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7 Mistakes, Missteps, & Muck Ups That Cost A Business Coach Big (And How To Avoid Them)
When the previous year is over, I always look back to see what I did well and what could be improved. Below I share with you my mistakes, mistakes and mistakes that I have experienced in my business over the past year.
Many of these mistakes, mistakes, and muck-ups cost me money, so I’m sharing them with you so you can avoid them when you make your own New Year’s resolutions.
Mistakes, Mistakes and Mistakes #1 – Spending too much time on my computer, not face to face. Online networking is great, however, it cannot take the place of face-to-face meetings or phone conversations. Sending emails is very easy, but I found myself too caught up in the convenience of this technology. I even got into a huge argument with one of my salespeople because I tried to “break things off” with him via email. I should know better.
LESSONS LEARNED – Promote online networking activities in face-to-face and telephone meetings.
Mistakes, Mistakes and Mistakes #2 – Spending too much time on the technical side of my business. I have worked in the technology industry for about 10 years and pride myself on being a smart kid. However, my digital knowledge kept me up late at night as I took it upon myself to update the content on my page, create a new autoresponder and create a new HTML page for a new product, instead of planting things for of others. For every new product or teleclass that I start, it takes me 8 hours to get all the technical parts ready.
LESSONS LEARNED – Hire a tech expert to maintain my website. Give it up.
Mistakes, Mistakes and Mistakes #3 – My administrative work is not paying off. There are things I don’t like doing in my business – updating documents, making them look good, writing content and writing marketing copy for new products. I can’t stand doing these things and it takes me a long time to write a sentence. Then, that means I have to rush to write something quickly because I’ve been sitting too long and the deadline is an hour away.
LESSONS LEARNED – Hire a virtual assistant or copywriter to do it all for me.
Mistakes, Errors and Muck-up #4 – Spinning my wheels targeting the wrong market. When I first started coaching, I was on a mission to inspire women to create careers they deserve. Despite making money, I didn’t feel interested in helping women climb the corporate ladder. It wasn’t until my mother came to one of my speaking engagements that she gave me the information I needed. With his wisdom and keen eye, he helped me develop my current mission – to help business owners make more money using online media.
LESSONS LEARNED – Listen carefully to what my clients (and moms) have to say about their problems.
Mistakes, Mistakes, and Muck-ups #5 – Create a bunch of cool new products together. Just because I can publish 5 special reports in a weekend, doesn’t mean I have the energy or the energy to promote them all at the same time. I realized that if I wanted to sell a media product, I really needed to sell them. Until I do that, they will sit on my site, pretty and out of date.
LESSONS LEARNED – Focus on one product for at least 3 months and use my colleagues to help promote the new product.
Mistakes, Mistakes and Contamination #6 – Attending networking events that didn’t produce results. If networking is about building relationships, it should also lead to positive relationships. Unfortunately, I attended too many networking events where everyone was the same as me – an entrepreneur looking for business. Although I made good connections, after attending the same networking events for 12 months in a row, I noticed that the network circuit was broken and there was no power.
LESSONS LEARNED – Stick to networking activities for no more than 4 consecutive activities, analyze the results, then move on. Also, attend more networking events that connect me with my target audience.
Mistakes, Mistakes, and Muck-ups #7 – I don’t spend a lot of money on educating myself. As an entrepreneur, it’s easy to forget that I have to invest in myself through learning that can help me learn to do things better. In the first half of the year I didn’t spend a dime and my progress showed it. However, towards the end of the year I started spending quite a bit of time educating myself on new techniques and processes. Doing this has allowed me to connect with how to do things better in my business, as well as meeting exceptional people and trainers. Additionally, I have noticed an increase in sales.
LESSONS LEARNED – Set aside at least 10% of all company income in a savings account to be used for educational materials.
These are what I consider to be 7 mistakes, mistakes, and dirty things that I spent money on and I trust that by reading this you will avoid them when you make your New Year’s resolutions.
Better yet, if you have any mistakes, mistakes, or mix-ups that you’ve experienced in your own business, list them, and write down the lessons you learned from that experience.
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