5 Mistakes Women Entrepreneurs Make When Building a Business
I hate to see women struggle in their business. This was one of the driving forces for me creating The Diva Movement. This is why I want to share some of the most common mistakes that I see women make in their business.
If you find yourself overwhelmed and struggling in your business, you may be making one of these mistakes.
Thinking like an employee and not like a CEO. Employees are reactive, focus on what’s right in front of them, and not on the big picture. A CEO is a proactive, visionary who focuses on finding solutions. Moving from working a full-time job to running your own company can be quite a transition. But if you make the transition physically and not mentally, your business will suffer.⠀
2.Not charging enough. RAISE your PRICES! Many businesses fail because their prices are too low. Selling your products or services at the lowest price doesn’t make customers more loyal. Have you heard of something called perceived value? It's how your customer views the benefits of your product/service to help meet their needs.⠀Sell the value and highlight the benefits to your customer. When your customers feel like what your offering is meeting and exceeding their expectations, they will be willing to pay more money! (CHA-CHING)⠀⠀
3. Letting People forget about your business. Don’t adopt the mindset that if the economy is down, that people don’t want to hear from you. In fact, this is the time to keep building your relationships and strengthening your network. There are still plenty of opportunities for you to connect.
4. Not having a plan-you don't build a house without a blueprint. And you don't want to start a business without a plan. It doesn't matter if you create a 1 page or 18-page plan-you need a plan! It's your roadmap for success.
5. Not building it before they come. Don't wait until your company blows up before you build it- put policies, procedures and processes in place. From your refund policy, business contingency plan to insurance and attorneys. This will save you time, money and energy.⠀⠀⠀⠀
Female entrepreneurs continue to make some mistakes that prevent them from growing their business. If you find yourself putting a lot of time and effort into your business with little or no success, then you may be making one of these four mistakes.
Now is a good time to take a look at how you have been running your business so you can make the necessary changes.
If you are struggling and need help contact us today. We are here to help you.⠀