In this article you will know 5 mistakes when creating company that many people commit and that you should avoid.
According to Gallup, 400,000 new businesses are created in the United States every year, which seems very encouraging. The point is that every year, 470,000 businesses die and only 50% survive after the first 5 years.
This is not intended to discourage, quite the contrary! This just shows that taking the right steps you will have less and less competition.
After analyzing so many failures, mistakes can be identified when creating a company that no entrepreneur should make; if you want to get away from this “terrible” statistic.
5 mistakes when creating a company that you must avoid to succeed.
1. Not having an email marketing strategy.
When we study the most successful startups in the world today, we notice a trend: most of them start by capturing emails from their users, and many do email marketing.
In fact, the e-commerce giant, Amazon, is renowned for its sophisticated approach to email that contributes a lot to its revenue.
If you don’t know what email marketing is and want to learn how to do it, click here.
2. Not using the principle of familiarity.
In a 2008 study published by ScienceDaily, titled Effects of Unconscious Exposure to Ads, it was revealed that we are largely influenced by our constant exposure to certain products and brands; even without being aware of this exposure.
When you see your favorite actor using a particular product, you tune in to the TV to see the same product advertised, and then you go online and find the same product advertised; gradually, subconsciously, you begin to develop a taste for that product.
This is the principle of familiarity in action, and new entrepreneurs who ignore it do so at their peril.
When no one knows about you or your products, it’s even more important to use the familiarity principle. Make sure that potential users are constantly exposed to your brand until they can no longer forget it.
If you expect them to come “just because”, they won’t. You need to convey the message about your brand and your products on different channels.
Use as many media as possible (as long as it has positive repercussions for your brand), paid and free, to repeatedly introduce your products to your target market. This will result in brand likeability and eventually sales.
Do you think this is not an option for you? Do not worry, there are still other mistakes when creating a company that you can avoid.
3. Not having an outreach strategy.
Every great startup today leveraged on constant media exposure. If you can’t get media coverage yet, you can write posts on top sites as a thought leader and link to your website.
This is called guest blogging and can be used to capture the attention of influencers and key users in your industry.
Do you have a product and no customers? Look for blogs where you can provide quality information to readers and at the same time show your product.
For example, Alex Cormani, professor at the bachelor’s and master’s levels of innovation, startups, and business models at the Autonomous University of Yucatán; He has written articles on the ModoEmprendedor blog to promote his great book “Your business model in just 7 days”.
4. Not having a blogging strategy.
According to Hubspot statistics, businesses with blogs get 67% more leads and 97% more links than businesses that don’t.
You must keep in mind that it is useless to have a blog that you are not going to dedicate time to. Consistency is essential, as is the quality of information you give your readers.
If you are wondering how to create a blog, don’t worry. It is very simple and you should not have technical knowledge.
5. Try to sell to everyone.
This is one of the most common mistakes when creating a business. Do not pretend that your customers can be all people, since you’re basically not targeting anyone. And most likely, you are heading for failure.
All great businesses start with a small subset of people, with a specific audiencebefore becoming great.
Why do I say that you are not targeting anyone? It’s simple, if you launch a campaign, for example on Facebook, it is very difficult for the same message to “resonate” with everyone, and the result will be that you did not get a strong response that translates into relevant sales.
Apart from sales, you will also not have brand recognition that matches the creative and economic efforts of wanting to “reach the whole world”.
The recommendation is that identify the niche for your product. I give you an example. The Tinder app. If you wanted to meet other people you could do it on Facebook, in fact there are many more users on Facebook.
The success of Tinder lies in the fact that they focus exclusively on people who are looking for relationships. So all communication is focused on getting their attention.
Don’t make the mistake of marketing to everyone; while big brands can pull it off, it doesn’t work for startups. Start by defining your unique selling proposition, create an audience profile, and “attack” that target audience.
Conclusion.
The mistakes when creating a company that we saw before, are born from analyzing why so many new companies fail.
As you saw, “advertising” is very important to leverage sales, but as you well know, it can be very expensive. However, do not hesitate to help yourself with a blog, whether it is yours or writing as a guest. Blogging is key.
We hope this information will be of great help to you 🙂
And remember, if you are really interested in creating your own business, you can purchase our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
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