Business Mistakes to Avoid
By Sharon Housley

Small businesses and entrepreneurs often repeat the same mistakes.� If you are an entrepreneur, the following is a list of critical mistakes to avoid in your new venture: �

1. Promising The World

Entrepreneurs will commonly make bold promises that are often impossible to actually deliver.� It is important that you stay grounded in reality, and only agree to things that you know you can actually deliver. �

2. Lack Of Discipline

Owning a business takes commitment and self-discipline.� Since you are the boss you probably won't be disciplined for things like not showing up for work on time... but such things will have a negative impact on your business.� It is important that entrepreneurs treat their business just like a real business, and not like a personal hobby.� Act professional, charge for your services, and be accountable for the product or service provided.� Self-discipline is critical to being self-employed. �

3. Lack Of Focus

Remain focused on your core business philosophy, and don't attempt to be everything to everyone.� Decide what your strengths and business focus are, and use that strength and focus to build the foundation for your core business.�� �

4. Doing It All

While most small business owners are jacks-of-all-trades, it is important to know your limits.� Do not try to do it all.� In many situations, it is much better to hire someone or outsource a project than attempt to reinvent the wheel or do something yourself that you are simply not qualified to do. � �

5. Undervaluing Product Or Service

Small businesses often make the mistake of undervaluing their product or service.� If an item or service is priced too inexpensively, it may be viewed to be of inferior quality. Conduct a cost analysis, and consider split-testing to find the appropriate price point for your product or service. � �

6. Hiring Family

It is natural for a small business owner to want to hire family members, but this is often a very costly mistake.� If you do hire family members, be sure to make it clear from the beginning that business is business.� Employment should not effect your personal relationships -- that is very easy to say, but unfortunately it often does effect your personal and family relationships.� Additionally, other employees may resent favoritism paid to a family member who is given priority.� And sadly, favoritism of a family member can often be perceived by other employees, even when it doesn't actually exist.� Think long and hard before venturing down this path. � �

7. Copying The Competition

Copying�the competition is certainly far easier to do than creating something new.� However, that does not mean that it is a good thing to do. � �

8. Tracking Advertising

It is important to track and measure the success or failure of any advertising campaigns.� If you do not track your advertising, you will not really know what works and what does not, and you could be throwing good money after bad. �

9. Not Having A Plan

It is important that you have goals, and a plan for your business.� Use the plan to guide the direction of your business. � �

10. Failure To Invest

You have to spend money in order to make money.� Many entrepreneurs fail to invest in their business, yet expect instant success.� Building a business takes time, effort, and both a personal and a financial investment. � �

11. Inability To Adapt

Many small businesses change over the years.� You must be willing to adapt to the changing needs of a business, and to the changing�needs of your customers, in order to survive in the the business world.� �

Launching a business is�an exciting and rewarding experience.� Just be careful to avoid the above pitfalls on your way to�success. � �

About the Author:
Sharon Housley manages marketing for FeedForAll http://www.feedforall.com software for creating, editing, publishing RSS feeds and podcasts. In addition Sharon manages marketing for RecordForAll http://www.recordforall.com audio recording and editing software.

**********************************************************

This article may be used freely in opt-in publications and websites, provided that the resource box is included and the links are active. A courtesy copy of the issue or a link to any online posting would be greatly appreciated send an email to sharon@notepage.net .

Additional articles available for publication available at http://www.small-business-software.net/free-website-content.htm

**********************************************************