Mark Casto 0:00
What's up everybody? Welcome back to the Don't quit your job yet, the show where I help you build a thriving business while keeping your nine to five. I'm Mark Casto. I'm the guy that you hire to leave your nine to five. And today we're going to be talking about something that could save you time, money and save you from stress. And I'm going to talk about the top mistakes new entrepreneurs make and how to avoid them. Starting a business is super exciting, but it's also easy to fall into traps that slow your growth or even stop you in your tracks. So in this episode, I'm going to share the most common pitfalls I've seen and personally experienced, and more importantly, how you can sidestep them to build a profitable, sustainable business. So let's dive in. Mistake number one, trying to do everything alone. New off, new entrepreneurs, they often try to wear every hat, marketing, sales, product creation, customer service and more. While it's great to be hands on. Doing everything yourself leads to burnout, and it limits your growth. So I want to give you some advice on how to avoid it. First of all, start with one or two key priorities. Focus on what's going to move your business forward the most, like creating your first product or growing your audience. Secondly, you want to outsource small task as soon as you can afford it, like design or admin work, and then this is probably the greatest thing that you can do to help you avoid a lot of mistakes here, early on the journey, join a community of like minded entrepreneurs for support and advice. Here's a wisdom quote for you. You can do anything, but you can't do everything, so build a team, even if it just starts with one helper, one person to help you. Mistake number two, building without validation. Many new entrepreneurs fall in love with an idea, spend months creating a product and then realize no one wants to buy it, as this is a costly mistake, and not only cost you money, it costs you time. So let me give you some steps on how to avoid that. Talk to your audience before you create anything. Ask what they need and what problems they're willing to pay for you to solve. Test your idea with a beta version or a pre sale before you fully launch, okay? And then you can also pay attention to what's already selling in your niche. It's a sign that there's a demand. Success always leaves clues. Here's a wisdom quote for you validate before you create. A proven idea is worth far more than a perfect one. Okay? Now mistake number three,
this is a big one, focusing on perfection instead of progress. Guys, perfectionism kills progress. You don't need the perfect website or the perfect logo or a perfect product to start you just need to take action. So let me give you some advice on how to avoid that mistake. Set deadlines to launch, even if it's not perfect, you can always improve as you go. Secondly, focus on solving problems for your audience, not creating something flawless. And then lastly, remember your first version is just the beginning. It's better to be done than perfect. Here's another wisdom quote for you, Imperfect Action beats perfect inaction every time. And then I want to give you another mistake here. Mistake number four is ignoring the numbers. Guys, passion is absolutely important, but so is profitability. Many entrepreneurs don't track their expenses. They don't track their revenue or their cash flow, which leads to financial stress. Let's talk about how to avoid that. First thing you can do is set up a simple system to track income and expenses, even if it's just a spreadsheet. Also you need to know your key numbers, like your profit margin and monthly revenue goals. And then lastly, you need to make sure your pricing reflects the value that you're delivering and covers your cost. Here's another wisdom quote for you, your business isn't a hobby. Treat it like a business, and the numbers will reflect your success. And then Mistake number five,
overlooking the importance of marketing. Building an amazing product is only half the battle if no one knows about it, they can't buy it. New entrepreneurs often underestimate how much time and energy they need to spend on marketing. So let's talk about how to avoid that. You need to dedicate at least 50% of your time to marketing and building your audience, focus on platforms where your ideal customers already hang out. So you need to know who's my ideal ideal customer. Are they on Tiktok, or are they more Facebook? If it's a younger crowd, it's probably Tiktok.
Dog. If it's an older crowd, it's probably Facebook. You need to know who your ideal customer is, and you need to know where they're hanging out online, and then use a combination of organic content and paid ads to expand your reach. Here's another wisdom quote, your product doesn't sell itself. Your marketing does okay. So those are five mistakes that you can that young entrepreneurs make, or aspiring entrepreneurs or new entrepreneurs make, and so I hope that I can help you avoid those mistakes with this teaching today. But here's what I want you to do this week. Here's my call to action to you today. Number one, identify one mistake you might be making from today's episode. Secondly, I want you to take one step to fix it, whether it's validating your next idea, simplifying your task or getting serious about your numbers. Thirdly, I want you to share your progress with me in the comments or DM me. I'd love to hear from you and how you're growing and if you want to avoid these mistakes and build a profitable business faster, I want you to watch this new training that I just released. It's called the secrets to monetizing your followers fast. And the link is in the description below. And guys just a little teaser for next week's episode. We're going to dive into how to create a simple marketing plan that actually works. If marketing feels overwhelming or confusing, this episode is going to give you a clear, actionable strategy to grow your business with confidence. I'll see you in the next episode. You.
Transcribed by https://otter.ai
