Published on January 3rd, 2017 | by Jose Vasquez1
The Biggest Rookie Mistake New Entrepreneurs Make
Avoid making this major rookie mistake when you’re starting out as an entrepreneur.
When you’re building and running a new business, you’re going to make mistakes. It’s that simple; it doesn’t matter how much experience you have, how much research you’ve done, or how many people are helping you out along the way. Mistakes are a natural part of the process, and they can even be positive experiences if you make an effort to learn from them.
However, new entrepreneurs tend to make more mistakes than their more experienced counterparts (for obvious reasons). While many of these mistakes will be innocuous and correctable, some of them can cause lasting damage to your business’s infrastructure, or compromise your ability to scale over the course of the next several years.
In particular, there’s one big rookie mistake I see coming from almost every new entrepreneur, and it has that impactful potential. What’s especially noteworthy is that it’s inherently preventable, and correctable if you catch it early on.
The Big Mistake
It’s a belief more than an action, but it manifests itself in multiple areas: the mistake is believing that customers will naturally come to you. It’s easy to fall into this trap because it makes logical sense. If your product is good, valuable, and unique, people should naturally want to buy it. There are a few problems with this idea—let me illustrate them with a hypothetical product that’s the “best in the world”:
- If nobody hears about the best product in the world, nobody will be able to buy it.
- If nobody realizes a product they’re looking at is the best in the world, they won’t buy it.
- Even if you claim your product is the best in the world, most people won’t consider it without some social proof.
So what’s the solution to this mistake?
Work for Your Customers
Your first year as a new entrepreneur is crucial—you can’t afford to waste time or money assuming that the customers will just start rolling in. You have to go out there and make a conscious effort to recruit new customers: build a brand, market your company online, speak to potential customers and influencers in your area, and dig deep to get the ball rolling. Only then will you be able to build any kind of significant momentum and keep your business alive.