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15 September 2006, 07:49
About usual mistakes
Again I apply to Steve Pavlina Blog and now to his article "10 Stupid Mistakes Made by the Newly Self-Employed".
Step by step you can explore you business and if you'll discover such mistakes - don't rush to quit your site but try to think WHY most of the newbays do the same things.
Look here:
1. Selling to the wrong people.
While sales are important to the survival of any business, you don’t need to push your business on everyone you meet, including friends and family. Furthermore, it’s a waste of time to try selling to people who simply don’t need what you’re offering...
2. Spending too much money.
Until you have a steady cashflow coming in, don’t spend your precious start-up cash unless it’s absolutely necessary.
3. Spending too little money.
It’s also a mistake to be too stingy with your cash. Don’t let frugality get in the way of efficiency. Take advantage of skilled contractors who can do certain tasks more efficiently than you can. Buy decent equipment when it’s clear you’ll get your money’s worth.
4. Putting on a fake front.
Many one-person businesses refer to themselves as “we.” That’s something a lot of new entrepreneurs do, but it isn’t necessary. There’s nothing wrong with a one-person business, especially today.
(In this blog we work together with members of our team and even very soon I'll prepare the short time ability to everybody put a free straight advertising link on their own business.
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So we say we. But if somebody wants to know if any part of our project is one-personed - I'll answer yes - MP3 downloads for example)
5. Assuming a signed contract will be honored.
A signed contract is just a piece of paper. What’s behind a signed contract is a relationship. If the relationship goes sour, the contract won’t save you. The purpose of a contract is to clearly define everyone’s roles and commitments. But it’s the relationship, not the paper, that ultimately enforces those commitments. When I understood this, I focused more on relationships and worried less about what was on paper, and my business deals went much more smoothly.
6. Going against your intuition.
Intuition is just as important in business as it is in other settings. You’d be amazed at how many gigantic corporate deals are green-lighted or red-lighted because of some CEO’s gut feeling. While you might think that logic is the language of business, that’s far from reality. If you base all your business deals on hard logic and ignore your intuition, most likely you’ll be in for a world of hurt.
7. Being too formal.
I’ll say it again. Business is built on relationships. In some settings a certain degree of formality is appropriate, but in most business situations being too formal only gets in the way. Business relationships work best when there’s a decent human-to-human connection behind them.
8. Sacrificing your personality quirks.
In the early years of running my games business, I took myself too seriously and assumed that I had to act “businesslike” … whatever that meant. Being self-employed was a weighty responsibility, and other people were counting on me. Sink or swim, right?..
If other people can’t handle your weirdness, too bad for them. Focus your energy on the people who can.
9. Failing to focus on value creation.
It’s easy to fall into the trap of thinking that the purpose of a business is to make money. But the real purpose of a business is to create value. While it’s possible to make money in the short run without creating much value, in the long run it’s unsustainable. Even criminal organizations have to create value for someone. When you know your business is just sucking value away from others without providing anything in return, it will erode your self-esteem, and the business won’t be much fun to run.
10. Failing to optimize.
Although value creation is essential to a sustainable business, it’s equally naive to assume you can simply focus on creating value, and the rest will take care of itself. You may build a business that provides good value but loses money. As a business owner, you need to find a way to deliver your value in a cost effective manner.
Read more in the original text.
I suppose that is because of nonuderstanding one simple thing.
If you start with a lot of energy to do something you wish to receive results as soon as possible.
But look carefully at the p.9 - CAREFULLY !
And try not only to create value but to make a good relations with your klients.
Today I can say that money are NOT in the information or some hightech, even NOT in ecology - BUT only in RELATIONS.
Best regards,
Yuriy
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