Top 6 Painful Business Mistakes to Avoid

Are you a new entrepreneur? If so, be prepared for all manner of challenges and obstacles you might encounter. The competition may be tough, funds may be lacking, costumers may be difficult, or even your own employees may give a headache. However, the most painful problems you will probably face are those which you have caused yourself, as result of a late decision or even poorly timed actions.

Mistakes will always be a part of your life; it is what makes you human. However, you can learn from others’ mistakes so that you don’t have to experience them. All you need to do is to equip yourself with wisdom from peers and plan ahead to deal with some of the most painful mistakes entrepreneurs make.

Agree or disagree, but below are six most painful mistakes that entrepreneurs committed throughout their whole career and how they successfully got around them.

Note: The numbers do not necessarily mean that one is more important that the other.

1. Blindly following advice

Newbie entrepreneurs do this almost all the time. Poor advice can come from a friend who owns business in another field or even a professional.

Yes, it is important to get professional advice, but it’s also more important to be more objective about it and always put your business in perspective. You see, what worked for him may not necessarily work for you as well

2. Right goals were not set

Another mistake that even veteran business make is not setting the correct goals.

As a principle, you always need to have two sets of goals – short-term or long-term.

A short-term goal means something you want to achieve at the soonest possible time. What do you want to achieve today, this week, this month, or maybe even this year? Do you want to make sales? Do you want to have talented employees? Do you want to have loyal costumers?

A long-term goal means something you want to achieve in the future. These goals are not possible within a week or in a year. These goals take a really long time to achieve. These could be getting on the front page of google, growing your social media following, or increasing your brand recognition and awareness.

Another principle that you need to learn is that you have to do your best that your short-term and long-term complement and leads up to each other. When you get this wrong, you will be wasting time thinking and not doing anything productive for your business.

3. Bias towards your own product

Naturally, you will fall in love with your product when you it. You deceive yourself in thinking that it’s the best in the market.

Well, that isn’t necessarily wrong, and it great for your ego and confidence. It’s also very important to look for things that could be done to make your product best as it can be.

At the same time, you should not also be seduced in the beauty of perfection.

You should look for a healthy balance in these aspects if you want to have a successful career as an entrepreneur.

4. Reluctance to spend on marketing

I find it surprising how marketing is often not being prioritized with new entrepreneurs. Unbelievable.

THIS IS HOW YOU GET MORE SALES!

Especially if you are new, always set aside some funds on marketing.

You may not a have marketing budget because you can’t figure out the ROI.

This can be solved if you begin with proper monitoring and reporting. Knowing your costumers makes it easy acquire new ones.

5. Failing to delegate your work

You will have a lot less headache if you and a lot more successful business if you learn to delegate.

You may be tempted to the little things like designing your own logo, doing your own accounting, it’s really a bad idea.

Even if you are excellent at it, you have to ascertain how to maximize the use of your time and energy.

6. Spending too much on things you don’t need

Until your company has a consistent track record of profits, it pays to be conservative in your expenses.

Avoid having fancy equipment, web hosting, software costs, office space that your business doesn’t need.

Avoid taking on debt, as well. Be wary on business credit card debt.


So these are the Top 6 Painful Business Mistakes to Avoid. Do you agree with these? Have you experienced the pain of making these mistakes? Did I miss a mistake that others made? Feel free to share your thoughts in the comment section below.

If you also enjoyed reading this article, let’s see each other on Facebook and Twitter.

The Leading Influencer Marketing Techniques

Influencer marketing is the next big thing in digital marketing. It’s not only the fashion, beauty, and lifestyle industries are benefiting from it, but also major healthcare, hotel and travel brands have gotten awesome results from their influencer marketing campaigns.

Influencers give a plethora of results like getting an influx of new followers, more brand awareness. They can also increase user acquisition, purchase, downloads or direct sales.

Here are 5 leading influencer marketing techniques that you absolutely must know in order to maximize the results of your marketing campaigns.

Coupon Codes

Unique promotional codes benefit both the brand and influencer. Codes stimulate influencers to share them because they allow them to offer something valuable to their followers. This kind of endorsement adds brand value towards the influencer’s followers.

These codes are merged in the content of influencers to reward and encourage customers to buy. It builds the influencer’s loyalty to the brand and helps to achieve other key campaign objectives such as increasing revenue and sales.

Blog Posts

Writing a blog post on your products and services increases brand awareness and makes your website even more popular. Users refer to posts of this type with brand-specific contents, so that they form an opinion about your brand or service.

In your marketing campaigns, blog posts are just as beneficial as social media posts. Brands rely on those influencers to give their audience recommendations and blogging is just one of the finest and most reliable ways to do this.

Brand Mentions

Did you know? Nearly half of Twitter users decide to purchase a product inspired by an influencer’s tweet. It is also a known fact that tweets from influencers along with brand tweets are five times more likely to be purchased. This is the effect of brand mentions on social media.

A mention of a brand on an influencer’s social media can also greatly increase brand awareness. According to studies by Tapinfluence and Altimeter group, the third most successful marketing techniques is indeed brand mentions.

Microsoft used the broad social media presence of National Geographic to launch the International Women’s Day campaign. The campaign “Make What’s Next” started in 2016 and resumed in 2017. This was aimed at promoting more girls in STEM(Science, Technology, Engineering and Math) professions.

Several adventure photographers took 30 photos and were posted on National Geographic’s five Instagram accounts. A famous female scientist or adventurer was on each of these photos.

With 30 Instagram posts, Microsoft reached 91 million people.

Free Products

Offering free products and services to influencers in exchange for their opinions and experiences is a great way to reward their efforts and to use their influence for the benefit of your brand.

Football star Cristiano Ronaldo, who has over 120 million followers, is a very popular Instagram star. He regularly promotes brands and products on his social media platforms.

These extremely attractive promotions result in high conversion rates due to their huge popularity. From his social accounts between May 2016 and May 2017, Nike, Tag Heuer, Abbott Labs and Herbalife earned $936 million in media value.

Challenging Your Influencers

Do you know what motivates people to do great things? Competition. When these ambitious influencers are challenged to accomplish the most number of likes, sales, or impressions, they will be driven to win and make it to the top of the list. This often results in making the promotion even more enjoyable.


These 5 techniques have proved to help business get more leads and boost sales. The success of your influencer marketing campaign hinges upon you to make the right decision in choosing the best influencer and the appropriate platform and techniques for your brand’s messaging.

Why don’t you take the time to test each of these 5 techniques for your marketing mix?