The following is a feature article by Alex Papa.
If you start or run a social media business you want to make it a successful one. You want a business that will continue to grow and thrive. However, there are so many things that can have an effect on the outcome that it is only natural to need as much expert advice as possible on what to do or not to do.
One key point of advice which must be adhered to is when you first establish your social media business, you must be careful to avoid the five pitfalls listed below:
1. What’s the Plan?
At some point, almost everyone has a ‘bright idea’, an inspiration for a terrific product or service which the world needs and wants and has the potential for making someone like you a lot of money. Most folks never do anything about it, but unlike ‘most folks’, you have the drive to take it past the realm of possibility to a reality. Having the idea and the drive to start a social media business is the same, but you now must have a plan and be able to put that plan into action. You must see this as a business that requires a proper business plan.
Your business plan will be the impetus to turn your idea into a viable business. It should outline a risk and cost analysis, an operating expense list, and a growth time line. Trying to begin a business without a viable plan would be folly, a bit like starting out on a long journey without a road map.
The first pitfall to avoid is Lack of a Business Plan!
2. Getting Cold Feet?
Self doubt and fear is a killer for any endeavor and as a social media entrepreneur you are no exception. It is most important to remember you are not immune to this destructive emotion but you are a ‘risk taker’, an adventurer on a new journey. Let the excitement of your new venture propel you past the negative thoughts of not being able to make money online, or that you are not up to the task or any one of the dozens of doubts that will pop up from time to time.
Remind yourself that others have overcome the same negativity and succeeded, and so will you. You are a mover and a shaker, and you are going to liven up the business scene with your success.
This is the second pitfall you must avoid – Failing to Overcome your Doubts and Fears.
3. Can’t Do It All Alone?
Assuming you have overcome the first two pitfalls, you have a great business plan and you have conquered your fear and self doubt, you will likely realize you cannot do everything needed to run your business by yourself. This is where you must be pro-actively seeking mentors to help. Don’t even try to do everything alone. Every business needs a team of advisers and mentors in order to succeed. Assess your strengths and weaknesses, your available time and your resources; then seek out experts in their fields to accomplish those things you cannot do yourself.
This is the third pitfall you must avoid; Failure to Find Proper Mentors!
4. Overstressed, Overworked, Overwhelmed?
Any type of new business venture can be overwhelming. You already have a life with responsibilities, commitments, family, job etc. You cannot just throw all that away and give yourself over completely to the new business.
The fourth pitfall to avoid is over committing!
5. Don’t Know the Ropes Yet?
A well known phrase “There’s a sucker born every minute” can be applied to any novice in any venue and an online business entrepreneur is no exception; they quickly become a target for those thieves who try to involve you in their schemes and scams. So be forewarned that those people are out there online and try to work with people you trust and be skeptical of ‘deals’ you will be offered. Before accepting any, investigate and use the advice of your mentors before becoming involved in them.
This is the fifth pitfall to avoid; Misinformation!
Photo by Sebastien B.
About Alex Papa
Interesting post, its always good to have a mentor every challenge is a new and unique challenge. Being confused about taking decision is a crime and failure is a FAILURE.
A good mentor exhibits the personal attributes it takes to be successful in the field.
Hi Biodun, having a good mentor is vital. And we should not confuse mentors with advisors. Mentors are people who have done what we want to do, at the level of success and speed we want to do it, and are willing to share with us the way to success. Advisors on the other hand, are often people who have never tried what we want to do, but have not yet succeeded. A friend or a family member can be advisors but it is a good idea to link with mentors!
FYI, Alex, if you click the black reply button you can guarantee the commentator will receive an email of your reply (if the commentator wrote in an email address). By not threading your reply, you can’t guarantee it’s seen.
Thanks for a great article!
Hi Ari
Thank you. Point taken
Regards
Alex Papa
Hey Alex,
A social media business is something I have had my eye on for a while now. I think your third pitfall to avoid is one that would probably apply to me if I tried to start a social media business.
I think seeking mentors is something that is important in every and any business, and don’t think a social media business is any different.
Hi John
True. A mentor is a person who has had an experience in the field we operate and hence would be the best to help us navigate in deep waters away from pitfalls.
Thanks for being here!
Regards
Alex Papa
Thanks Papa for the article. These pitfalls can apply to starting any new business and they are well worth keeping in mind. How do you define “Social media business” and which one do you think will be more successful in the next 2:3 years. Thanks!
PS. I can add one more pitfall. Lack of patience (Expecting quick results). I wish others can offer more pitfalls especially from their real experience.
A lack of patience is true of any industry Joy in a consumerist world people want more, faster cheaper better, this degrades our patience.
It can be annoying sometimes though, having to wait to see what will ‘take off’ and what won’t.
Hi Christopher
Perseverance is not just a virtue in business – it is the basic ingredient to success.
Regards
Alex Papa
Very true Alex…
Hi Joy
Thanks for being here.
Usually the term “Social Media business” refers to methods used in major Social Media platforms, such as Facebook and Twitter in order to drive traffic into your own website or a customer’s website. It is a method to acquire new clients, increase an email list or a database list. It is hard to say which one will be more successful in the next 2-3 years because these platforms evolve very fast. Take Twitter for example, that almost nobody knew about 2 years ago and now it is a global phenomenon. What Social Media website will be more successful is a million dollar question!
Regards
Alex Papa
Great stuff, Alex. You never disappoint. I was mentally checking if I committed the pitfalls that you mentioned and I’m glad that I am not guilty of them. I understand the importance of having advisers and mentors. I have both and I value their words all the time. They keep me on my toes. As for “over-committing”, I was just glad that there were people who advised me not too overstretch myself, making me get the people I have today. And, like Ari, I am also thankful for the guest post you submitted to my site.
- Wes -
Hi Wes
Thanks for the appreciation. It’s been a pleasure to be writing in your blog.
Regards
Alex Papa
Like Joy Mystic said above, these 5 really hold for anyone starting up any business and are not peculiar to social media. I would suspect that one of the hazards or pitfalls to avoid in starting up a Social Media Marketing business really has to do with the volatility of the social media sites/platforms and the fact that they could implode as rapidly as they grow.
Another general pitfall by the way has to do with theblack of passion for what you are involved in.
HI Jim
Thanks for visiting. As you rightly said lack of passion stops productivity.
Regards
Alex Papa
Great tips. The first pitfall that you mention, “What’s the Plan?”, is crucial when it comes to using social media for business. Many companies think that social media is something that you can just jump into. Not true. Like any other marketing plan you should have a strategy in place as to how you want to use it.
Hi Nick,
Thanks for visiting! True – Any venture without a proper plan is a castle in air
Regards
Alex Papa
With all due respect, you should have just labeled this article “5 Pitfalls those who are looking to get into business should avoid”.
While it relates to “Social Media” these are really just general fact of life things. I was hoping for an article that actually dealt with specific things relating to social media itself, but good effort, I guess, nonetheless.