Remember when you started up your business? Things were going fairly smooth, right?
But growing your business will give you the opportunity to make real money as long as you avoid these top 5 mistakes that plague a young business:
1. The Overreact
When growing your business there are always issues that come up that need to be resolved. Just get to the heart of the matter and tackle it after thinking it through. Don’t react in haste, make sure you research and then apply what you learn.
2. The Money Pit
Your business is starting to make real money and you have a profit to work with. Don’t move away from your business model that you have built for yourself. Don’t get pulled into places that won’t benefit your business growth like overspending in ads and paying for leads. Don’t dilute your focus.
3. The Crumbling Foundation
When your business was just a vision of yours you had to formulate an idea and it blossomed into a tangible business. You implemented a step by step plan for growing your business into the model that will make real money for you. Nurture that plan and don’t forget what your mission is for your business.
4. The KISS
Don’t waste time with tasks that aren’t directly related to your business. This will take you away from the things that make real money. This will create a work overload with things that are not relevant to the cause creating stress for you. Keep it simple and stay focused!
5. The Opportunity Seduction
Keep your eyes focused on the business goals and not all of the shiny things that distract you from your plan for growth. There are a few things that are worth checking out like joint ventures, licensing your product and finding a complimentary target market.
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Online or offline, if you avoid these common 5 mistakes you will be growing your business to make real money. This will keep you focused on the things that count.
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What are you doing in your business to avoid some of these mistakes? Please share your comments below.
To Your Continued Online Business Success!
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Great list! i especially like the tip to keep expenses down. It’s easy to get talked into spending money on ads or promotional items that won’t increase the bottom line. Also, it’s so important to stay focused on your business and not get distracted working on projects that don’t relate to your goals. Thanks for the reminder to stay on track.
Lisa Kanarek recently posted..Need Small Business Advice? Just Ask
Yes that is an area so many businesses fall victim to. Thanks Lisa for your comments and I’m with you on keeping that focus. It really is key to keeping us track. Look forward to you visiting again soon. Have a good weekend!
Lynn Brown recently posted..Building Confidence for Online Business Success
Hi Lynn,
Those are five very important points for running a successful business. It does no good to overreact because that makes it impossible for us to think clearly and make good decisions. Getting distracted is something that I think all business owners deal with from time to time. I know that I deal with it more than I care to. I find that I have the most success with that is when I write out what needs to be done each day and do that first. It tends to weed out the unimportant activities.
Thanks for sharing!
Stacy
Stacy recently posted..Why You Are Better Off NOT Learning From a Guru
You are like me Stacy, I always make a habit of writing down 3 goals I want to accomplish in the morning. I always try to complete all 3 but sometimes things get in the way, like unexpected client calls, problems with the computer and that sort of thing.
Appreciate you stopping in today and sharing you awesome comments and advice. Really helpful for others and I hope to see you again real soon!
Lynn Brown recently posted..How LinkedIn Can Generate More Leads Than Facebook and Twitter Do
Great value and advice. Keep going!!
William O’Toole recently posted..WHY…WHY…WHY??
Thanks William and so glad that you stopped in today. I visited your blog today because the title of your post, caught my eye. So I left a comment to your inspirational post on …Why?
Lynn Brown recently posted..How LinkedIn Can Generate More Leads Than Facebook and Twitter Do
It definitely takes time to build a business… I think the problem with internet businesses and people trying to make money online is this…
there are so many opportunities out there that people don’t take them seriously… they jump from business to business, opportunity to op and wonder why they fail…
Stick to ONE thing, get good at it, build up the foundation and succeed!
Simples…
Really great point that you make here Gavin. The ole Opp Jumping! Starting out on the internet in 1995 I fell victim to that. It wasn’t until I realized that there are no other better opportunities except for the one that I created and focused on.
Glad you stopped by today and added your comments and advice. A helpful tip to share. Please visit again real soon and have a great day Gavin.
Lynn Brown recently posted..How LinkedIn Can Generate More Leads Than Facebook and Twitter Do
Hi Lynn, This article is a wealth of information and filled with helpful tips to keep us focused on growing our business and making it successful. I really appreciated #4 and #5 because wasting time on non relevant tasks and shiny distractions which don’t enhance our business happens to all of us and its really important to try to avoid these pitfalls. Thanks for sharing all the excellent advice!
Shelley Alexander recently posted..Smoky Spicy Black Bean Hummus
Happy to share these tips Shelley and I am glad that you agree that non relevant tasks and those shiny distractions are big time wasters. So glad that you stopped by today and shared your comments and advice. It will be very helpful to others as well.
Look forward to you visiting again soon and have a great day!
Lynn Brown recently posted..How LinkedIn Can Generate More Leads Than Facebook and Twitter Do
It good to stay calm and not to overact when something happens that was not expected. Everything will resolve. It is also so spend money wisely and not buy every product you can.
Being focused is also critical. Focusing on money making activities will increase our productivity and income.
Jacob recently posted..Simple MLM Help Formula – Smashing King Kong
Good points Jacob. Sometimes our customers or clients push our buttons, but as you say, staying calm, don’t over react with help to resolve any issues that come up in our business. Spending money wisely is something I’ve learned as a little girl. So applying it to business is key.
Really appreciate you stopping by today and sharing your thoughts and good advice. Hope to see you again real soon.
Lynn Brown recently posted..How LinkedIn Can Generate More Leads Than Facebook and Twitter Do
Wise words Lynn, I often fall into the money pit and am then in for a rude awakening!
I love the reminder at the end, that your advice is valid for both online and offline business
Sarah Arrow recently posted..Does my business blog need an email list?
Thanks Sarah. Glad you noticed that these tips prove to be good for any business. And the money pit is something we all are or have dealt with. Just learn from it and keep pushing forward. Thank you for sharing your thoughts as it is helpful to others as well.
Making mistakes is inevitable while running a business. But there are different kinds of mistakes. Most of them are those small slips that we make here and there. They might give you some headaches, but over the long run they won’t affect your business significantly.
Some mistakes, however, might actually hurt your business for good and drastically reduce your chances of succeeding.
And the interesting thing is that we are talking about a small number of mistakes that entrepreneurs repeat over and over again.
Great article Lynn!
Amrik Virdi recently posted..How To Get Accepted Your Guest Post On Top Blogs
Thanks Amrik. Good points that you make here. The repeated mistakes are lack of focus and understanding from those mistakes, well, at least that is what I think might be the reason. But I agree, those repeated mistakes will not create a very successful business.
Appreciate you stopping by today and hope to see you again soon!
Very very timely Lynn, I and a couple of my friends are planning to set up a small business online. These tips will surely guide us along
Thanks a lot.
Herbert recently posted..The Importance of Using Business Card in Business
Good to hear Herbert! And much success to you and your friends. Let me know if I can be of assistance and sure hope you will visit again soon. Have fun!
Hi Lynn, there are so many mistakes a new business could make, and many times mistakes come after the success of a it, since as you mentioned we might start overspending on things that are not necessary and turn a success to failure, thanks for sharing…
Kostas recently posted..5 Ways to Fund Your Online Business
You make a great point Kostas. I know of many business owners that went belly up from increasing their business with expenses rather than in things that would grow the business. Appreciate you stopping in and sharing your comments!
Hi Lynn,
These are great tips to live by when building a successful business. It is easy to get carried away when we make a little extra. But when we focus and do the one or two things that work and keep applying these again and again… before we know it we have built something quite special.
Beth
Beth Hewitt recently posted..Time Waits for No-one
That is so true Beth and when you have something special, don’t mess it up, right? lol. Appreciate you stopping by today and sharing your insight on this topic. A positive outlook for those that may be struggling or falling into those mistakes they wish they didn’t make.
Have a wonderful day Beth.
Lynn Brown recently posted..Succeeding In Business With A Winning Attitude
Hi Lynn,
When your have a business online, I think that it’s easy to get side tracked and take some actions that are only secondary and not the type of actions that make you the money.
Thanks your for those 5 great tips.
Sylviane Nuccio recently posted..Why Writing For Peanuts When You Could Write For Big Buck?
You are welcome Sylviane and you make a good point. There are a lot of actions that really should be categorized as secondary. If we can determine that, then we can turn our attention to the most important aspects of our business.
So I appreciate you stopping in and adding your insight. As I mentioned in other comments, this is the kind of discussion that I hope might help others to overcome any of these mistakes. Have a wonderful day Sylviane!
Lynn Brown recently posted..Squashing Self Doubt for a Stronger Online Business
Hi Lynn,
Thanks for the tips in growing your business by avoiding these 5 mistakes. I think The KISS is one of the most important mistake to avoid. I believe that this is what causes the sinking ship for most marketers. Overload, lack of focus, and spending time with unproductive activities waste time and money and will lead to failure. Time is money and when it is spent on “time wasters” it will not only prevent you from getting your business off the ground, but quickly crumble it after it is established. Every mistake listed relates to staying focused. Great guidelines Lynn!
Raena Lynn
Raena Lynn recently posted..youtube first page Rank Is Possible
Well said Raena! I couldn’t agree with you more. And unfortunately there will still be many more that will be in that sinking ship. That is why I hope messages, comments, tips and advice – like yours – will help others to escape some of the pitfalls.
Really appreciate you stopping in and adding your awesome advice to the conversation. Hope to see you again real soon!
Lynn Brown recently posted..Building Confidence for Online Business Success
Great advice Lynn!! Shiny object syndrome was killing me when I first started out. All these great an wonderful things to help build a business, get traffic, have money growing off my tree’s. They were all very attractive. But in the end I am laser focused on my blog and social media these days.
Clint Butler recently posted..Google Penguin: More Good than Bad?
Thanks Clint! I like that ….’laser focused’. It certainly is required these days isn’t it?
With all the social media and things we need to do in our business, being really focused is a huge key to success.
I really appreciate you sharing your experience and advice Clint. So glad you stopped by and hope to see you again real soon.
Lynn Brown recently posted..Succeeding In Business With A Winning Attitude
K-I-S-S theory…love your key points. Staying focused, keeping with a plan that’s already working well, slow expansion…all wonderful reminders.
Tambre Leighn recently posted..The “S” Word
K – Keep focused I – Incorporate what is working well S – Stay the course S – Slow expansion …. I like it Tambre! Appreciate your wonderful addition to the conversation and I will have to check our your “S” Word!
Spending time with successful internet marketers this weekend and the one message they keep giving is have a system, follow the system, find a mentor and have fun. Great advice Lynn. We both seem to be into lists right now
Roberta Budvietas, recently posted..Stop Using these 10 Excuses
Follow the system, that is for sure Roberta! Appreciate you sharing that amongst those entrepreneurs. Sounds like you are at a wonderful event. And yes, the list is pretty effective because you can almost see the whole message at a glance. lol
Appreciate you stopping by and adding to the discussion.
Great tips, especially about not focusing on the shiny objects; I know how beg of a distraction they can be.
Yes, I agree PeggyLee those shiny objects can blur our focus for sure. But hey, we are only human right?! lol
Thanks for sharing your comments today.
All great advice, which begs the question. You have a written document that describes your business model with which to compare? You analyze your business model monthly (quarterly, as time progresses, annually after five years) to insure that you are capitalizing upon the niche(s) you’ve chosen?
Roy A. Ackerman, Ph.D., E.A. recently posted..When is a Seizure an Emergency?
Good questions Roy and that goes to show how important a ‘plan’ is to any business. Which in turn should help us to avoid these kinds of mistakes that I mention here. Appreciate your insight!