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3 Common Mistakes People Make When Starting A Business - Business - Nairaland

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3 Common Mistakes People Make When Starting A Business by Brooke60(f): 11:08am On Oct 15, 2019
I believe at one time or another we have all been guilty of making mistakes when we are first starting out. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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However, there are some mistakes that will keep us from growing and attracting our ideal client.
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Here are 3 common mistakes people make when starting a business:⠀⠀⠀⠀⠀⠀⠀⠀⠀
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1. They start a business only because they see what others do and they think they can copy it.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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2. They spend too much time learning a new business instead of using skills they already have.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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3. They scale too quickly because of the "shiny object" syndrome.

22 Likes 4 Shares

Re: 3 Common Mistakes People Make When Starting A Business by Valwezzy(f): 2:18pm On Oct 15, 2019
Chineke nna! shocked cool
My landlord just promise to give me free land where i can build a factory and startup my own business after showing him this post.

May God bless you OP.

70 Likes 11 Shares

Re: 3 Common Mistakes People Make When Starting A Business by benitdavid: 2:18pm On Oct 15, 2019
smiley
Re: 3 Common Mistakes People Make When Starting A Business by Kendumazy(m): 2:19pm On Oct 15, 2019
Ok
Re: 3 Common Mistakes People Make When Starting A Business by Citytrend: 2:19pm On Oct 15, 2019
I can almost guarantee this not a copy and paste Article. When you see Original Article you you know. nice one Keep up Op

Anyway, l will Build a Professional Logo for your Product or Company For 2k Only. Offer valid today only. See my info below in Red Letters to Chat me up. Pay On Delivery

18 Likes 1 Share

Re: 3 Common Mistakes People Make When Starting A Business by warlord24(m): 2:19pm On Oct 15, 2019
d

1 Like 2 Shares

Re: 3 Common Mistakes People Make When Starting A Business by Nobody: 2:19pm On Oct 15, 2019
I think the most common mistake people make is when you don't factor in consumers of your product... You cannot hawk pap(corn) by 11am - 12pm and except to make breakthrough.
Or sell pork meat in a Muslim dominated area and expect to breakthrough.

Another one is marketing...how would you market your product to outshine your competitors...some firms map out millions for this , currently in my little mechanic workshop I am mapping out 150 - 200k for marketing this season grin grin grin
Slowly we will get there

82 Likes 5 Shares

Re: 3 Common Mistakes People Make When Starting A Business by GeoAfrikana(m): 2:20pm On Oct 15, 2019
Another common error is having an undefined or poorly defined niche.

What do I mean?

Lemme explain with a few examples. Let's say you're a graphics designer. There are so many things that people design. And there are so many types of people who design.

It's necessary for you to pinpoint the exact type of things you design and the exact type of people you design for. So instead of saying I'm a graphics designer, you may say I'm a graphics designer who specializes in small business branding or in cartoon graphics. Etc.

The same thing applies to web designers. The person who designed my website specializes in helping freelancers and small businesses design.

Now, to me. GeoAfrikana Spatial Solutions is a GIS company. But there are many applications of GIS. At GeoAfrikana, our targets are academic researchers.

This doesn't mean that I can't solve the GIS problems that aren't related to academic research but it helps me focus my marketing energy and helps me define my buyer persona.

As your business, skills and experience grows you can start adding more niches and personas to you list. But start with something specific then improve with time.

I hope you get the gist.

21 Likes 2 Shares

Re: 3 Common Mistakes People Make When Starting A Business by Deola2020: 2:20pm On Oct 15, 2019
Which of the mods pushed this thing to the front-page,come out now!!!!

2 Likes 1 Share

Re: 3 Common Mistakes People Make When Starting A Business by kelvine(m): 2:21pm On Oct 15, 2019
4. They rent shop in a wrong location under a bad landlord.

31 Likes 1 Share

Re: 3 Common Mistakes People Make When Starting A Business by lyriclekidd(m): 2:21pm On Oct 15, 2019
Okay

Re: 3 Common Mistakes People Make When Starting A Business by iHart(m): 2:22pm On Oct 15, 2019
No 2 is not a mistake
Re: 3 Common Mistakes People Make When Starting A Business by Daviddson(m): 2:22pm On Oct 15, 2019
Number 4. They spend all they currently have to set up the business and therefore put themselves under the pressure to start raking in returns.

Shout-out to Seun for the changes we've been seeing on Nairaland recently. Please we need hashtag, @username and the feature to block people from following you. Someone has been opening tens of accounts every week and trolling people.

16 Likes 4 Shares

Re: 3 Common Mistakes People Make When Starting A Business by FredasMumAndI: 2:22pm On Oct 15, 2019
You did not expantiate na

2 Likes 1 Share

Re: 3 Common Mistakes People Make When Starting A Business by whitering: 2:23pm On Oct 15, 2019
My own problem is that some hacked into my nairaland account using a laptop. I got a mail from nairaland notifying me of the login. What are they looking for? How can I stop it from happening again.

1 Like 2 Shares

Re: 3 Common Mistakes People Make When Starting A Business by Nobody: 2:23pm On Oct 15, 2019
K
Re: 3 Common Mistakes People Make When Starting A Business by PureGoldh(m): 2:24pm On Oct 15, 2019
Nice write-up... Kudos to the OP

Meanwhile... If you need Pure Original Unadulterated Honey
whatsapp or call 0 81 0166 67 71

1 Like

Re: 3 Common Mistakes People Make When Starting A Business by Nobody: 2:25pm On Oct 15, 2019
Number 1 for me but it ain't no mistake.
Re: 3 Common Mistakes People Make When Starting A Business by cheelrix: 2:30pm On Oct 15, 2019

1 Like 1 Share

Re: 3 Common Mistakes People Make When Starting A Business by chukzyfcbb: 2:31pm On Oct 15, 2019
You missed the most important thing

No1 mistake is thinking about the profit and how to make gains instead of focusing on the problem that the business intends to solve, that's our major problem.

8 Likes 2 Shares

Re: 3 Common Mistakes People Make When Starting A Business by Nobody: 2:31pm On Oct 15, 2019
The only business that your mistake can fetch you money is NIGERIA POLITICS.

our politicians have failed and made mistake in so many ways and yet they become even richer.

The business(NIGERIA POLITICS) is not hard to join if you want to join,
you don't even need a degree infact even though you don't have birth certificate you will still enter the business
So don't worry about certificates.

5 Likes

Re: 3 Common Mistakes People Make When Starting A Business by chukzyfcbb: 2:33pm On Oct 15, 2019
whitering:
My own problem is that some hacked into my nairaland account using a laptop. I got a mail from nairaland notifying me of the login. What are they looking for? How can I stop it from happening again.
Change your nairaland password

Update your antivirus and scan your PC, it may be nairaland this time, tomorrow it could be your Gmail and then your online banking details

1 Like

Re: 3 Common Mistakes People Make When Starting A Business by Nobody: 2:37pm On Oct 15, 2019
Brooke60:
I believe at one time or another we have all been guilty of making mistakes when we are first starting out. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
However, there are some mistakes that will keep us from growing and attracting our ideal client.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Here are 3 common mistakes people make when starting a business:⠀⠀⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
1. They start a business only because they see what others do and they think they can copy it.⠀⠀⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
2. They spend too much time learning a new business instead of using skills they already have.⠀⠀⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
3. They scale too quickly because of the "shiny object" syndrome.


Iz that all.
Re: 3 Common Mistakes People Make When Starting A Business by MrStan11(m): 2:38pm On Oct 15, 2019
Imagine a salary earner advising you on business.


The only mistake people make when starting a new business in Nigeria is; Starting a business where all odds are against you from govt official harassing you to pay tax, power, insecurity, suicidal loans to Landlord palaver.


To even be Nigerian is war to talk of business.
Use that money and travel abroad before you start blaming village people.

6 Likes

Re: 3 Common Mistakes People Make When Starting A Business by GeoAfrikana(m): 2:38pm On Oct 15, 2019
Daviddson:
Number 4. They spend all they currently have to set up the business and therefore put themselves under the pressure to start raking in returns.

Shout-out to Seun for the changes we've been seeing on Nairaland recently. Please we need hashtag, @username and the feature to block people from following you. Someone has been opening tens of accounts every week and trolling people.

Personally, I don't see any functional changes. I only see changes in colour.

Please enlighten me.

2 Likes

Re: 3 Common Mistakes People Make When Starting A Business by whitering: 2:39pm On Oct 15, 2019
chukzyfcbb:

Change your nairaland password

Update your antivirus and scan your PC, it may be nairaland this time, tomorrow it could be your Gmail and then your online banking details

Thanks
Re: 3 Common Mistakes People Make When Starting A Business by Lantern042: 2:40pm On Oct 15, 2019
kelvine:
4. They rent shop in a wrong location under a bad landlord.
Rightly said bro, Location is very Paramount when setting up a new business, it could make or break the Business. That's my predicament at the Moment, right now am just Wallowing in regret.

6 Likes

Re: 3 Common Mistakes People Make When Starting A Business by Houseofglam7(f): 2:40pm On Oct 15, 2019
undecided
Re: 3 Common Mistakes People Make When Starting A Business by SoNature(m): 2:43pm On Oct 15, 2019
Valwezzy:
Chineke nna! shocked cool
My landlord just promised to give me free land where i can build a factory and startup my own business after showing him this post.

May God bless you OP.

Chineke!

We have many mad people, who are not roaming the streets yet, on Nairaland grin

2 Likes

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