Article by Wesley Virgin
Many new entrepreneurs fail to avoid rookie mistakes when starting their first business. While it’s important to be passionate and eager to achieve success, you should also have an awareness of common missteps so you can avoid unfortunate setbacks that can kill your enthusiasm and put your business on ice. Here are three to watch out for.
Not having a business plan
A good business concept and a useful, well-designed product may not be enough to propel you to lasting business success. Without an achievable, practical, and perceptive business plan, you may find yourself losing steam, resources, and profits. Plan how to allocate your resources, set goals for improvement, and strategize about how to best market your business.
Not marketing online
Because of the Internet’s pervasiveness and the competitive nature of purchasing ads for television, radio, film, and print, any business that does not do online marketing is not maximizing its reach. Today, many people find businesses online through carefully targeted search engine and social media campaigns. Learn the ins and outs of SEO and Google Ads for an edge over your competition.
Not listening to customer feedback
While it’s important to believe in your product and service and its value, it can be deadly not to listen to concerns, feedback, and compliments from your customers. Your business will live or die based on customers’ feelings and attitudes towards your products. Making sure customers are happy is better than keeping your original idea or plan for your product or service.
About Wesley Virgin
Wesley Virgin is a serial entrepreneur with business ventures in the fields of investing, fitness, and more. Wesley Virgin is also an Army veteran and former computer engineer and personal trainer who is now the owner of WV Media.