1. Isolating Yourself
When setting up a business, you can get so overwhelmed with the administration that you don't focus on building up your network. Networks can provide a way to catapult your Business forward through referrals, joint ventures, or providing industry knowledge. networking does not need to be through formal events but can come in many forms. Even using websites to become aware of who and what is out there is useful. Giving time for self development and training activities to grow your skills, can be one area that is given a lower priority which can often lead to unwise decisions.
How may you take more time to mix with people who you think can contribute to your Business?
How may you increase the priority given to grow your skills?
2. Not Having an Overall marketing Strategy
Instead of developing a comprehensive plan that has been thought through and well researched, many entrepreneurs just dive in with a few good ideas, using a try and see approach. Often these ideas are not suited to your niche or Business type, or it is the wrong timing for the stage of growth you are at. Working from the start and considering what you offer and to whom, your branding, differentiation and positioning can all be crucial steps to work through for success.
Have you a comprehensive plan that is constantly reviewed and improved?
3. Not Sticking With a marketing Strategy
Many entrepreneurs try a few marketing strategies and when these strategies don't work in the first few weeks or months, it is assumed this is the wrong strategy and something else is tried. Often the strategies have not been tried for long enough to fully see the benefit, or for the entrepreneur to become skilled enough to make the strategy successful. Focusing on two key strategies to market your Business can really test whether these are right for you. Another mistake is to focus too much on passive marketing, such as websites, articles, ads, etc, and not enough on active marketing, such as presentations, workshops, networking, and referrals.
What percentage of time are you spending on passive and active marketing?
4. Not Leveraging Your Time
The trap that all entrepreneurs are faced with, once a business starts to grow, is that they can't do everything. Many will keep the business small rather than recruit help, outsource or delegate. Leveraging is one key to successful growth. This is a skill you need to learn to become comfortable with in order to grow your Business.
Are there tasks that you need to delegate to successfully grow your Business?
What sort of people do you need to turn to for assistance?
5. Not Generating a List of Leads
On beginning a Business, you are constantly meeting people. If a database is not started in some form, many of these contacts can be lost and the opportunity to market to them is wasted. Providing an opportunity for people to sign up to a regular newsletter can be a valuable tool to develop a relationship with prospects that may eventually be interested in buying your products or services. To g
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