5 mistakes that I have made as a business owner.

Quite often you hear about overnight successes. Being a business owner is easy. Things are so obvious and no-one ever makes mistakes. Well, you have heard the analogy of the duck, and the perspective above and below the waterline.

Being a successful business owner is so subjective.

Are you there to make money, provide a service, put something back into the community or use it to springboard other projects? Whatever it is, we all have our reasons.

There is a statistic that says something along the lines that 60% of all businesses that startup, close their doors within the first two years. The reason being that things are subjective. There is no one right answer, otherwise, there would not be any business failure.
Now, the first thing to admit is that it is ok to make mistakes. You just need to learn from them.

So without further ado, here is a list of my mistakes: This is not an exhaustive list! I have to leave something out to write about next time.

1. Not fully understanding who my buyer is: I had a basic idea but never really delved deeply into the fine detail.
Solution: - Create an avatar of your customer. Who is it? -  age, income, race, geography, buying habits etc.

2. Who is actually going to pay for my products:  I thought I knew this one but applied a broad brush approach to this and did not hone my message.
Solution: - Create specific posts on social media and reach out to my specific audience(s). Messages to parents, children, and businesses.

3.What my products are about. I listed the key factors of my products.
Solution – Instead of providing key factors, highlight the key benefits and the before and after of using my products.

4.Going to conferences: Thinking on the surface that I should attend a conference. I attended one conference where there was very little networking and the attendees were not my customers.
Solution: When attending conferences, work out who is there, what the atmosphere is going to be like and whether these are truly your customers. Go on forums on LinkedIn and other sites where attendees are likely to be and ask them what the previous year’s conference was like and who should be going. You will soon get an idea on whether you will get a good ROI.

5.Social media: It is easy to put up an Instagram or Twitter post.
Solution: Create a call to action for these posts which gives you a better chance of converting visitors to sales. Tell people what you want them to do.

Keep checking in with me to see how my journey evolves and check out my latest products. at www.cashcrunchgames.com play our online game and see how your money habits stack up. This is my call to action (one of the lessons that I recently learned).