Mistakes to Avoid When Launching a New Business

Here are some of the key mistakes to avoid when building a new business

1) Not building a business that you enjoy

  • When you love it, it will be easier to maintain momentum
  • Its easy to get burned-out when you don’t love your business

2) Not using a proven business model

  • Don’t ‘reinvent the wheel’, especially when you are new to business
  • Use a model that was already proven if you want to generate profit

3) Not building a business that others can run

  • Don’t make yourself an irreplaceable part of your business (its a ‘job’ not a business)
  • Think long-term – build a business that others can run in the future, without your involvement

4) Not growing your business rapidly

  • To grow quickly – focus on ‘money-making activities’ which are: product improvement and marketing
  • Dedicate half of the time to work on these ‘money-making activities’

5) Using the wrong type of marketing

  • Most marketing is a waste of money!
  • Don’t copy what ‘big’ companies are doing
  • Instead, focus on ‘direct-response marketing’, so you can measure results right away

6) Not testing headlines & subject lines

  • The most powerful tools you have to grow your business are the words you use when communicating
  • A small change in wording can sometimes double responses (which can double sales!)
  • Always test first – then automate and build into your system

7) Not installing automated lead-generations systems

  • Automate as much of your business as possible – to free up your time for other things
  • Use and leverage automation tools (like Ontraport.com) to reuse your marketing messages

8) Not communicating with your customers often enough

  • You can’t ‘over communicate’ with customers – as long as the communication is valuable
  • Customers live in a “different reality” from us – and most of them are in the education phase
  • Communicate with your list at least 2-3 times per week with valuable, educational content

9) Not offering multiple products, services & prices

  • Some of your customers have a lot more money than others, and want additional products and services
  • Make sure to offer several products at several price points (for different customer types)
  • For example: During your sale, if you offer an ‘upsell’, its not uncommon to see 20-40% of additional sales

10) Not managing your time and productivity effectively

  • Time is money
  • We got very little time to waste on things that don’t get results
  • Develop strong productivity skills!

11) Not taking enough time off to rejuvenate

  • “Your business should give you more life – not take your life from you” – Michael Gerber
  • Schedule time off to relax and rejuvenate, and make sure you ‘totally unplug’ when you do (seriously!)

12) Not growing and continually educating yourself

  • Winners in business never stop educating themselves
  • Focus on key areas to learn in business: productivity, marketing, product development
  • You will have new ‘roles’ at each phase of your business’ growth – use these as opportunities to learn


Focus on Progress, NOT Perfection

  • Break down the progress into bite chunks
  • Take small steps each day (instead of huge steps) – build a daily habit