As an entrepreneur, you will surely put your best foot forward when it comes to maximizing the growth of your company and ensuring its overall success. Right from customer relations to marketing and employee engagement to sales strategies, you will need to keep everything well-aligned. When an entrepreneur works, the chances of mistakes are always there, after all, business owners are also humans. However, when you know what is blocking your company’s progression and growth, you can prevent making such mistakes.
To help you know the same, Jignesh Barasara – a well-known and successful entrepreneur in the country pinpointed the following mistakes that business owners tend to make. Take a look:
- Mistake
1: No utilizing marketing tactics with the right yet the data-driven
mindset
No matter whether you have a small business or a bigger one, every venture needs solid marketing plans to compete in the present market effectively and strongly. Right from email marketing to social media marketing and search engine optimization to content marketing, the areas are wide. And to make your marketing plans super impressive and reach out to your targeted audience, you will need a data-driven mindset.
According to Jignesh Barasara, new businesses often make a mistake by not evaluating the data properly. They think that if they spend more time on examinations, they will lose something important. Instead, the more you analyze, the better and clearer picture of the market, targeted audience, expected budget, and so on. Lastly, you must check what tactics will go well with your business and its precise needs to attain the highest milestone.
- Mistake
2: Lack of a mentor
If you are new to entrepreneurship, then you will come across some issues and find yourself clueless. This is the point where you will feel the importance of having the right mentor. Since these professionals have already gone through the same and know what the best way to deal with a certain situation is, they will guide you better. What if you do not have any mentor? When you are new, you may make tons of mistakes. And some of these mistakes can lead to big losses. For example, when you do not know how much you should spend on Facebook marketing, you will end up spending more than expected. This will not only affect your budget but it is not the right way to run a business.
- Mistake
3: Not having the right workplace culture
Many new and budding entrepreneurs think that they do not need any workplace policy, rules, and culture because they have a small team. For initial years, this can be accepted but when you grow, this approach will create a lot of problems – Jignesh Barasara. Therefore, you are advised to have a culture that can encourage innovation and growth. In addition to this, you should also make your team members feel supported, heard, valued, and motivated. When this happens, your team members will follow the rules without being annoyed or discouraged.
- Mistake
4: Constantly keeping not suitable employees
You may hire people who look perfect for a certain role but as soon as you board them, you find them unreliable and unfit for the position. When you do this, you will need to be prepared for project delays, financial losses, and so on. Yes, it can be a little weird to remove someone from the team, but ultimately you will need to think about your business, its growth, and the people working hard for its progression.
Final thoughts
As Jignesh Barasara says – as an entrepreneur, you should do everything helpful and useful for your business and its success. However, you must be careful and avoid the mistakes that we have listed above. By doing so, you will be able to ensure that your venture has a successful, stable, and bright future.
