Getting into business is no child’s play. So much work needs to be put in, not to mention the trials and errors that are an inevitable proponent in every entrepreneurs blueprint. Mistakes in Entrepreneuship are common, and for the most part, they are an essential part of growing and learning and a sign that you’ve taken the necessary leap and are staying the course. But be that as it may, it certainly helps to avoid making mistakes where you can, and some expert guidance on how best to maneuver the entrepreneurial ropes can save you a lot of time, money, resources…and distress. That is why we roped in Branding Guru, Brandbuilder Founder, Thembe Khumalo, for some expert insights on common mistakes entrepreneurs make that you definitely want to avoid. Having been in the industry for over 20 years and with a portfolio that spans across Africa, it’s safe to say, we are in good hands!
Working in isolation
First things first- the world is not an island! And the longer you stay alone with just you and your thoughts, the sooner entrepreneurship will drive you crazy!
The world has so many entrepreneurs who just need to hold hands and figure things out together. While the market is competitive, there is no harm with building relations with other entrepreneurs. This will help you with partnerships – after all, you can’t do everything by yourself. Networking is as good as breathing!
Avoiding social media
Surprise surprise! The fear of social media is very much real amongst entrepreneurs. The fear of putting yourself out there and the fear of criticism. Not only that but not being able to use social media well has many entrepreneurs fleeing in the other direction.
News Flash- social media is not the big bad wolf. In fact it’s probably just what your business needs. Consult an expert and learn more about how you can use social media to give your business a boost.
Half baked ideas
The story of many an entrepreneur – launching a half baked product without having thought it through.
Plan, plan, plan, plan!
Entrepreneurship is filled with many muddy patches. That’s just how it is. But what if you plan and have a fool-proof plan? Yes, there will always be drama, but what if you foresaw these problems and prepared plan b, c and d? Definitely makes life easier for you.
Don’t forget to get your unique selling point and value proposition nailed down to the last tee!
Not defining your audience
Look at it this way, a jack of all trades is a master of none. In the same way, selling to everyone may leave you selling to no one!!
Who is your clientele? Ofcourse you want the whole world but who exactly is your clientele and is spending money on you and your product?
Once you have a clearly defined audience, you are in a better position to meet their needs.
Not talking to your customers
All these digital tools to engage your brand and yet you still aren’t talking to your customers! Market research is important. Being in touch with your customers and their needs will help you meet them better. Survey Monkey and Google Forms are there to make life easier for you!
By: Thandi Nyoni