3 Mistakes I Made in My First Year as an Entrepreneur
Updated: Aug 26, 2019
Starting your own company is a great challenge for people who are used to the comfort of being employees. My first year as an entrepreneur had its ups and downs, but in the end, I love my job and have the opportunity to spend much more time with my family and pets than before. I have broadened my horizons and see situations and problems in a different light and it is easier for me to find an effective approach than before.
I didn't foresee a few steps and here are the three mistakes I made in my first years as an entrepreneur and how I "repaired" them:
1. I did not focus on maintaining clients I already had.
I invested my resources and time in finding new clients, hunting for potential contracts rather than valuing what was already in my hands. Big mistake! It's true that I didn't have a good insight into my clients' businesses, nor the resources to build a strong relationship. Now I realize it wasn't a productive approach and I've changed my attitude on the subject.
2. I didn’t use the right channels to find new clients.
Back in my first year as an entrepreneur, it took me a while to understand what my ideal client looks like. Then I used all the channels that could bring me new customers. Big mistake! Blindly chasing ghosts didn't benefit my business, but fortunately, I quickly realized it, and I gathered all my resources and focused on a channel that suited my business.
3. I’ve spent too much time on useless subjects.
My recruitment style was already developed, but I'm still improving it every day based on the feedback I get from candidates and clients. I also lost time in learning how to conduct cold calls even though I hate this approach. I got a lot of advice from more experienced recruiters. Big mistake! I realized that I want to enjoy my job and do it my way. Instead of cold calling, I started to invest time in my website, my company blog, my personal brand and the presence on social media.
Every company is different and every entrepreneur has his/her own vision and way of thinking, but my situation can occur in your company and it is better to identify it at an early stage and take action. Recognizing mistakes and overcoming obstacles makes me aware of the complexity of my growing business.