wished she knew before she got started, she almost always says, "I wish I knew I didn't have to know it all." Our businesses are fluid - they change, they grow, and it's really important not to get hung up on small details just because we want it to be perfect. Striving to have everything just right before we launch our business keeps you driving in a loop instead of driving forward. You must let go of creating something perfect and just start creating.
Getting started in business is extremely thrilling, but nonetheless tough. There is no true way to mentally prepare yourself for that great idea that comes to you in the middle of the night, or the realization that you can make a product better. When you get the itch to branch off from your current employment and start your own business, it’s a feeling of pure elation. However, when that moment does come (if it has not already), it can be a harsh reality that the “idea” is only a small part of the equation. Being in the professional world for almost 10 years and providing female entrepreneurs with the resources to get their business off the ground has given me much insight into the mind of a female entrepreneur. Sometimes those helpful reminders of what not to do are just as, if not more, important as the “to do.” Here are three pitfalls that I have seen entrepreneurs commonly fall into and some tips on how to avoid them. 1. Perfection Syndrome As women, we like to be as prepared as possible when we make the entrepreneurial leap, and understandably so. However, every time we speak to a successful entrepreneur and ask her what she
San Diego
By Stephanie Burns, Founder & Co-Owner of Chic CEO
3. Pricing too low Starting out as a new business owner, we try to stay as lean as possible. In order to get things done, we might use free interns, barter our time or use trade. These things are necessary and help us to grow our businesses without spending money we simply don't have. Problems do arise, however, when you price your products or services without factoring in this "free" labor. If you use an intern to help you with your data entry, you've saved yourself that labor cost, but what happens when you actually have to start paying someone to do this job? Have you factored that in to the pricing of your product/service? Make sure you price your products/services as if you were paying someone that data entry wage so when the time comes, your margins aren't drastically reduced.
Woman
Three Common Pitfalls Entrepreneurs Fall Into And How To Avoid Them
2. Fear of Networking All new startups must network – it is a fact. You cannot hit publish on your website, sit back and watch the money flow in. I wish it worked that way! Getting out there, talking to people and making connections is key to getting your business started. My business partner and I attend two to three networking events a week to promote Chic CEO and meet new people. One of our favorite networking groups is 6 Degrees San Diego. They have one of the biggest professional networking groups in San Diego and each one is held in a new venue. We've also partnered with 6 Degrees to power their women's only networking mixers called San Diego SAVVY. Networking can be really intimidating at first but after your first few events, it gets much easier and you'll start to enjoy it. Networking has become a very important part of our business and is a really important tool for startups. Get out there and start talking!
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When you tap into your inner entrepreneurial empress, remember that it is not about perfection or having a product that sells itself; it’s about having the business savvy to take your idea to the next level and avoiding pitfalls that can slow you down. About the author: Stephanie Burns is the Founder & Co-Owner of Chic CEO . Chic CEO is a free online resource for female entrepreneurs that provides the ground level information needed to get started with owning your own business, creating a product or starting a franchise. Chic CEO also provides an offline network, San Diego SAVVY, the women’s arm of 6 Degrees, a networking organization dedicated to increasing professionals’ network of contacts. For more information about Chic CEO, visit www.chic-ceo.com