Costly Mistakes To Avoid As A Small Business Owner

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Costly Mistakes To Avoid As a Small Business Owner

No one is perfect and neither is your business, things will never be one hundred percent smooth and you will make mistakes; while some mistakes are inevitable to foster the learning process, nonetheless, there are a few costly mistakes to avoid as a small business owner. This is one of the main reasons why mentors are important as they guide the way based on their experiences. 

Here are three costly mistakes to avoid as a business owner at the starting line. 

Don’t Execute Without a Plan

Whether it is your passion or you are in for the dollars, success and sustainability are not possible without a plan. Business is not the place where you just go with the flow; there must be a vision for the business and this must be layered into goals and objectives which guide your team on a day to day basis. 

No Man Is An Island, No Business Stands Alone 

You may be a sole trader but do not be mistaken, you cannot do it all by yourself. Running a business requires collaboration, communication and some form of togetherness. There are so many functions to anchor and undoubtedly there are times when you will be overwhelmed and crave support. Not only is it an attempt at failure to try and be a superhero, but it also restricts ideas from others which will help to inspire creativity for the growth of the business. 

Making Assumptions About Your Target Group And The Industry

Research is of paramount importance. Many entrepreneurs don’t even make the time to understand these key tenets of the business. It does not matter if your business is your passion, there is more that needs to be done. The business’ purpose is to meet a need, therefore you must understand that need and those who are affected in a sufficient manner. While knowledge gaining is continuous, having a base will help you to make decisions that will benefit the customer and the business. Spend time to research the profile of your target group and the structure of the industry. With this knowledge set, you will be able to position your business differently and operate from a more impactful space. 

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Mohan Beckford

Mohan Beckford

Mohan Beckford is a serial digital entrepreneur with over 12 years of experience in helping businesses in Jamaica, the Caribbean, and North America to maximize their growth within the digital environment. With a deep understanding of the digital marketing landscape, Mohan provides expert consulting services to help businesses make the most of their online presence. Whether it's developing a social media strategy, improving website conversion rates, or growing an email list, Mohan can help you achieve your business goals.

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Annakay Lowe-Stultz
Annakay Lowe-Stultz
Total Care Wellness And Rehab Solutions Ltd.
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I would love to say that Mohan and his team were exceptional in providing me with my website. Working with the team throughout the process was awesome. They were extremely professional, quite patient, and tolerable of me going back and forth 🤦🏾‍♀️. Mohan also helped me to see things differently by encouraging me to get other add-ons (at a reduced cost) that can enhance my business growth. This company genuinely wants to help small businesses like mine, and that is enough for me. I'll be forever grateful for their help and definitely keeping them as my go to person.
Karen Diop
Karen Diop
The Network for the Advancement of Black Communities
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NSDS has been a valuable partner that allowed us to deliver our digital conference in a timely and professional manner. The team has been extremely flexible and client oriented at all time. I would highly recommend NSDS digital services and will probably collaborate again with them in the future.
Ophellia McKnight
Ophellia McKnight
The Destination Collective
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Five years ago when I met Mohan, I didn't realize that Next Step Digital Solutions would become and integral part of my business expansion and development. I was just looking for a tech guy who could fix the things I did not understand or want to learn! Next Step Digital Solutions is everything to my business and I would not be this successful building my brands and that of my clients' without their input. Thank you Mohan, you are my most powerful chess piece!
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