonstrate that most business ventures long for development and to increase and extend their range, however extension isn’t generally without its traps.
It’s normal for business ventures to commit some genuine errors when endeavoring to grow. See Business Mistakes That Affect Growth
1. Obsessive love or criticism for your product or service: Young entrepreneurs or business owners tend to have a bias towards their service especially when it’s something they are passionate about. You must not let love cloud your vision so much that you cannot see the flaws that need to be worked on. In the same vein, excessive criticism is equally a bad one as continuously criticising your service can prevent you from seeing the business strengths that should be tapped into. Excessive criticism also creates a depressing work environment that is not good for you business.
2. Underestimating the length of the journey: A major mistake business owners or young entrepreneurs make is expecting an overnight success. A lot of the most successful businesses took a lot of time to set off and become fully functional and profitable. Amazon, for example, wasn’t profitable for years but as at this moment the founder is the richest man in the world. Sometimes you just need to sow the seed and watch it grow gradually as wanting quick results might result in dubious measures. You can’t build a skyscraper in one night even if you have all the money in the world.
3. Doing Everything Yourself: You are not a superhero with diverse powers, you can’t do everything yourself. If you do you are inviting stagnation. No matter how hardworking one person is, his results can’t be compared to the effect of a team. You can’t do ten things at the same time and think it would work. 4.Not following through with projects: A lot of entrepreneurs have the start and stop syndrome. Bobbling with so many ideas that they can’t seem to follow one through. As much as you need to be flexible and open to new trends, you also need to learn how to be consistent. Pick a unique selling point and push it till it reaches the zenith. SPECIALIZE till you are special.
5. Not paying enough attention, time and money to marketing: Too many new entrepreneurs belittle the importance of marketing. You have to be visible. Ensure that all your actions are done with the intentions of letting the world know about your brand and it’s products and service. Marketing is a lifelong process as new competitions and diverse alternatives are springing up every day. What makes you move forward is staying relevant through consistent marketing. To celebrate that victory that you dream of then please stop making these business Mistakes That Affect Growth