Wednesday, May 16, 2007

7 Ways to Avoid the Most Deadly Business Mistakes

1. Create a plan. This may sound like a statement of the obvious but far too many people go into business without one. You must have a plan or you will fail. That is a guarantee. If you fail to plan you plan to fail.

2. Set goals and write them down. This is essential. In addition to this you must also read your goals daily. Make your goals specific, clear and achievable. An unwritten goal is just a wish. If you need help figuring out what goals are realistic and achievable try asking someone who is already in the same business or one similar to yours.

3. Be realistic. Realize that it will take to be successful and be willing to do it at any and all costs. Have the mentality that quitting is not an option.

4. Set and keep a budget. It is imperative that you know how much money you can afford to spend on a monthly basis and that you do not spend more than this no matter what. It can be tempting to get carried away spending too much on advertising or other unnecessary items. In the beginning as long as you have business cards and a basic website that is really all you absolutely must have.

5. Get and stay organized. Disorganization makes running a business difficult for anyone. It is much easier to take the time in the beginning to do this and to make a commitment to stay that way. Everything is easier when you are well organized. Be willing to take the time to do this in the beginning and you will be glad you did.

6. Pick a few aspects of the business to focus on and concentrate on for the long-term. It is fine to experiment with many different ideas but trying to do everything or to be the best at everything is a recipe for disaster. It is much better to become great at two things than to be mediocre at five things.

7. Realize when you need to take a break or get help. Running a business is difficult and everyone needs a break or some assistance from time to time and that is ok.
1. Create a plan. This may sound like a statement of the obvious but far too many people go into business without one. You must have a plan or you will fail. That is a guarantee. If you fail to plan you plan to fail.

2. Set goals and write them down. This is essential. In addition to this you must also read your goals daily. Make your goals specific, clear and achievable. An unwritten goal is just a wish. If you need help figuring out what goals are realistic and achievable try asking someone who is already in the same business or one similar to yours.

3. Be realistic. Realize that it will take to be successful and be willing to do it at any and all costs. Have the mentality that quitting is not an option.

4. Set and keep a budget. It is imperative that you know how much money you can afford to spend on a monthly basis and that you do not spend more than this no matter what. It can be tempting to get carried away spending too much on advertising or other unnecessary items. In the beginning as long as you have business cards and a basic website that is really all you absolutely must have.

5. Get and stay organized. Disorganization makes running a business difficult for anyone. It is much easier to take the time in the beginning to do this and to make a commitment to stay that way. Everything is easier when you are well organized. Be willing to take the time to do this in the beginning and you will be glad you did.

6. Pick a few aspects of the business to focus on and concentrate on for the long-term. It is fine to experiment with many different ideas but trying to do everything or to be the best at everything is a recipe for disaster. It is much better to become great at two things than to be mediocre at five things.

7. Realize when you need to take a break or get help. Running a business is difficult and everyone needs a break or some assistance from time to time and that is ok.