MBA1006 5 Common Mistakes When Starting Your First Business

The $100 MBA Show

Omar Zenhom

Entrepreneurship, Business, Careers, Marketing

4.8 • 2.2K Ratings

🗓️ 17 May 2018

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

You’re starting your first business. Are you nervous?

Don’t be! Even though it’s your first time, you’ve got the advantage of our experience, right here on this podcast. There are so many things we wish we knew when we first got started. Today, we share 5 of the most important mistakes we wish we hadn’t made — because we totally did.

These are not small mistakes! All five of these screwups are potential business-killers.

The good news is that because we made these mistakes already, you don’t have to. And even if you have already made them, it’s not too late to change course. Whatever you do, do not let these errors slide. Avoid them, stop them; whatever it takes.

Many of these mistakes involve the transition from conventional work to entrepreneurship. For the newly independent, it’s important to know the key differences that trip people up. Let our experience (and our failure) be your guide. Click Play!

Transcript

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0:00.0	Heyo! Welcome to the $100 MBA Show Business Lessons you can't afford to miss every single day
0:16.8	with our daily 10 minute business lessons for the real world. I'm your
0:20.8	host, your coach, your teacher Omar's at home. I'm also the co-founder of the
0:25.1	$100 MBA, a complete business training and community online over at 100 MBA.
0:31.5	And in today's lesson you will learn the five common mistakes made when starting
0:36.7	your first business you're going to learn these common mistakes so you can
0:40.7	completely avoid them.
0:42.8	If you're in the middle of starting your first business right now,
0:45.7	you might recognize some of these mistakes.
0:48.0	I'm going to show you how to course correct,
0:50.0	how to make sure you don't keep doing this mistake, how to do the opposite of this mistake.
0:55.8	Let me flat out say that every single one of these mistakes I made, that's how common they are.
1:01.3	I hit five for five.
1:02.8	And the problem with these mistakes is that every single one of them is business ending.
1:09.3	It will end your business if you continue to make this mistake. So you simply can't afford to just ignore these or hope that you can just kind of hustle your way through it.
1:20.0	No, you cannot continue to make these mistakes.
1:23.0	And I'm going to show you how in today's lesson,
1:26.0	so let's get into it.
1:27.0	Let's get down to business.
1:29.0	Today's episode of the $100 MBA show is supported by Earth Class Mail.
1:37.0	If you run a business, you need a business address, but it doesn't mean you need to open up a business office.
1:43.0	You can work from home.
	...

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