“Being an entrepreneur is easy,” said no one ever. An entrepreneur is a difficult job and it is especially difficult if you are new to the game.
Inc.com recently published an article about “The 9 Biggest Mistakes New Entrepreneurs Make.”
1. Going With Your Gut Rather Than Trusting Experts
Sometimes going with your gut just feels right. But as a new entrepreneur you need validation from experts. Gaining feedback is the best way to learn how to make your product the best it can be.
2. A Slow Launch
You don’t want your business idea to fail because you had a slow launch. “Build out your most valuable product, release it, and see how people react to it. In the end, it’s important not to overbuild, because features alone don’t make start-ups successful.”
3. Not Knowing How To Take Feedback
You might hear things that you don’t like or didn’t foresee about your product. Don’t give up because you faced some criticism. Take the information and use it how you see fit.
4. Too Much Feedback Or Not Enough
It’s your product, your baby; you see your vision clearly while others may not. While, you want the advice of others, at times too much advice can be more hurtful then helpful. “As a rule of thumb, choose advisors for specific parts of your business, not the overall business.”
5. No Marketing
Strong online marketing is vital for every company today. If you want your product to sell, you need to market it.
6. Not Listening To Your Customers
Customer feedback about your product is the best way to gage what they like, don’t like and so on. It is just as valuable pre-launch as it is post-launch.
Money makes the world go round. It is important that you figure out your funding strategy early on in your development.
8. Networking, Networking, Networking
Every day you should be talking to industry insiders and or customers. Meeting the right people will give you access to countless opportunities.
9. Not Hiring The Right People
Hiring people is no simple task. You need to surround yourself with the right people. “Consider seeking out others who have different soft skills than you do. You need someone who can play devil’s advocate and help you find balance.”
Are you guilty of making any of these mistakes? Whether you are or are not, becoming a successful entrepreneur is all about learning and growing everyday to make you and your product better.
Read the full article here
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