Saturday, January 1, 2011

Top 5 Mistakes Entrepreneurs Will Make In 2011 (Avoid At All Cost)

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2010 came and went and now we have a chance to do it all over again. I was taught to learn from others faults so you don’t have to repeat them. Whether you’re pursing entrepreneurship for the first time or a seasoned veteran I am sure you can identify with these mistakes that none of us want to make:

1. Over Committing- Yes, the new year is a perfect time to plan to do all the things you didn't accomplish in 2010. Saying no can often be a very difficult thing to do. It can cause an extensive amount of anger, damage to relationships, and an overwhelming feeling of guilt. But, over committing can overwhelm you and in return slow the progress of growing your business. Take time out to make an action plan for the year and take strategic steps to make them happen while celebrating each achievement.

For more great tips on how to stop over committing check out this article at the links below:

http://www.sanerapdc.com/2010/05/3-ways-to-stop-overcommitting/
http://www.rallydev.com/agileblog/2009/07/stop-over-committing-reth...
http://www.tamingtime.com/time-management-tips.html

2. Avoiding Technology- We are in the technology age where everything happens via the internet. Not being up to date on the latest technological information and software can ruin your business. Take advantage of social media, outlets like facebook and twitter to expand your brand to a larger audience while building relationships with new potential customers. Internet marketing for your business is no longer an option so visit sites like www.mashable.com to get started with your social media tutorials. Read Technology magazines and industry information from sources such as: www.infoworld.com, www.informationweek.com, www.crn.com, www.darwinmag.com, www.blackengineer.com

3. Mis-Education- It’s your absolute duty to educate yourself in the area of business you choose so that you know about all the pitfalls, resources, research, and benefits your industry has to offer. There is no excuse to re-create the wheel for tools that can propel your business when you have access to information from the world wide web. We have all we need at our fingertips we just have to be open to seeing it or reading it. In business it’s very important to read magazines that will provide information that will educate you on business matters. On a weekly basis visit websites or subscribe to newsletters from great business companies such as: www.entreprenueur.com, www.inc.com, www.blackenterprise.com www.businessweek.com, www.fortune.com, www.forbes.com, www.cashflow.com

4. No Team- No one can do it alone, whether you find the right people to work on your team who believe in you and your vision or whether you are getting the right mentor-ship to learn how to develop your organizational chart. Make sure you have a solid team that will support your efforts and can help take your brand to the next level. Team work makes the dream work! Read great tips from the resources below:

http://ysn.com/how-to-5-tips-for-hiring-the-right-team/
http://www.entrepreneur.com/growyourbusiness/howtoguides/article836...
http://humanresources.about.com/od/recruiting/tp/recruiting_employe...

5. Lack Confidence- This is your dream and if you don't believe in it then who will. It is important to have a sense of self when growing your business because you will have people that tell you that it can't and won't work. Confidence is key! Below are the links to some great tips to building confidence!

http://www.essortment.com/career/improveselfcon_skbz.htm
http://www.icbs.com/Kb/inspiration/kb_the-top-ten-keys-to-self-conf...
http://www.businessweek.com/managing/content/apr2009/ca20090421_970...

Now that you know the mistakes, don't make them.

Happy Your Year!

Cameka Smith/Founder
The BOSS Network
“Bringing Out Sucessful Sisters” in 2011