3 Things We Learned About Business The Hard Way
There is so much going on in a business and often time it is overwhelming. You don’t know what the right move is. You are unsure about the direction of the business because it keeps on changing. Then when its not changing you are nervous that whether what you have stuck to is right or not. In short it is a mess.
We at Aitomation have recently passed through these stages (mess) and have found that the only way you truly learn is by doing. Still you need to be smart about what you are learning and what is already out there for you to use. The distinction is a simple yet subtle one. It is important to know that certain things come only with experience. Then it is important to know that certain things have already been done and the manual for doing so is already there. You don’t need to re-invent the wheel as they say. They are right. It is very important to not make these mistakes that we made. Our hope is that young entrepreneurs just starting out can learn from these 3 mistakes and make their product and brand go faster.
1)Focus on marketing
We as entrepreneurs have a habit of over-emphasizing our product and revolving everything around it. We take great pride in the new features that it offers. We feel great honor in introducing new features that our competitors don’t have. This is all good. However often times we forget the most important thing. Marketing and selling the product. See, you could have the most amazing product in the world but if no one is using it then it’s a failure. You need people to use your amazing product. You need lots of customers for it to be a success. For that you need to market. So just as important as anything else is marketing in business. Seems obvious enough but many people like us forget about this portion and focus too much time and energy on the product alone. Don’t make this mistake.
2) Don’t hire too quickly
Due to the recent rise in outsourcing and the coolness of having of a lot of virtual assistants or personal assistants. We often forget how important it is to be master of the skill you want to hire someone for. Even if not a master to understand it so thoroughly that you could utilize that person to the maximum. To understand what it is they are going to do. For that we recommend don’t hire too quickly. We recommend you do the task yourself many times and then of-course as you understand the intricacies of it and feel assured enough that you can do the task, only then pass it on to someone else. Don’t be in a hurry to hire, it is a huge decision.
3) Keep your finances organized from the start
Many companies especially young ones don’t feel the need to have a proper accounting system or use an accounting software. The reason, they don’t feel the need. They feel that the company is not earning too much and the company is not generating so much profit so they can put if off to a later date. Don’t make this mistake. You should from the very start know what expenses your company has, even if they are little. You should not take it lightly and put it off at a later date. This will only create more problems. Trust us on this one. Start managing your accounts from the get go.