Today I’m breaking down 3 mistakes new entrepreneurs make and how to avoid falling into these traps as you start your business.
Putting yourself out there as a business owner is one of the hardest things you can do, second only to actually learning everything it takes to put a business together from the ground up.
When I was starting my business I made tons of mistakes that I wouldn’t wish on anyone. And that’s why I want to share with you three mistakes that new business owners commonly make (I definitely did!) and how you can avoid them today so that you don’t suffer the same anxiety I did at not getting things just right the first time.
Mistakes New Entrepreneurs Make Number One: Not Knowing Your Worth
So many entrepreneurs start their business with the mentality “I have no experience” but the truth is any education or job you’ve previously completed or held is an applicable bit of experience that makes you qualified to work with clients 1:1.
Now I’m not saying you should start charging super high ticket without getting your feet wet first, but what I am saying is there’s absolutely no need to work for free or heavily discounted prices if that doesn’t align with who you are. Sure, it can be great for some experience but your time is valuable even when you’re starting out and starting relationships at the bottom end of the pay scale can be detrimental in the long run.
Try setting median rates for your industry and discounting when you feel it’s appropriate. That way your client always knows the value of the work.
Mistakes New Entrepreneurs Make Number Two: Being a Jill-of-all-Trades
The second mistake new entrepreneurs make is being a jill-of-all-trades that will take on any project that comes their way.
I’m not saying it’s impossible to be someone who’s resourceful and tech savvy and super good at lots of different systems and software. I am saying that it’s very difficult to stand out when you don’t have a specific focus, and much easier to find your people when you define exactly what you do and who you help.
In the beginning it’s totally okay to try on lots of different hats, to see what makes you happy and lights you up. In fact, it’s one of the coolest parts of being an entrepreneur. In the corporate or 9-5 jobs many of us left to start our own businesses there were very, very few opportunities to explore both our skillsets and our interests, so it makes sense that you’ll want to try out lots of new things now that you’re trying this out on your own.
That being said, focusing on one particular area — your own *zone of genus* if you will — will help you target the people who are best suited to needing your services, and allow you to speak to them in a language they understand and allows them to fully grasp the solution you provide.
Mistakes New Entrepreneurs Make Number Three: Waiting for Perfection
It might be cliche as all hell to use the phrase “perfection is the enemy of good enough” but I still say it all the damn time anyway. Just getting started is the biggest part of the battle. Yes you’ll make mistakes like these, yes you’ll look and feel silly sometimes, but you’ll also grow and gain experience with each step forward (or backward) that you take.
If you get stuck in the small details prior to launching, you’ll never get there. Simply put there is TOO MUCH to do for you to try to get it all correct before you take on your first client. In fact, there are just so many things you don’t know that you’ll have to dedicate to learning them along the way — and that’s okay, and it’s also what will allow you to charge more when you’ve honed your expertise.
It can be so easy to get stuck in analysis paralysis when we first start launching our businesses. To combat this all-too-common feeling, use a project management tool like Asana so that every day you know exactly what tasks you need to accomplish. Not everything has to happen at once, you’re allowed to take breaks and take your time, and using a project management tool with task lists and due dates will give you the structure you need to keep taking one step forward even when you feel stuck.
The Take Away
Starting a business is not an easy task, but it is so, so worth it when you finally make the money that’ll let you leave your corporate job, support your family, hit the road in a van, or whatever it is that’s driving you on this journey.
Starting October 1st, it’s not something you have to do alone anymore.If you like the way I explain things and know you need a helping hand to get your website and business off the ground don’t forget to sign up for the waitlist to Wandersoul Website Society – it’s a new membership launching for Q3 that is unlike anything you’ve been a part of before that breaks down the design and systems strategies I use with my own clients to help them streamline and scale WITHOUT working on the weekends. You in?