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Every Rookie Entrepreneur Should Avoid Making These 8 Mistakes

Every Rookie Entrepreneur Should Avoid Making These 8 Mistakes

There are new entrepreneurs every year, and a lot of them are making the same mistakes. Running a new business is a daunting challenge, but if you’ve already taken it on you should want to do it right. Here are common errors a rookie entrepreneur makes in the beginning, when mistakes hurt the most.

1. Don’t Sink All Your Savings Into Your New Business

Rookie entrepreneurs shouldn’t think that they have to spend big to make it big. The $100 Startup by Chris Guillebeau is a great book that documents entrepreneurs who invested a hundred bucks or less to launch their business. Heed its advice by not assuming that you need a huge influx of cash in order to make your business a success. For example, a retail store is a huge risk, costing thousands of dollars just to open. It’s a much safer better to sell online at first and work your way up. But make sure you…

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2. Don’t Get Ahead Of Yourself

Entrepreneurs shouldn’t feel the need to grow their business too rapidly. That sense of urgency is all in their heads and spells disaster for a lot of companies that begin with huge potential. Just because you find some success selling stuff online, don’t immediately jump to buying a physical location. Prove yourself a pro entrepreneur by not rushing to the next step, letting your company keep growing at a steady pace until you’re actually ready for that retail outlet.

3. Don’t Step Away For Too Long

Your business is your baby, and you never leave a newborn unattended. Be sure to constantly monitor your business so that you can put out fires as they happen and take advantage of new opportunities as they arise. You have to prepare for both the good and the bad by keeping a constant eye on your new company. But, at the same time…

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4. Don’t Work Yourself Into A Coma

One of the most common mistakes of an entrepreneur is to overwork. Yes, you have to be vigilant about your business, but no, that doesn’t necessarily mean working 100 hours every week. If you’re burnt out you won’t be delivering the hot ideas that startups need to constantly be coming up with. Let yourself recharge your batteries every once in awhile. Otherwise, all your hard work might be for nothing.

5. Don’t Be Afraid To Ask For Help

As an entrepreneur you’re definitely going to need help, so don’t be afraid to ask for it. Let the people who want you to succeed help you succeed. Friends with the right skills can be an invaluable resource, helping you with the things you need but can’t do yourself.  Have a pal good with web design? Let them design your website! If you think that you’re weak for accepting help, you desperately need to change your way of thinking.

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6. Don’t Forget Your Connections

If you’re a good businessman you have a lot of contacts and maybe a few favors owed to you. When you’re starting out as an entrepreneur, a critical juncture in your career, you should be contacting a lot of those people and cashing some of those favors in.

7. Don’t Give Up Too Quickly

Your business will probably not be a giant success right out of the gate. Expect to be in the red for awhile. But don’t give up too easily, because you could very well make your company soar if you just persevere. A month is probably not enough time to deem your business a success or failure. Keep at it until you can fairly determine if your company has a real shot. If you followed my previous advice you haven’t invested too much in the startup, so there’s not too much risk in keep carrying on until you can get a more definite answer.

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8. Don’t Fear Failure

Sometimes you have to call a spade a spade and fold your hand. Admitting failure requires strength, and if you’re not strong you’ll lose a lot more money than you need to. When you are convinced that things aren’t going to turn around, don’t be afraid to throw in the towel.

Featured photo credit: Brian Wilkins via flickr.com

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Matt OKeefe

Matt is a marketer and writer who shares about lifestyle and productivity tips on Lifehack.

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Last Updated on May 22, 2019

50 Great People To Follow On LinkedIn, No Matter Your Industry

50 Great People To Follow On LinkedIn, No Matter Your Industry

LinkedIn is an excellent platform to network with great people to help you in your career and businesses. However, with over 575 million people on the site, who should you follow? This list will steer you to the right people to follow, organized by categories of expertise.

Job Search Experts

You will likely have several jobs throughout the course of your career, and you will constantly need advice on new trends and strategies out there in the job market. Here are the LinkedIn experts who you should follow on these matters.

1. Liz Ryan is the CEO and founder of Human Workplace. Her articles on job searching are filled with creative and colorful cartoons.

2. Lou Adler is the author of The Essential Guide for Hiring and Getting Hired.

3. Dr. Marla Gottschalk will help you make an impact in a new job.

4. Hannah Morgan runs CareerSherpa.net, where she gives expert advice on job searching and how to be more visible online.

5. Alison Doyle is the CEO and Founder of CareerToolBelt.com.

Management Experts

They say that people leave managers, not jobs. These experts in LinkedIn will help you become your employees’ dream manager.

6. Jeff Weiner. How can we leave out the CEO of LinkedIn himself?

7. Nozomi Morgan is an executive coach. She can help you transition from a boss to a true leader.

8. Mickey Mikitani is the CEO of Rakuten. He constantly shares his expertise in managing a global player in e-commerce platforms.

9. Andreas von der Heydt was the head of Amazon’s Kindle Content and now the Director of Talent Acquisition. He has extensive experience in management, branding, and marketing.

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Productivity Experts

By maximizing your productivity, you can win in all aspects of life. The following LinkedIn experts will help you win big in your career.

10. Gretchen Rubin is a happiness coach and the bestselling author of the The Happiness Project.

11. Carson Tate is the founder of Working Simply. She advises us to include play in our schedules.

12. Greg Mckeown is an essentialist. Part of being an essentialist is saying no to many things so that we can focus on the things that matter.

13. Brian de Haaff, CEO of Aha! Labs Inc. provides strategies on how to be productive and happy at work at the same time.

Marketing Experts

14. Sujan Patel is VP of Marketing at When I Work, an employee scheduling software. He is an expert in content marketing and he even shares his ideas on content marketing in 2020.

15. Megan Berry is the Head of Product Development at Rebelmouse, a content marketing and AlwaysOn powerhouse.

16. Sean Gardner will help you navigate the social media landscape. This includes how to use different platforms to help accelerate your career. He is also the bestselling author of The Road to Social Media Success.

17. Christel Quek is an digital and marketing expert. She is the VP of South East Asia at Brandwatch. Their products help businesses utilize social media data to make better business decisions.

18. Jeff Bullas is a digital marketing expert. His blog has over 4 million readers annually.

19. Michael Stelzer is the CEO and Founder of social media powerhouse site, Social Media Examiner.

20. If you’re looking for inbound and content marketing expertise, follow Dharmesh Shah, Founder and CTO of Hubspot.

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21. David Edelman is a McKinsey partner and is at the helm of the Digital Marketing Strategy Practice Department.

22. Dave Kerpen leads the social media software company Likeable Local. He is the author of Likeable Social Media: How to delight your customers.

23. Clara Shih is the CEO of Hearsay Social and the author of The Facebook Era.

24. Aaron Lee is Grand Master of Customer Delight at Post Planner. He is an excellent resource for everything social media.

25. David Sable is the CEO of Y&R, one of the largest advertising firms in the world.

26. Content marketing trumps traditional marketing these days, and who else better to lead you in this area than Joe Pulizzi, Founder of Content Marketing Institute.

Personal Branding Experts

Part of what we market in our personal career is our brand. When people hear your name, what kind of brand comes into their mind? What traits and qualities do they associate with you?

Here are some personal branding experts from LinkedIn to improve your own brand.

27. Dorie Clark is the author of Stand Out and Reinventing You. He can help you craft the professional image you’ve always wanted.

28. Dan Schawbel is the managing partner of Millennial Branding. If you’re a millennial, Dan is the guy to help you craft your personal brand.

Other Notable Experts to Follow

29. Lisa Gates is the expert to follow if you’re negotiating for higher salaries and promotions.

30. If you’re a Baby Boomer, Marc Miller will help you navigate the continually changing landscape of the workplace.

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31. To avoid getting your resumé moved to the “No” pile, read Paul Freiberger’s excellent advice.

32. James Caan provides insightful ideas on careers in general. He is also a serial entrepreneur.

33. Jeff Haden writes on various topics, such as leadership and management. He is the owner of Blackbird Media.

34. If you’re looking for expert business advice on getting new customers and keeping them, follow Jay Baer.

35. Suzanne Lucas, aka Evil HR Lady, is a great human resources specialist.

36. If you need help in using Twitter to boost your career, Claire Diaz-Ortiz can guide you in the right direction.

37. Ryan Holmes is the CEO of Hootsuite, a social media management tool.

38. Customers are the lifeblood of a business and Colin Shaw focuses on revolutionizing this customer experience.

39. Brian Solis often reflects on the future of business and how technology can disrupt our world.

40. Nancy Lublin provides advice on more lighthearted topics, which are perfect after a long day’s work. She is the CEO behind Dosomething.org, a portal designed for social change; and the founder & CEO of Loris.ai and Crisis Text Line.

41. Katya Andresen provides advice on how to manage your career. She was the CEO of Cricket Media and now responsible for the SVP Card Customer Experience at Capital One.

42. Gallup has created a system to test what your strengths are and how to use them at work. Jim Clifton is the CEO of Gallup.

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43. Adam Grant is a Wharton Professor and the author of Give and Take, which provides advice on why being helpful at work can accelerate your career.

44. Hunter Walk is a partner at Homebrew Venture Capitalist Company and has specialty in product development and management.

45. If you’re running a nonprofit organization, follow Beth Kanter for expert advice on this area.

46. Emotional Intelligence is necessary to succeed in your career, and Daniel Goleman is your expert for that.

47. Rita J. King connects science, technology and business.

48. Tori Worthington Rose is a Creative Director at Mary Beth West Communications, LLC. She has extensive experience in sales and digital media.

49. If you’re looking for some advice on how to use writing and personal content marketing to boost your career, follow Ann Handley.

50. Tim Brown is the CEO at IDEO and shares his insights on Leadership and Creativity.

These are just some of the key thought leaders and movers in various industries. They will provide you with constant inspiration, as well as the willpower to pursue the career that you’ve always wanted. Their stream of expert ideas in their respective fields will help you become well-equipped in your professional pursuits.

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Featured photo credit: LinkedIn Sales Navigator via unsplash.com

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