Saturday, May 18th, 2013

7 Deadly Mistakes Entrepreneurs Make – (Part 2)

By Veronica Drake on Feb 18 2013 • Filed under Business

7 Deadly Mistakes Entrepreneurs Make - part 2 (Photo: Robert Linder)This is the second installment of a three-part series called 7 Deadly Mistakes Entrepreneurs Make and How to Avoid Them.

Click to see Part 1.

Click to see Part 3.

5. Not investing in a mentor

I have been in business for myself for four years. I became a coach and I was going to changes lives! That was very noble on my part but I soon realized after my first six months in business I hadn’t gotten any support for myself and I was more confused than ever. I didn’t have a mentor and I found myself ready to call it quits. Full disclosure here – I went two years in this mode (I am a slow learner).I was determined I didn’t need to invest more money, after all coaching school was A LOT of money and I was struggling to pay my bills. What I didn’t realize was all the money I was missing out on by thinking I didn’t need a mentor! Of course, I signed up for everything that came down the pike that was FREE! Let me tell you, free has a HUGE price tag. With free there are many limitations and it will only take you so far, trust me. 
They say hindsight is 20/20, and I know firsthand just how true that is. I now work with three different mentors. I know what you must be thinking, “she can afford it!” Well, truth is I make it a top priority and past experience has taught me a wise entrepreneur does not do it alone! And, as you get to know me you will see I am a very wise entrepreneur. smiley
Tip: List out 3-5 areas where you feel like you could use support and start your search for the right mentor. When you connect with the right person everything will just fall into place. 
6. Not positioning themselves as the expert
When it comes to problem solving (and that’s what you are to your clients; the answer to their problem) you seek an expert in the field to help solve your particular problem. Obviously, you want the most accurate information and assistance that you can get. You naturally seek an expert to help solve your problem; a dentist if you have a toothache, a plumber if your drain is clogged, a mechanic if your car won’t start, so the importance of you becoming known as the expert in your field, i.e. the go-to person is pivotal to your success. 
The way to begin to position yourself is thorough your words; in print, ad’s, social media, sales pages and so on. You must know exactly who you serve and what problem you solve for your potential clients in order to position yourself as the expert. Refer to point #4.

Veronica Drake is an International Women’s Business Coach, also known as the Simplicity Coach. She specializes in working with spiritually inspired women entrepreneurs who desire to simplify and improve the quality of their businesses while being uniquely themselves. Veronica's website is: (note: do not add 'm' after .co)

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