The 6 Biggest Mistakes I Have Made In My Business
As an entrepreneur, I’ve probably made hundreds of mistakes in the last decade, however, today I’m sharing my top 6 with you.
You can listen to this as a podcast here:
If you wait until you’re ready, you will never be ready. One of the biggest ways an entrepreneur can sabotage progress is by paying too much attention to detail and then ultimately not getting anything done.
I’m guilty of expecting the highest standard of excellence before hitting publish or send or “launch” and it wastes a lot of time when you keep second-guessing yourself.
2. Not asking for help
There is no shame in asking for help if you need it. Not knowing how to do something or how to approach a situation does not make you weak, it makes you human.
I’m guilty of not asking for help until I was really struggling. Seeking the right kind of high-level mentorship ensured the foundational success of my business.
3. Not offering higher priced products
We had success selling a $9 product (The Ancient Manifesting Ritual) as part of our first effectively launched sales funnel and we generated over a million dollars in sales, just from this. What would have been super sweet is having a quality upsell – a higher-priced product. We’re only JUST getting to this now, nearly 5 years into our business.
I’m guilty of staying safe in my comfort zone.
4. Putting all of your eggs in one basket
As a business, it’s important to diversify the way you spend your advertising budget. There is a lot of upheaval going on right now on various (naming no names) social media platforms. You can get your livelihood and ad accounts shut down in a heartbeat if you make a wrong move.
The moral? Don’t put all of your eggs in one basket.
I’m guilty of spending millions of dollars on FB ads and continuing to do this, even when we haven’t seen amazing results. My key prediction is that Apple Podcasts and Clubhouse are the two next giants waiting for entrepreneurs to make their move.
Follow me on Clubhouse if you are on there: @sarahprout
5. Underestimating the time it takes to do something
Always overestimate the time it will take to complete a project so you can avoid experiencing tension within your business.
I’m guilty of saying something will take 2 hours and it ends up taking 18 or more.
It’s often said that comparison is the theif of joy. Don’t compare your success, your results, your experience to someone elses.
I’m guilty of my joy being stolen by falling into this trap. When you compare, you lose and dishonor what makes you unique.