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.