Five Costly Mistakes I Made Before My Business Skyrocketed
Making mistakes is a part of the learning curve in almost any career, but especially when it comes to being an entrepreneur. You’re stepping out on your own, so it makes sense that you might have to learn it all on your own, too.
But I believe that you can learn from other people’s mistakes to save yourself from the agony of losing money and wasting your valuable time and energy.
Looking back over my entrepreneurial journey, I can pin point my top 5 mistakes easily. These mistakes – both big and small – cost me time, energy and money when I started my business. I want to save you from having to do things the hard way.
I invite you to learn from me to avoid my mistakes at all cost so that you may further your journey and increase your success!
1. Clarity on your niche
When I first started out, I didn’t think it was that important to figure out my niche.
Quite honestly, I felt like I was limiting myself if I narrowed it down to an ideal client market. I wanted to attract and serve everyone because I wanted to make a big impact. In my mind, a bigger market meant more clients which could only lead to a BIG impact.
Well, that backfired. In my effort to reach everyone I created mixed messaging that didn’t connect with anyone. As a result, I didn’t have consistent clients.
Since then I’ve dropped my ego, narrowed down my niche, and now hit consistent 5-figure months.
Targeting your niche doesn’t limit your business, it works to expand and grow your business by connecting with the “perfect for you” clients. Stop speaking to everyone; start speaking to your ideal clients.
2. Create irresistible packages.
I traded hours for dollars, which didn’t get me far. In fact, it drove me to overwhelm and burnout.
Deep down, I didn’t believe that anyone would buy my high-end packages!
I finally decided to change my money mindset, create high-end packages and believe there was more than enough ideal clients that would jump at the chance to pay for my services.
Whatever mindset shift you need to work through, you need to identify it, make the shift, and create high-end packages if you want your business to work.
3. Hire a business mentor.
Here’s what I told myself every time I thought about hiring a mentor:
- I can’t afford it
- I don’t really need the help because I have over 10 years of corporate business experience
Oh boy, was I WRONG.
Hiring a mentor who has walked the path to where I want to be has been life changing. I’ve made more money, I have more confidence, and I’ve made a bigger impact than ever before.
If you are serious about creating a kickass business, then hire a coach who can guide you every step of the way – your business will transform and you’ll thank yourself later.
4. Delegate early
I was stuck in a DIY mentality.
Part of this was not trusting someone else to take on the ownership or responsibility of the tasks. The other part was my efforts of trying to save money.
This cost me huge. I wasted countless hours on tasks that weren’t my zone of genius. My efforts of trying to save money actually ended up costing me because no longer had time for moneymaking activities, so I didn’t make money!
Hiring a team has created a freakin’ amazing flow and freed up so much of my time! Now I only focus on the big, money making activities.
If you’re stuck behind a screen trying to tackle tasks that frustrate the heck out of you, consider delegating now rather than waiting until later.
5. Employ sales funnels and multiple income streams
I kept doing 1:1 coaching for a long time because it was my comfort zone. But growth only happens when you get outside of your comfort zone, we both know that.
I really had to stretch myself to launch group programs and passive income products.
To have a sustainable business, I encourage you to seriously consider launching group programs, passive income products and sales funnels to promote and bring in consistent passive income.
If you’re struggling, frustrated or need support in any of these areas, then let’s set up a session! Not only do I work to provide you with a sound strategy, I also use EFT Tapping to work through your inner barriers. Your 2-in-1 solution is right here; let’s do this, baby!