Why did you decide to start your own business?
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Why did you decide to start your own business?
Learn New Skills Your original corporate job likely wanted you to do one thing exceptionally well—whether that’s headhunting, email marketing, sales, or product road mapping. When you start a business, you get to do it all. Over time, you’ll begin to delegate these responsibilities.
What mistakes do you think the entrepreneur made when developing this business?
6 Mistakes Every Entrepreneur Should Avoid
- Forgetting the Competition. Everyone has a competitor.
- Not Spending Enough Cash (or Spending Too Much)
- Making Hiring Decisions Based on Cost.
- Thinking It’s All On You.
- Putting Your Product First.
- Making Your Margins Too Small.
What mistakes do business owners make?
The 10 Biggest Mistakes Made by Small Business Owners
- Trying to Do It All.
- Not Being Forthright.
- Having No Clear Marketing Strategy.
- Cutting Prices.
- Having No ‘Rallying Point’
- Setting Unrealistic Financial Goals.
- Being All Business, All the Time.
- Being a Weak Leader.
Does owning your mistakes make you a powerful entrepreneur?
Your reputation is your business and while no one expects you to be perfect, everyone expects you to be honest. When the proverbial crud hits the fan, here are three ways that owning your mistake will make you a powerful entrepreneur in the long run and why:
Do what you love is a big business mistake?
“Do what you love” is a piece of business advice that’s been doled out ad nauseam. But for many people, it’s a big business mistake. The reality is there are a whole lot of people out there who love things they’re not good at. Bet you can name several you to know off hand. The person who thinks she’s a great cook — but isn’t.
Should you claim your mistakes when you make a mistake?
By being proactive about the problem and honestly claiming your errors, you’re actually very likely to endear your staff and customers to you even more. Everyone makes mistakes. Literally everyone. Odds are good as long as mistakes are not the norm for you, people will be appreciative and lenient when you come at them with honesty.
Is your new business going to be successful?
If your new business is going to be successful, you need to know what you’re actually selling and craft your unique selling proposition accordingly. Ninety-five percent of businesses will not make money when they first open and a large proportion of new businesses will not make significant money for years.