Things to Avoid While Starting a Business
So you finally got that golden dream of yours to start your own business. Everything's set in place, but you feel something's going up sooner or later. So to protect yourself from potential pitfalls and desperate actions, here are some things you have to avoid when starting a business.
Generally, there are 6 aversions to take notice of when starting a business, according to logomyway.com: getting rich quick, staffing, business plan, branding and marketing, autorun, and giving up.
Getting rich quick is a common problem for entrepreneurs, especially for the younger generation who so desperately need cash they’d do anything (read: anything) at all to get money. Getting rich quick isn’t a good route for a business, as business is a fickle thing to do. It must be nurtured and cared for. It must be grown akin to a plant, watered everyday and loved perennially. After all, all the hard work you’ve invested in the business could be altogether thrown out when you want that quick road. You’ll just wallow in self-pity should that go on.
Staffing is another tricky issue. There is that saying “It’s just business”. It’s got to be followed as correctly as possible. Just because your sister doesn’t have a job doesn’t really mean that you can warrant her entry into the business. You have to ask her to prove to you and to your employees that she is capable of it. Either do that or be accused of nepotism. That would deal a huge blow to your company if people would start talking things like that.
Branding and marketing are equally important tasks in the business. Just because your business is new doesn’t mean your logos and marketing campaigns should be cheap. In fact, just when your company is about to start, hire a professional graphic designer or find someone and pay him good money to give you a quality logo. Your marketing strategy must be in tune with the current trends. Since you’re just starting, just go with the flow at first then you blow up and expose your company to the highest level. Your marketing campaign may change but your branding doesn’t.
Autorun: A common misconception for starter businessmen is that businesses are autorun. That is a huge misconception that makes people lose their hope when their business is not working. You have to be at the top all the time.
Giving up is the worst thing to do. Remember, you dragged a lot of people in this. Think of your employees. Think of your investment. Don’t see it all wash away. Just don’t think of giving up.