This is for all of my business owners or aspiring business owners. I have made SO MANY mistakes, some of which you have witnessed. I want to expose some business mistakes so that you can learn and avoid the path of my errors.
1. VIEWING FAILURE INCORRECTLY: Failure is feedback
We have gifts, skills and talents deposited from God yet we don't serve Him or the world because we allow fear to trap us. FEAR really is a symptom of several root issues, including rejection and pride, but that's another story. But what are we afraid of? For many of us, we fear failure.
Failure of time invested.
Failure of emotional capacity invested.
Failure of money invested.
But what if I told you that you have the POWER to change your PERSPECTIVE around "failure". Allow the failures to expose vulnerabilities in your business. View it as feedback where you are impaired and areas where your business is weak. Failure and mistakes provide feedback and insights that can prove to be beneficial IF WE CHOSE to learn from them. We get to tightened up our processes and see where we can be better.
Solution: Build up the courage to not internalize the perceived embarrassment from failure. (COUGH: PRIDE) Realize that God holds time in His hands and that "failure" can be an immeasurable lesson learned. Like our internet cousin "Evelyn From The Internet" says, do not be afraid to be seen trying.
2. NOT COUNTING THE COST
"For which one of you, when he wants to build a tower, does not first sit down and calculate the cost to see if he has enough to complete it?-Luke 14:28
Bite off what you CAN chew. There are instances that are out of your control. And there are times we commit to things we should not have. Do not take on what you cannot confidently and with integrity produce/deliver. As for me, I may WANT to offer shirts in four colors, but the way my one bedroom apartment is set up, it just aint happening. You may want to make $50,000 in sales, but reverse engineer what is REQUIRED to successfully execute that goal.
Solution: Know what is needed to execute SUCCESSFULLY. Work backwards FROM your goal to map out what is actually needed to execute.
3. NO BUSINESS STRUCTURE
You've probably heard about the importance of systems. But before you can create effective systems, you have to sit down and map out EVERY part of your processes. but it s about what do planners represent: accountability. I'm not suggesting rigidity or not allow God to "interrupt" your flow. Structure provide the foundation for you to evaluate and grow.
Solution: Bring order to your business with schedules and processes.
4. TAKING TOO LONG TO MAKE NECESSARY INVESTMENTS
Who has some rich auntie handing out checks to help you grow your business. Not I. You have to invest in your business, especially when you "feel" like you cannot afford to do so. Taking calculated risks is just the nature of being in business.
Solution: Scared money DOES make money. Pray for discernment and wisdom. Ask for testimonials when unsure who and want to invest in for your business.
Overthinking is such a waste of time. The longer it takes you to make a decision robs you of precious time and money.
Solution: Challenge WHY you are overthinking a decision so that you can remove that stumbling block and get to executing. Ask God for the courage, discernment and wisdom to be decisive.
6. NOT BEING VIGILANT OF HOLES AND GAPS
In retail and hospitality, we call service recovery the ability to recover from a disruption in the customer's experience. You can GET AHEAD of recovery by knowing where your leaks are and FILLING THEM. Before you publish an offer or send out a product, be sure you have tested EVERY ASPECT of it.
Solution: Walk through the website journey from your customer's perspective. Are there any broken links. In regards to a product, make sure you have tested the performance quality short and long term.
7. POOR CUSTOMER SERVICE
You will disappoint, or even upset your customer, with things within your control and those outside of your control.
Solution: Have effective communication. Anticipate errors before they occur and OVER communicate when appropriate. Do what is right by your customers. Without them, there is no you.
8. NOT BEING FLEXIBLE
Things outside of your control may happen. Somethings are straight up wack. Take a deep breath. You have to be okay with agility, meaning LEARNING how to pivot.
Solution: Develop your mission statement for your brand and be WILLING to readjust when necessary.
9. BEING SUPERWOMAN
It's hard to be consistent when you are a member of team wearing all the hats. DO THE MOST within your zone of genius. DO THE MOST with your current measure of mental capacity. Know your superpower, bite off what you can chew and when you can, prioritize rest, kill your pride and get the help you need.
Solution: Let's make asking and paying for help great again.
10. NOT KNOWING WHAT KIND OF BUSINESS I WANT
We are at the end of a year and a lot of are are envisioning what 2021 should look like. Rightfully so. I also want to challenge you to consider the mistake of NOT deciding what business you want to have and the position you play in your business.
Solution: We learn what no longer serves us unfortunately by experience or by from Look at your business model and tasks and figure out what aspects spark joy.
I read this quote recently and it hit me right in my gut. I did the best I could with my level of awareness. -Dr. Nicole LePera. Hopefully this post empowers and encourages you to give yourself grace for the mistakes you’ve made and will make. Mistakes do not have to be fatal. Being a small business owner is truly about staying resilient, flexible and learning as you know and grow.
QUESTION: What mistake of mine will you not make? What are some mistakes you have learned from?