As an online entrepreneur, you will most likely make your share of
bad decisions. You are not perfect and that’s perfectly normal, it's
part of the process and it makes us stronger.
As you dive into a new business, or any venture really, you basically have two tasks that trump nearly anything else:
Learn from your mistakes
Learn from the mistakes other people have made
It sounds simple but it's often overlooked as entrepreneurs tend to take the, "I'll do it my way"
attitude. If you are over that, and are interested in learning, here
are 5 business decisions you need to think twice before making:
Neglecting Your Business Model Sure,
you may have what you think represents an excellent idea and want to
get started right away. As a result, you may feel tempted to neglect
spending time on your business model and, instead, choose to launch
your project as soon as possible. That, however, is a huge mistake you
need to steer clear of, as it is easy to understand why a structure
built on a shaky foundation will not last.
Not Having The Right Priorities There
are more than a few tasks you can spend time on but that doesn’t mean
that each and every one of them is worth it, not by a long shot. The
day only has 24 hours and being selective is simply a must. Always have
the right priorities and act accordingly. Otherwise, you may end up
realizing that most time-consuming tasks were simply not worth it and,
of course, regret your decision down the road.
Not Having an Open Mind A
lot of folks think that just because something is working out for them
(a certain website promotion method, for example), they should stick
with it and not look into other options as well. It should come as no
surprise that, after that method stops performing well, the reality
check they will be facing will make them wish that they had been wiser.
Not Delegating Do
you really think that you should handle each and every insignificant
task yourself? That is never the way to go and such a way of thinking
is never recommended. At one point or another, you will simply not be
able to stay on top of everything and delegating, if done right, can
certainly work wonders.
Not Tracking Results Let
us, once again, take website promotion methods as an example. Since
there are virtually unlimited options to choose from, investing time or
money foolishly is something you cannot afford to do. As a result,
tracking results is simply a must because, in the end, it’s all a
matter of trial & error.
Always remember one word:
“investment”. Be it an investment of time or an investment of money,
you most definitely have to track results in order to identify what is
worth your time or money and what is not.
All in all, these 5
business mistakes should definitely be kept in mind. You’d be surprised
as to how many online entrepreneurs end up not being able to maximize
results because of them. Are you about to let that happen or did you
learn from their mistakes?
