1. Getting Wedded To
an Idea And Sticking With It Too Long
Don't marry a single
idea. Remember, ideas are the currency of
→
entrepreneurs.
Play with many ideas and see which ones bring money and success.
>>>
→
Value Innovation:
Yin-Yang Strategies
2. No Marketing Plan
A
marketing plan creates the kind of attention you need to get in front of the
right types of people, companies, etc. It is what attracts people to you! There
may be as many as 25 ways to market your business at no or low cost. A good
marketing plan implemented effectively, efficiently, elegantly and consistently,
will eliminate the need for "cold calls!"
→
Virtuoso
Marketing
3. Not Knowing Your
Customers
Changes in your
customers' preferences and your competitors' products and services can leave you
in the dust unless you get to
know your customers well,
what
they want now and will likely want in the future, what their
buying patterns
are, and how you can be a resource for them even if you don't have the right
products or services for them now!
→
Empathetic
Marketing
4. Ignoring Your Cash
Position
The world (aka
customers) doesn't respond to even superior products in the timeframe that you
think they should. You'll need plenty of cash to sustain yourself in the
meantime.
5. Ignoring Employees
Motivating,
coaching and managing your staff
is probably one of your toughest challenges as an entrepreneur/business owner
today! Without your patience,
persistence and "people
skills," your problems can multiply quickly. Morale, productivity
and
→
profits can easily be destroyed!
