Starting your own business? You're not the only one— there are nearly 28 million small businesses in the United States alone. In order to stand out in the crowd, you've got to get an edge on your competition. Start by avoiding these three mistakes that can tank your new enterprise.
Mistake 1: The Iron Grip
When you set out on your own, it can be tempting to hold on to every facet of your business with an iron grip. That's great for a while, but hanging on too tightly can actually stifle the business you're trying to build. Smart founders play to their strengths instead of bashing their heads against the proverbial wall.
Try to strike a balance between knowledge and micromanagement. If you find yourself bogged down in bookkeeping, stalling over management questions or frustrated by secretarial tasks like filing and mailings, ask yourself whether you can delegate these tasks to employees or trusted contractors. Your business will thank you for it once it's able to breathe again.
Mistake 2: The Lone Ranger
Does the word "solopreneur" mean anything to you? Often, entrepreneurs are too proud or too afraid to bring other people into their business. After all, working with a mentor or adviser might mean exposing the not-so-confident underside of a burgeoning business. That's a huge mistake—smart business people need support, and cutting yourself off from others can rob you and your business of vital perspective and resources.
If you're struggling to make it on your own, it may be time to look for friends, confidants or even a business coach who can listen to your concerns and offer personalized advice.
Mistake 3: The Shy Violet
You've been working hard on your business, so why aren't you talking about it? Many entrepreneurs are so focused on building successes that they forget to show them off. Failure to market is a big mistake, but marketing can seem daunting to busy entrepreneurs.
If it's time to toot your own horn, you're in luck. Use tools like SiteKit to help you showcase the business you've fought so hard to build.