Ok...you have an idea, you know how it will look, who will buy it and how much it will cost, now it’s time to prepare for your launch, but...
After five years in this business and over 2 decades as side-hustlers, multi-level marketers and advisors to small business owners and non-profits, we have seen our share of mistakes and flat out RED FLAGS when launching a new business, product or service. We’ve always been good at two things: (1) Beta Testing (2) Learning from other people’s mistakes. And we’re going to help you do the same:
Here are the Top 3 Mistakes we see entrepreneurs make when launching + How to avoid them at all cost!
(1) Not spending enough money or spending it in the wrong place - we know you’re just starting out and you haven’t made any money yet, so you’re reluctant to spend “frivolously” on things you don’t (think) you need - BIG MISTAKE. The things you don't spend money on now, will cost you 10x more in the future. Now, i'm not saying that the $20k coaching program is the key to a successful launch, but I am saying that making the proper (smart) investments early will fast-track your business success. My general rule of thumb is to invest in marketing (which includes quality visual branding) and methods (appropriate systems to help your business run smoothly). If you spend right in these two areas, they will pay you back exponentially over time.
(2) Not setting attainable goals - we know, we know, we’re all in business to create our own paycheck and change the world; but what they don’t tell you is that that BIG PAYCHECK and BIG IDEA takes a carefully crafted action plan to achieve. The quickest way to lose steam in your business is to set unrealistic/unattainable goals. When you’re starting out with 200 followers, no leads, no systems and no team; it’s highly unlikely that you’ll crack the $1 million dollar mark in your first year of business. Assess where you are and set REALISTIC goals for your business, then create an action plan that includes specific tasks, milestones and accountability measures to help you along the way.
(3) Thinking you can do it all yourself - I know, I know, your superwo(man) and you have all the ideas and all the answers; but knowing what to do and executing in excellence is two totally different things. Knowing is only half the battle (provided that what you know is even right), executing is what really matters. Having a subject matter expert on your team will save you valuable time and money, plus it will help you get up and running faster. Remember, we’re not just in business to say we have a business, we want to grow and scale this idea into something sustainable and profitable. It’s ok to hire an expert to collaborate with you on bringing your ideas to life (refer to number 1), it’ll save you from lots of sleepless nights and burnout (*I know from experience*).
So you’ve read these things and you’re like “OMG THIS IS ME”, “what do I do”.... Welp, i'm glad you asked!
I’ll give you two options to help you skip these 3 mistakes: