7 Deadly Mistakes You Should Avoid Before Establishing A Business

Happy new month to all my readers, my fellow bloggers also to my spammers! wishing you all a fruitful and prosperous month. May all your wishes be granted(Amen). More traffic, sales, customers and earnings to you all! thanks.

Now let’s get back to business

Most business falls out of the business world due to lack of one thing or the other. It hurts to see a business falling out so quick without achieving its aim. Am sure every one of you would love to build a business that will profit you and not a business that will serve as loss to you.

In the business world, silly mistakes do occur and which can lead to destruction of a business if care is not taken. In this post I will be talking about the deadly mistakes you need to avoid before establishing a business and if you have started a business you can still read on, all you need to do is just check where your errors lies.

Deadly Mistakes You Should Avoid!

Unstructured Business Plan: It’s always good to have a business plan before establishing a business, rather than starting a business you don’t have a structured business plan for. It’s just as if you are jumping into a deep pit. So before starting any business try and have a structured business plan, a structured business plan serves as a foundation to your business success.

Impatience: As you all know that “Rome Was Not Built In A Day” likewise other big businesses that you know about. They all started from the scratch, you have to put on the spirit of patience, and you don’t just rush into any business, you just have to cool down and think before taking action. Take time and strategize on how you will beat your competitors hands down so that when you get on board they won’t have the guts to challenge you.

Not Passionate: Am sure most of you might have heard or come across the word “PASSION” , You must be passionate in anything you want to engage yourself in. don’t take this for granted, try and figure out what you are passionate about, don’t just jump. Because failure to have passion for what you are doing will lead to destruction. Try and have passion for the type of business you want to establish, passion will help you break new grounds.

Not Having The Right Mentor: Seek for the right business mentor, failure to seek for the right business mentor can lead to destruction of your business, because when you are facing some problems and you don’t know who to seek help from am sure you will feel like giving up that’s why you need a business mentor so as not to give up easily. A business mentor will serve as a counselor to you. Check out my post on How To Seek For The Right Business Mentor. Be careful when you want to choose a business mentor or a coach because failure to have the right support can lead to liquidation of business.

Imitation: Avoid imitations, I mean you should never imitate. Imitating your colleague will kill your business, because you saw a friend of yours doing pretty well in a business and you think that’s the kind of business you should engage yourself in, I bet you are loosing it. Let me ask you a question , if you want to venture into the same business your colleague is doing, do you know the strategy he or she is using that makes him or her become successful? Am sure you don’t know and if at all you know, do you think the same strategy that works for him or her will work for you? No I don’t think so. Why not plan your own and venture in a business that will suit you.

Promoting Error: before establishing a business, plan a go getta promotion strategy that will make your business grow rapidly, because promotion is vital to every business, also if you don’t have a good and effective promoting techniques your business will fall. Try and look into this aspect before establishing a business.

Not Self Motivated: You must be self motivated because there are times where business trend will be slow and you might feel like giving up, which is not meant to be. No one knows tomorrow; believe in yourself so that you can go places. Lack of self motivation will make you put on the quit nature and it will lead to liquidation of business so i urge you to have the motivational skill before establishing a business.

Speak Your Mind!

What other mistakes do you think an entrepreneur must avoid before establishing a business? Feel free to comment below and if you love this post, why not share it with your friends also don’t forget to subscribe to our Rss Feed or subscribe by using the Email subcription box by the top right hand side on the sidebar. Thanks.

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