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Top 5 Mistakes Most Entrepreneurs Make

So after years of stalling and giving up, you finally decided to step out on faith and start your business. Great! You’ve made up your mind that this is it.

But if you’re not careful, you’ll bump into the 5 mistakes most entrepreneurs make.

You know you ultimately want to leave your 9-5pm and it’s now or never. Again, this is great news.

But can I tell you something? This is only the beginning of your hurdle. Making the decision to become an entrepreneur is only the first leg of the race.

When my wife and I started our company, my biggest hurdle was learning how to grow a REAL business while not falling prey to the pitfalls that many entrepreneurs do. I mean if we really wanted to do this full time and leave our corporate positions, we had to figure out how this really worked. It took a lot of learning and a lot of effort but eventually, we were able to overcome many of the obstacles that cause an alarming amount of new businesses to fail within their first three years.

Since then, we’ve been able to identify the key areas many entrepreneurs struggle with and I want to help you break through them.

The journey of entrepreneurship does level out as you and your business grow and expand but there’s still the possibility of falling prey to the things I’ve outlined below, so make sure you read the full list.

Top 5 Mistakes Most Entrepreneurs Make

1. Fear of Failure

Of course you’re scared. You quit your job and invested ALL of your time, money and resources into your budding business or service. This is a normal reaction to the unknown.

BUT don’t let the fear of failure in your business stop you from giving it your all! Remember, the best way to overcome fear is to do the thing you’re afraid of anyway.

Are you uncomfortable with public speaking? Do it anyway. Afraid no one will want to buy your product or service? Keep pitching it anyway to those that will listen. Of course you’re scared but don’t let the fear paralyze you. Todd Bellemare said it best, courage is facing your fears.  Stupidity is fearing nothing.

2. Pursuing Perfection

I hate to break it to you but no matter how much you try or how much you prepare, your  business will never be perfect. You’ll have some areas that are working really well. You’ll have some areas that are doing okay and then you’ll have some areas below critical at times. But that’s okay.

Pursuing perfection in you business or life for that matter, will drive you crazy! Plus, if you’re always so focused on trying to cross every `t` and dot every `i`all the time, you won’t appreciate the things that are actually thriving in your business. If this is you, take a minute to count up all your wins and focus on that the next time you try to make everything perfect.

3. Paralysis by Analysis

Don’t let being a classic over thinker ruin your dreams of running your own business. Can I tell you something?

Don’t let your wishing get in the way of what you can make a reality. Success comes to those who dare to begin. So start today.

4. Offering Your Services to People Who Don’t Want It

You remember the “know-it-alls” from school? The folks you can’t tell nothing too? Well they exist in the business world too. These are not the people you want to spend your time trying to help.

Focus your business solutions on the people asking YOU for the answers to their questions. Turn your attention to your supporters and encouragers. Utilize your current customer base and ask them to refer you to other people. Then, GIVE THEM WHAT THEY’RE ASKING FOR. Create your services and products around the stuff you know they need because they already told you.

Mind blown…I know.

These are the people that will help your business start to grow.

5. Not Investing in yourself

My wife has this saying that we often use.

You’re the most important part of  your business because when you excel and grow, your business will do the same. There are tons of free resources out there but the down side to that is the limits they have.

Eventually, you’re going to have to pay some amount of money to get more out of the service or product you’re after. You may not be able to spend the kind of money you want on trainings, conferences and software now and that’s okay but don’t eliminate them from your to-do list.

Your business deserves the best boss YOU can be. If you believe in your vision and business, then take the time to invest now so you can gain later.

My wife and I have personally invested our time and money into the resources we needed to grow our business to this point.

We’ve never looked backed.

And no, they were not cheap!


These are some of my best explanations on the top five mistakes made in entrepreneurship. And take it from me, I know what you’re facing during these early stages.

With that being said, on a sheet of paper, pick which one of the mistakes above you had the most trouble with and write down three things that you’ll start doing now to avoid making that mistake again.

Also make sure you join our FREE Facebook group called Traffic, Sales & Profit with Lamar Tyler and grab your paperback copy of my book The Gatekeepers Are Gone: Hustle + Technology = Success for free when you just pay shipping and handling.

See you soon!

-Lamar

Lamar Tyler
 

Using his motto "The Gatekeepers Are Gone," Lamar, along with his wife Ronnie, has successfully leveraged social media to move the couple's website BlackandMarriedWithKids.com from a small personal blog to an international brand with over 500,000 Facebook fans. As a filmmaker Lamar directed and produced five full-length documentaries which deal with the challenges and triumphs of marriage in the black community and have been screened to sell-out crowds nationwide. Among the recognition received for his work, in 2012 Lamar, along with wife Ronnie was named one of Ebony Magazine's Power 100, a list of the top 100 movers and shakers in the black community for the second consecutive year. The list also includes President Barack Obama, Beyonce and Jay-Z and Tyler Perry among its ranks. In 2014 the couple was selected as finalists for Black Enterprise's Family Business of the Year and in 2015 were selected as finalists for the Infusionsoft Small Business ICON award.

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lchwriter@gmail.com - May 17, 2016

I made all five of these mistakes. Fear was a big issue for me and I still struggle with it. However with most mistakes you hope to learn from them and I have.

1. Fear of failure – Remember your why. It will help you move past the fear

2.Pursuing Perfection – Perfection will stop you from moving forward. It will never be perfect, just put it out there and make corrections later.

3.Paralysis by Analysis – Analysis after you launch. Just do it.

4. Offering Your Services to People Who Don’t Want It – Everybody isn’t your customer. I tell my clients this all the time. Find your niche.

5. Not Investing in yourself – Once I stopped thinking I couldn’t afford it, I saw a big change in my business. I bought systems I needed, I got a coach.

Thanks for this Lamar, great reminder for where I’ve come from. I’m sharing this in my community.

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Vernel Edwards - July 6, 2016

I agree.

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