Being an entrepreneur is a stressful job especially in this dynamic trending world, but at the same time, it can be of a rewarding path. You need some broad skills for your big ambitions and goals. In this article we will talk how most entrepreneurs can be short-sighted and make some few mistakes while thinking that they doing fine.
1. Expecting Success Right Away
High and unreasonable expectations do not work.
Success is not a one-step procedure. But even though, do not fall into the frustration void. You will need to keep your eyes on the prize with a lot of patience. But most important, your goals and objectives must be realistic and measurable. Some limitations should be avoided: having a low budget, not knowing what is currently happening in your target market, or what are the potential threats that might affect your business performance. While managing a small business, you can't be too naive or narrow-minded: it can backfire, resulting in money losses or your startup failure.
2. Doing Everything Yourself
Planning to do everything alone is bad news! Make a list of tasks and prioritize them, so you will be able to decide which of them you can delegate. It's great to get some outsourced help to attain your business goals in a planned and structured manner, without stressing yourself out. In Katra Marketing, we outsource accounting and also have some reliable people working with us on a consultancy basis. At the same time, we help startups in Jordan in writing their business and marketing plans, as well as planning social media activities to build awareness.
Start by growing your skilled team, and don't be in a hurry.
3. Dumping Your Passion for the Money
Let’s be real, everyone wants to make money, but consider this: success and passion are two sides of the same coin. If you are not passionate enough about your idea, the odds of your new company to fail are very high. And even if you are fine without the work passion, the feeling of satisfaction and accomplishment will always bother you. Watch how Guy Kawasaki explains entrepreneurship and how to avoid mistakes, he's awesome.
Don’t sell out your passion, it is priceless.
4. Not Being Compliant with the Market
Customer preferences are constantly changing. So, not being able to keep up in a dynamic environment will most certainly lead to unwanted outcomes. Make sure you always stay up to date with the market and build your product/service based on what is currently working. Check how Eric Ries, the inventor of The Lean Startup, talks about his approach and startup failures.
Learn from your failed outcomes and make sure you fix it in your next step.
5. Ignoring the Power of the Internet
One of the most common statements that are used by business owners is “My business is working, I don’t need the internet.” But how long would your business last without the Internet? If we are talking about Jordan, 79% of people own smartphones, 72% of Jordanians are using the Internet daily. You can't deny the statistics. Plus, online advertising is one of the cost-effective tools to promote your business website, why not use it?
Katra Marketing offers affordable marketing consultations for your startup or small business in Amman. We also have active training sessions in Jordan and the UAE, so you can work with our marketing expert, and prepare a great business plan for your industry. And you can always test your new website with our Free SEO offer, and then get a brief consultation regarding it.