business limitations

7 Ways You’re Limiting Your Business Potential

Starting your own business and becoming a full-time entrepreneur can be exciting but very overwhelming. Suddenly you’re free to be the boss but the plethora of new responsibilities can be daunting. The following tips will help you harness your go-getting attitude and smash the ball out of the park (without sacrificing too much of your sanity).

 

1. You’re Too Nice

When you make the change from hobby to business, it can be an easy mistake to give away too many favours and discounts. It can be tempting to ‘just help out’ with friends, but it’s important to remember that you are now making a living from this service you are offering.

Don’t sabotage yourself before you even get started.

 

2. You Don’t Have a Plan

Becoming a founder/entrepreneur/business owner can be overwhelming. You are no longer in the comforting and protective shell of another business. Now YOU are the one who is responsible for planning and structure.

Set clear goals so that you keep on plan and prevent drifting.

 

Download our SMART goal resource here

 

3. You’re Overwhelming People

Starting a new business is exciting and it’s understandable that you want to shout your offerings/products/services from the rooftops. But wait. Slow it down. Don’t overwhelm your audience. Plan out a clear and simple offering, and you’ll see a much higher engagement rate.

 

4. You’re Overworking

Protect your time or you will burn out. Working 100% of the time is not sustainable and your personal life, mental health and even physical health may suffer as a result.

Establish certain times for work, meals, exercise, socialising, and try to be strict about keeping to these allotted times.

 

6. You Aren’t Strict Enough With Money

New businesses can often struggle to get a consistent money flow, and revenue can become haphazard and unpredictable.

Make sure you are firm about payment for services. At the end of the day, you are running a business and it can really suffer if you allow clients to “pay when they get round to it”.

 

5. You’re Ignoring Professional Boundaries

If you make every client a friend, you will fall into the trap of our first point. To avoid being ‘too nice’, set boundaries with your clients, fix business hours in which you will be contactable, plan out which resources you will make available.

(Note: this doesn’t mean you shouldn’t be friendly – don’t be a dick).

 

7. You’re Doubting Your Value

Second guessing your capabilities will restrict you more than any of the above. You’ve got to be your own biggest cheerleader or you might as well not bother.

You’ve made it this far, so own it.

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