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6 Common Entrepreneurial Mistakes

admin — Sun, 11 Jan 2009 13:16:30 +0000

6 Common Entrepreneurial Mistakes

internet marketing Articles from Moe Tamani, the SEO Services Consultant.

One of the most difficult lessons for entrepreneurs is that the strategies they used to start their businesses are drastically different from the strategies they need to use to maintain their successful businesses. Here are 6 mistakes frequently made by entrepreneurs and how to avoid them.

Too-High Expectations. There’s a big difference between setting goals that will require you to stretch yourself and goals that are simply unobtainable. While it is certainly noble and honorable to set lofty goals, expectations that are too high mean that you have set yourself up to fail. Additionally, if you set expectations for your business that are too high, you will spend far too much money in the process of reaching those expectations. And that’s money that could be put to good use in the quest to reach obtainable, reasonable goals.
Focusing on the Wrong Things. Some entrepreneurs are so focused on costs that they forget to take a step back and look at the big picture. Yes, you need to be vigilant about what you pay in startup costs, but you also need to remember that you simply can’t make great strides in your business unless you are willing to invest significant amounts of money. Be bold about your spending, keeping in mind that only big investments yield big payoffs.
Looking Only at the Short-Term. When you’re just starting off, it’s very tempting to jump at almost any opportunity to make money. But consistently focusing on short-term opportunities means that you’re not taking time to make strides towards your long-term business goals.
Keeping Up With Everyone Else. As a new business owner, you’ll probably be tempted to compare yourself to your competitors and copycat the strategies that are working for them. But just because their strategies work for them doesn’t mean they’ll work for you. The reality is that you can only see part of their overall business plan, not the whole thing, so it’s impossible for you to replicate the parts of the strategy that you can’t see. This is a huge waste of time and effort for you, so stop worrying about what everyone else is doing and start focusing on your own plan.
Wearing Too Many Hats. Some entrepreneurs are obsessed with doing everything themselves instead of building a team. But when you take on the entire responsibility yourself, you’re too busy doing the everyday tasks to dream the dreams and have the visions that are going to carry your company forward. Build a team and delegate tasks, giving yourself time to continuing creating your business.
Sacrificing Customer Service. This is one of the biggest mistakes an entrepreneur can make. If you’re so focused on the bottom line that you end up sacrificing a customer’s experience, you will negatively impact your future revenues in ways that you can’t even understand at the time. An unhappy customer won’t hesitate to talk about his experience with anyone who will listen.

And what to do if you’re making, or have made, one of these mistakes? Don’t worry. All is not lost. Just remember these three philosophies:

Recognize the opportunities that will pay off in the end. They should always be in line with your goals, priorities, and values.

Slow down. Just because an opportunity looks good on paper or when pitched to you by a slick talker, doesn’t mean it’s a good way to use your time. Any opportunity put before you should motivate you to do a cost analysis before jumping on board.

Strategically Plan. If you have a strategic plan in place, you’ll always be ready to make wise decisions when new opportunities come down the pike. If you don’t have a strategic plan, you’ll be more likely to jump at anything that looks profitable.

14 Olympic Lessons

admin — Fri, 26 Dec 2008 15:44:45 +0000

14 Olympic Lessons

internet marketing Articles from Moe Tamani, the SEO Services Consultant.

You would’ve had to have been living under a rock not to notice the beauty and the pageantry of the 2008 Olympics in Beijing. This particular Olympics was more widely covered by the media than any of the past Olympic Games, and there was plenty of scandal to boot. But what does that have to do with you, you ask? The Games offer a great model to small business owners and are full of examples that you can put to work right away.

Discipline. None of those Olympians could have done what they did without disciplined training regimens. They woke up each morning and recommitted themselves to doing whatever it took to make themselves better athletes.

Consistency. Olympians stand out from other athletes by virtue of the fact that they perform at a high level again and again and again. They practice until they can deliver a perfect performance every time. Do the same in your business and you’ll find success.

Get Back on the Horse. Never let defeat defeat you. When you fail, get back up and try again.

Be Part of a Team. Even athletes competing in individual sports need teams of support behind them. Make sure you have a whole team standing behind you and supporting you as you reach for your goals.

Listen to Yourself. Your inner self knows exactly what you need to do to become successful. So when the crowd gets louder, turn inward to hear what your inner voice has to say. Tune out everything else and let your inner voice guide you.

Details Make the Difference. Every athlete knows that details can make or break a performance. Stepping out just a few inches on a dismount can be the difference between a gold medal gymnastics performance and a silver medal performance. A minimal twist in the body can be the difference between a great dive and a disaster. You’ll only reach your goals when you pay attention to the details.

Give It Your Best. No matter what’s working against you, always give it your best. Give a performance you can be proud of and you’ll find yourself motivated to try again the next time.

Never Give Up. No matter how bleak things look or how tough things get, never give up on your dream. It may take years and years to finally realize your dream, but when you achieve your goals, those years will seem like minutes.

Make a Plan. Once you’ve made your game plan, stick with it.

There’s No Substitute for Strength. Mental, physical, and emotional strength are equally important when it comes to small business success.

Be Big-Hearted. Nothing is more inspiring than an athlete whose heart is in the game, who keeps going even when the chips are down, who shows the world that she loves what she does more than anything else in the world. The same is true in the world of small business. Have a big heart and show it to everyone.

Embrace Your Nerves. It’s perfectly natural to be scared to death when you start out on a new path. Don’t squelch the fear and the anxiety. Let them remind you just how much you care about what you’re doing.

Always Finish. You may be aware long before you reach the finish line that you’re going to come in last, but finish what you’ve started anyway. No one can take you seriously if you throw up your hands in the home stretch and bail out completely. But they will respect you all the more if you just keep going.

Show Them They’re Wrong. The time will come when you’ll hear something negative. Let that negativity fuel your fire to succeed and prove them wrong.

Take these Olympic lessons and apply them to your small business, and then rejoice in your own gold medal!

7 Ways to Connect with Success

admin — Fri, 14 Nov 2008 15:10:46 +0000

7 Ways to Connect with Success

internet marketing Articles from Moe Tamani, the SEO Services Consultant.

Any article about entrepreneurship includes advice to surround yourself with people who have been successful and learn from them. One of the biggest challenges, however, is finding those successful people and placing yourself under their tutelage. Here are 7 ways to do so:

1. Attend Events. Depending on the size of the city you live in, you may find it quite easy to find business events related to your product or service. Keep an eye out for them and attend whenever possible. Look for flyers at bookstores, libraries, and check out advertisements in the newspaper or other local publication. Many of these events are free to the public, which is an added bonus.

The events will not only be motivating to you, but they’ll also give you the chance to meet other people with interests similar to yours. There are excellent connections to be made if you keep your eyes and mind wide open.

2. Read, Read, Read. You may not be able to meet an entrepreneur in person, but have you tried reading his or her books? This is a great way to surround yourself with success, to be inspired, and to get motivated. But don’t stop with books. See if you can find snippets or interviews on YouTube.

3. Meet With Your Peers. One of the most difficult things about entrepreneurship is that it’s a lonely venture. More than anything you need a support system made up of other businesspeople who can help you get motivated and give you great ideas for your business. When you’re looking for a group to join, make sure you’re not the smartest one in the room. You want the chance to learn from other people. Also make sure that the group is structured and not just a free-for-all. If you can’t find a peer group in your local area, find one online to join.

4. Attend Conferences. Whatever your business, you can always find relevant conferences. Do your homework before you arrive and have good questions prepared for any keynote speakers that interest you. Be sure to talk to them before their presentations instead of after since that’s when everyone else will try to corner them and talk to them.

5. Help People Out. If you’re serious about connecting with someone whom you greatly admire and whom you believe will be able to help you out, find a way to help them out first. Keep up with their business using Google Alerts. Using the information you get from Google Alerts, think of offers you can make, ways you can help, or services you can provide. This will help them remember who you are and will make them more likely to help you out next time you need something.

6. Surf. The internet is full of great places to connect with others in your business and in your demographic. But remember that it will take some time for you to figure out whose advice to take and whose counsel to seek. So be patient as you weed out those who aren’t serious or successful while at the same time finding those who can help you out and hold you accountable for your business. Let your online community help you set goals, and then let them keep you accountable for your goals. Report your successes and failures and use the support you find to your advantage.

7. Keep Your Eyes and Your Mind Open. You are surrounded with people who can give you good advice and good help. You just have to be willing to see those people as resources. When you’re in tune with your needs and desires as a small business owner, you’ll be surprised by the opportunities that present themselves—some that you didn’t even know you were looking for!

Get connected with a community that can support you and help you! You’ll be glad you did!