Back when I started my business, I wish someone would of warned me of mistakes to avoid when getting started. I thought I knew everything from taking a few courses, doing some Google research and watching some YouTube videos.
But boy was I wrong.
I did attempt starting multiple businesses over the course of two years. 2020-2022..
But when I finally took myself serious and took my business serious.. it was a game changer.
Isn’t it Good to Make Mistakes?
Of course, there is nothing wrong with making mistakes. It’s how us as humans, grow and learn.
But if I can leave you with a little advice today, I would love to help you be able to learn without having to go through every single struggle that I did.
It’s going to save you a lot of time and a lot of money.
So are you ready?
You know what time it is.. grab your favorite drink, sit back and let’s learn about the most crucial mistakes you want to avoid making as a new mama boss in business.
Neglecting a Solid Business Plan
Starting a business is like embarking on a voyage, and every voyage needs a well-thought-out map. I talk a little about having a roadmap in my past posts.
One of the most common mistakes new entrepreneurs make is diving into their ventures without a comprehensive business plan.
You may have all the right ideas, but not fully understand how to properly put them together.
A solid business plan serves as your roadmap, outlining your goals, target market, competition analysis, financial projections, and marketing strategies. Take the time to create a detailed plan that aligns with your aspirations as a business owner and a mama.
Ignoring Market Research
Oh this is important so listen up.
Understanding your target audience is key to running a successful business. Many new entrepreneurs mistakenly skip market research, assuming they know what their customers want.
But as a new business owner, please tell me how you already know what your customer wants? You don’t, sadly.
Don’t fall into this trap. Invest time in understanding your potential customers’ needs, preferences, and pain points.
Conduct surveys, analyze data, and stay updated on industry trends to ensure your products or services cater effectively to your audience.
Overextending Yourself
As a mama, you’re already juggling multiple responsibilities.
Starting a new business on top of that can be overwhelming. Avoid the mistake of overextending yourself by trying to do everything alone.
Build a support network, seek help from family, friends, or childcare services to manage your time effectively.
Delegate tasks, focus on your core strengths, and outsource when needed. Remember, taking care of yourself is crucial for your business’s success.
We all know that you’re a superwoman but if you’re going to stay a superwoman.. make sure to not run yourself dry!
You have endless time to make your business work, don’t push too hard to make it be.
Neglecting Financial Management
Financial mismanagement can spell disaster for any business.
Money coming in. Money coming out. Are you profitable or are you in the red?!
Track your expenses meticulously and set aside a budget for marketing, operations, and contingencies. As a new mama business owner, it’s essential to understand your cash flow and maintain a healthy financial buffer.
Invest in accounting software or hire a professional accountant to keep your financial records accurate and up-to-date.
You may not feel like it’s worth it in the beginning as you’re making a little here and a little there, but I promise you won’t be sorry you kept track from day one.
Underestimating Marketing and Branding
Your business’s success heavily relies on effective marketing and branding strategies.
Many new business owners, especially moms juggling numerous responsibilities, tend to neglect this aspect. Don’t underestimate the power of a strong brand identity and well-executed marketing campaigns.
Tell me what you get out of my brand. All of the colors stay the same throughout all posts and pages. All of the fonts as well. If you take a peak at any of my socials, you’ll also see that they carry the same flow as well.
Pick something that vibes with your business!
Utilize social media platforms, email marketing, and collaborations to reach your target audience and create a loyal customer base.
Failing to Embrace Technology
In today’s digital age, embracing technology is not a choice; it’s a necessity.
As a new mama business owner, leverage technology to streamline your processes, enhance customer experience, and scale your operations.
It’s not only going to save you time, it’s also going to help you to understand our world as we continue to grow technologically.
Invest in user-friendly website development, e-commerce platforms, and customer relationship management (CRM) systems to stay competitive and efficient.
Ignoring Customer Feedback
Feedback from customers is invaluable for your business’s growth. However, many entrepreneurs, especially those in the early stages, may feel disheartened by negative feedback.
You may feel like you know what’s best but you have to remember to keep your customers in mind. They will tell you what they need to be happy!
Embrace customer reviews and criticism as opportunities for improvement. Respond promptly to queries, address concerns, and show your customers that their opinions matter. Happy customers become loyal advocates for your brand.
Losing Sight of Work-Life Balance
Balancing motherhood and entrepreneurship can be challenging, but neglecting your well-being for the sake of your business will eventually take its toll.
Practice self care!
Strive for a healthy work-life balance to avoid burnout. Set boundaries for work hours, make time for self-care, and prioritize quality time with your family.
Remember that a happy and rejuvenated mama is better equipped to handle the challenges of entrepreneurship.
If you want this to fully last (your business), you need to know when to step away and focus on other things in life because guess what? It’s going to be right there waiting for you when you return!
Learn From My Mistakes, Okay Mama?
As a new mama business owner, you’re embarking on an empowering journey filled with opportunities to thrive personally and professionally.
By avoiding these eight crucial mistakes—neglecting a business plan, skipping market research, overextending yourself, neglecting financial management, underestimating marketing and branding, failing to embrace technology, ignoring customer feedback, and losing sight of work-life balance—you can set the foundation for a successful and fulfilling entrepreneurial venture.
Embrace each challenge as an opportunity to grow, and remember that with dedication, passion, and a little mama magic, you can conquer the world of business and motherhood.
I’m so happy to hear all about your success in the long run. Keep pushing mama, you got this!
xoxo, Rose