3 Business Mistakes Every Entrepreneur Can Avoid

Each person wants to be recognized with fantastic things that are trending, maybe a concept, movie or music. Why? Because once the concept, movie or music is outstanding and it attracts success; so people want to talk about it and want every other people to know that they are aware and the question will be like, “haven’t you heard?” and by this, the concept spreads.

Your business should not be an exception; it should be the talk of the town which brings about advocacy. By wanting to achieve great success there is a level of discipline that should be exercised.

 As potential or active entrepreneur below are three (3) business mistakes you can avoid...

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Avoid starting something. Never finishing.

If I look back on the many `To do’ lists I make and goals I’ve set over the years I see a curious pattern emerge. Although I do actually complete quite a lot of stuff I also have way too many things on my list and therefore take a lot longer to do them. You need to develop a habit of finishing what you start and work on it daily. The less you pile on your plate the less you’ll have to finish and that means you’re going to complete it! Apply this liberally – from large projects to your daily activities. Finishing clearing out your office, enter in your expenses, install the anti-virus software, paint your toe nails, book that trip. Listen to Nike: JUST DO IT.

Avoid Spending Frivolously

I’ve met many people who keep spending money on creating ‘stuff’ because they either have too much money for their own good or still have an income to draw on. Stop putting off launching.

You don’t need the fancy website, the awesome promo video, the snazzy business cards. You just need to have a product or service that functions enough to solve a problem. So create a budget for every project you start, and stick to it religiously.

''Don't spend money until you're making it. Anybody can spend money but not everyone can make money.'' 

- Evan Carmichael

Avoid Being Cheap.

Money should be spend in a planned sequence, in order of priority. But you have to invest in the important things. So make a list of basic items that are really necessary to get your idea off the ground such as the right servers or a domain hosting service. Next, list the items that would be worth investing in because they would likely give you a competitive advantage or strengthen your brand such as a professional Web designer or a marketing and PR specialist.

With the above in mind, it will be an auto cruise for your business. They are rules in business and we have to abide in it. It is not every expense that is welcoming; when it is business you need a level of discipline.

Get more avoidable business mistakes written by Natalie Sisson. These will make you the best you've always want to be in that business you are building.

Adewale Ogunyale is the co-founder project FixitSme, an entrepreneur, Business and Financial Analyst. Currently seeks a certificate in Digital Marketing @ University of illinois at Urbana-Champaign USA. Via Coursera. Feel free to reach out or connect with me on Twitter and LinkedIn