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5 Business Pitfalls to Avoid

Our theme this year is overcoming our fears. One way to overcome a fear is to be prepared for it.


You want to start your business this year but you are afraid of the uncertainty that surrounds it?


Below are 5 business pitfalls to avoid:


Use a contract. When starting, it is easy to do a lot of word of mouth negotiations and explanations but we all know that a lot of us are multitasking and we are bound to forget what was just told to us minutes ago.

If you are getting a volunteer on board or hiring someone to carry out a task, write it out, get clear on your expectations and get them to acknowledge that document or contract by signing or replying via email.

Lock in your revenue streams: Starting a business can get overwhelming; this overwhelm can be worse if you are stuck financially. If you have a product/service, you need to project your expected income but also you need to have a buffer, which is a ‘safe amount’ to keep you going until you start getting sales.


When starting is not the time to splurge on an expensive office, software you do not need or hiring resources that cost you. In severe cases this extra load can cause the business to fail.

Here are some solutions to help you keep afloat:

-Continue marketing at all times.

-Be careful of expanding too quickly.

-Think about contracting out, hiring interns instead of taking on permanent staff.

-Keep your focus on continued cash flow, even if you have to delegate other responsibilities.

-Create good systems to ensure your business runs efficiently.


Do your market research: I know how many times I have thought of an idea, only for me to go online and see that it exists. This should not deter you from continuing; in fact this should motivate you to continue with your research and idea. You have to do proper research if you want to start and sustain your business.

Questions such as:

-Who is my target audience?

-Where are they?

-What should be my price point?

-What else are they searching for?

-What need are my competitors’ not meeting?



Taking on a business partner: Honestly, the work is supposed to be easier and the load bearable if you have someone on the business journey with you; however, if you have the wrong person, it can crush your motivation and your business.

It is important that you do not start your business on sentiments but on merits. Do not be quick to give away a huge portion of your business to commit someone, unless you are absolutely sure about your partnership. There is nothing wrong with testing the waters and seeing how they perform over time, and yes you would have to think of ways to compensate them for their effort.



Thinking too small: Are you just interested in generating income for yourself and nothing more? Instead, aim to build a profit, aim to build something large, and aim to build something great. If you shoot for the stars, you may fail, but at least you'll make it to the moon.


These are just few pitfalls to avoid. We will be discussing this more at the upcoming Women Do It Afraid Business Style Workshop May 2018! Registration is ongoing HERE


If you skipped to the end, the summary is:

-Use a contract

-Get squared on your revenue

-Do your market research

-Be careful before taking a business partner

-Do not think too small


Hit reply and let us know what part stood out for you!









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