How to Avoid 5 Common Entrepreneurial Pitfalls

This article is written by BrightFire Expert, Michele Scism

Join us  on January 29, 2013 for Michele’s Interview on how to “Master Your Facebook Fan Page Strategy in 3 Easy Steps.”

Are you falling into these five common entrepreneurial traps?

If you’ve followed the online marketing world for a while, you’ll notice that some people seem to have a “charmed” business.  You know who I’m Pitfallstalking about. Those people who seem to effortlessly make money, they have a large team working with them, and their clients are singing their praises. How do they do it?

In my two years of coaching entrepreneurs to create 6-figure businesses (and building my business to 6 figures in just 2 years), I’ve learned that building a thriving business does NOT have to be a struggle, you just need to avoid some common pitfalls.

If you avoid 5 common pitfalls– your business will succeed.

Pitfall #1: Not Understanding your Unique Business Advantage and how it helps your customers.

So what is your business advantage? Well a lot of times you will hear people talking about finding your uniqueness. What is unique about you and your business? After working with so many entrepreneurs I realized that just knowing what makes you unique isn’t enough– as entrepreneurs we look at the list and think, “Well, that’s not unique.”

Not only do you need to make a list of what your unique talents, skills and experiences are,  you also have to have a feel for what your passion is because face it, business is hard and there are going to be times you want to give up, and if you aren’t passionate it is hard not to just give up.

Pitfall #2:  Putting all of your marketing channels into one channel.

My clients love to talk with me about marketing.  The issue I see more often than not, is that entrepreneurs think that all they have to do is “put a message out” and their ideal clients will flock to them. Believe me, I wish that were true.  But, sadly it isn’t.

Most people need 11 or 12 messages for something to sink in.  I’ve had clients tell me they bought a product simply because I reminded them so many times.

But, you can’t bombard people with the same message over and over again on the same channel (people call that spam!).  You can send messages on different channels (send an email, post on Facebook and Twitter, pin to Pinterest, etc.).  When people see you in different places, the message starts to sink in.

Pitfall #3:  Not knowing the segments of a sale.

When clients start selling they either go for the sale right away or they don’t want to sell at all.  What I’ve learned over the past two years is that there is a dance (or ritual) to a sales conversation (whether ita talke place over the phone, over email, or in a Facebook group).

Once you learn about the different parts of the sales process, you can lead your prospect from doubt to being excited aobut buying your product or being part of your program.

Pitfall #4: Not building a team.

One of the biggest pushbacks I get from clients is when I suggest that they create a team for their business.  The truth is that you can’t move from start up to the coveted growth phase without help.  Nobody is that good.

The objection that I get is usually financial.  You don’t need to spend a lot of money to get started with a team. There are ways to get help without spending a fortune.  I cover them more fully in my free Decide * Act * Profit video series.

Pitfall #5: Not leveraging your time.

Once you get your business going, you can put everything together to leverage your time so that you can do the work once and have it work for you again and again.  When you move to the leveraged phase, life gets much easier because you can work much less to make more money. In my Decide * Act * Profit videos, I show you the step-by-step process from moving from being primarily a service business to moving into the leveraged growth phase.

If you’d like to learn more about avoiding the common pitfalls in your business, take my 5-day video challenge, Decide, Act, Profit and watch the money grow in your pocket.

About Michele Scism

Michele is the leading authority on social media and online marketing and the founder of bothe DecisiveMinds.com and The Global Social Media Managers Association.  Her clients call her “The Results Lady” because, as a business strategist, she uses her signature “Take Action Get Profits” system to help entrepreneurs turn their passion into expert status and then profits.  Michele’s knowledge in the areas of online marketing and social media marketing have been recognized during recent interviews on several web TV shows, including being interviewed by Kristi Frank from Donald Trump’s The Apprentice, as well as multiple Talk radio shows and tele-classes.  Whether you want freedom and flexibility, more time to be with your family, more money, or the feeling of satisfaction you get from creating a successful business, Michele is there with her expert business knowledge, strategies and accountability skills to help you get the results of your dreams.

 

About Tiffany deSilva

Tiffany deSilva is the founder, CEO, and visionary leader of BrightFire Women’s Business Network, LLC.

BrightFire Women’s Business Network is the premiere sales training and coaching resource for service-based women entrepreneurs who want to increase their sales, serve more people, and change more lives.

Feedback & Comments:

  1. I particularly think the part about not understanding how to ask for sales is key. Good tips, all!

  2. We are lucky to have so many channels now to send out our message. A few years ago 12 messages would have raised a red flag with me, but with all of the outlets now, 12 is easy.

  3. Michele, as a business owner I relate to many of the tips you share here. This is great advice and I appreciate you sharing it with us.

  4. Great post! great tips! I really like that Michele addresses uniqueness and that you have to also have that passion!
    Trudy

  5. All these tips are so important to remember – especially diversifying your marketing avenues. It’s important to move beyond one or two ways to share your message.

  6. Gosh when I read through the list I have fallen into these myself at least once in my entrepreneurial journey – a great reminder!

  7. Great advice from Michele! I enjoyed your guest post choice Tiffany. As a business coach I also help my entrepreneurs with sales and all 5 pitfalls are spot on. I agree.

  8. It is so true that what makes you unique makes you money – if you don’t know your one thing – your uniqueness business advantage people wont know why they should buy from you rather than someone else.

  9. These five tips are excellent. Which would you rank as the number one tip of the five?

  10. Superb tips all the way around…

    I find that tips 4 & 5 are real business killers for many entrepreneurs. Just remember…that “thing” that you hate to do and takes you 5 hours to do because you procrastinate and aren’t very good at it can be knocked out in 20-30 minutes by a skilled team member who loves to do it!

    Phil Dyer
    Chief Visionary | Broughton Advisory
    http://www.broughtonadvisory.com

  11. I think point #1, about finding your Unique Biz Advantage, and how you help customers is key, especially when you have an audience-based business, as so many service providers have. So many times I see websites for service providers in an industry and they all read the same, and I have no idea why I should choose one over another. So, I guess the question we all need to ask ourselves is, “How can I help my target market/what can I offer my target market that is unique from everyone else out there doing something similar to me?”

  12. Putting all of your marketing into one channel is most definitely a mistake! Different people prefer to consume content in different ways. Those that prefer email, generally aren’t going to go to your blog. Those that read your blog, probably aren’t going to be paying close attention to your Facebook posts. Those that prefer social media, may not be on your email list. You’ve got to be diverse!

    Jennifer Bourn, Bourn Creative

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