5 deadly business mistakes most entrepreneurs make and how you can avoid.

By: David Izulu

1. Failure to have an exit strategy.I'm amazed when most people
get started in business for the wrong reasons. Maybe because
they want to make money or they want to be their own boss.

Or maybe they lost their job or their boss fired them,and they
have been working for their company for the last 15years and
they think they know as much about the business as the boss at
the company.

At times, their parents passed away and they kind of take over
the family business.Or they could not find a job and they have
start their own business. So, they got into business without
knowing what the business is all about.

Unless you are planning to work until you drop dead you must
have an exit strategy.You must have a clear and specific reason
for starting the business.For instance,what do you hope to get
out of your business and how do you want your business to serve
you?

Are you going to sell the business for a huge sum and retire?
Are you going to keep the business and cash out your time,maybe
delegating the day - to - day and make a huge passive income?

Will your business be a cash cow for you? Or are you going to
franchise your business and collect franchise fees like McDonald
and King burger? Or maybe you have bigger goals. You are going
to take your business public who knows?

You need to know all of these before venturing into your own
business.

2. Another deadly business mistake most entreprenuers make is
misunderstanding the Importance of marketing. Most businesses
operate like a 3-legged stool. you need all three legs,
otherwise the stool falls down. The three legs of business are:
The products and services,the operation and marketing.

You can have the very best products and services in the
world,unless you let people know what you do,unless you market
your business,you are not going to have a successful business.

The huge misconception among entreprenuers is "If you build a
better business,the world will be a path to your door".

Something like that,right?

The truth is you don't need to build a better business.What you
need do is spend time promoting your business.Do not delegate
marketing to anyone else,because marketing brings in the money.

Marketing is your business!

No marketing,no sales,no business. So, focus you time in
marketing,because revenue will take care of a lt of problems.

3. Most entrepreneurs promote Image advertising instead of
direct response advertising.Entreprenurs listen to the advice of
sales reps who tell them"You've got to run this ad 15-20 times
to create a top of mind awareness.If it doesn't work-you've got
to run it 15-20 times".

Is that not normal advertising?

Most entreprenuers are not tracking it and they just keep
running it again and again and again.The secret is you cannot
multiply zero.If you are not getting a response today,you will
continue not getting a response,period.

Your best option is direct response advertising.This simply
means that the advertising dollar you spend is measurable and
accountable.If you spend $10 dollars how much are you getting
back in dollars - not "oh,I have created my top of mind
awareness".

Image does not pay bills!

You need cash, so you must know the return on your
Investment.Marketing is all maths.It's not about creativity. you
spend a bucks,you make two bucks back.

4. Failure to think outside the box. when you open the yellow
pages you will notice that all the ad basically, look the same.
The point is do the opposite of what your competition are doing
- you will do well.

Think outside the box - be a little crazy,be a little
outrageous,because nowadays we are bombarded with advertisements
and marketing messages everyday. You have to do something unique
and special to catch people's attention.You have to be a little
different.

Look at it this way,if you think outside the box,you do
somethting that is different from your competition and it does
not work.What are you going to lose? You can always go back.But
you know, it is likely it will work.

5. Marketing to everybody.If everybody is your customer,nobody
is your customer.Targeting a niche market is probably the
smartest way to market. Mass marketing cost so much.

David Izulu:
David Izulu is an Online business consultant and Information
Marketer. for your FREE 6 day ebook magic ecourse send a blank
email to bizsuccess@ustoday.net