Entrepreneurship can be difficult no matter how you look at it. It is almost impossible not to make mistakes, there are so many roads you can take and so much advice out there telling you what to do. While I think “mistakes” or “failures” can be a good learning experience, there are common ones that we don’t need to repeat. I am a firm believer that if you can learn from other people, then do it! It will save you a lot of time and heartache.
Being a woman entrepreneur, I find myself in the company of many amazing women. Some of them at the top of their field in corporate america, and others running the show at their own businesses. Being an entrepreneur is its own beast, and there really is no cookie cutter way to success. Even still, I have seen (and even committed) some very common mistakes that seem to fall upon women entrepreneurs a lot.
It is my hope that we can uplift each other and do our best to demolish these common mistakes! If one woman reads this post, and decides to change her direction, then my job will be done.
6 Common Mistakes Made By Female Entrepreneurs:
They Think It’s All About Them
This may come as a surprise, but your business is not about you! If you have lined your business up with your purpose, then your business is about your supporters. One common mistake I see are entrepreneurs getting wrapped up in themselves…wanting to receive all the glory of their business and accomplishments. You know the ones. The ones searching for acclaim, fame, and fortune.
A self-centered entrepreneur is not something we should aspire to. The truly successful and fulfilled entrepreneurs, find ways to serve their communities or the people around them. Businesses with a mission bigger than just turning a profit, make a mark on the world. They are remembered.
They Are Impatient
Patience is a virtue as we all know, and impatience is the death of a dream. We need to get out of the habit of expecting overnight success. I am currently reading a book called “The Defining Decade”, and in it there is a quote that says we do not talk about failures enough. What we see mostly, are people that have “made it”. We do not see the struggles they went through to get where they are today. Because of this, there is this lop sided perspective on how long it takes to become successful. It seems like it is overnight. However, i’m certain if we had a sit down with any very successful person, they will most likely break it to you quickly. They went through years of no, years of failure, and years of good old fashioned hard work before they got to where they are today.
So often, we give up right before we are about to breakthrough to the next level. Even worse, sometimes we never give our ideas a real chance. It usually takes months of trying something (at minimum) before you can truly assess if it’s a good idea or not, so take your time, be patient, and don’t fall for this common mistake!
They Think They Can Do It All Alone
Now i’m as independent as they come, and I don’t think there’s anything wrong with wanting to handle things yourself. However…There is no successful person that did it all on there own. There are people that came along, gave them advice, mentored them, partnered with them, and the list goes on. We have to uplift each other! We have to connect and use our varied talents to build amazing platforms. We can go so much farther if we work together, and I see so many women entrepreneurs missing valuable opportunities by attempting to do everything on their own.
They Work Too Much
Boy oh boy, do I have to admit I’ve committed this one. When I first started my videography business…I worked so much it was seriously ridiculous. I thought the harder I worked, that “more successful” I was. No. This is so far from the truth it is not even funny. Society tells us that we have to work work work, if we want to make anything of ourselves. But more people are emerging to say no to that way of thinking, and I am 100% on board with that!
To me, it is really all about balance, and I had to learn the hard way that working too much only burns you out, and will hinder your success. You have to take time for yourself! I have seen countless women entrepreneurs fall down on this one, working day and night towards their dreams, don’t overdo it!
They Don’t Charge What They Are Worth
I’m sure you knew this was coming. Charging what you are worth is such a hot button issue among women entrepreneurs. I do think we have to admit that part of it may stem from the fact that there is still a major economic discrepancy between women and men. Due to the way we are treated in the workforce, perhaps were are just used to getting paid less than what we should. It’s no wonder we have a hard time asking for what we are worth in business, even when WE have all the power. There are countless reasons why we have to stand firm on our prices. We have to believe in the value we bring, charge fairly, and stick by that price! We have to make sure we display our value effectively also. It will do your business so much good, be strong on this one!
They Don’t Invest In Themselves
There are so many people out there that want to make it in their field, but they don’t take the time to invest in themselves. I will say also, that there is no super successful entrepreneur out there that does not constantly invest in themselves. This does not always mean investment in the sense of money either. There are many things you can do to invest in yourself that are very inexpensive, like reading for example. Reading is very dear to my heart, there is so much you can learn! And I mean actual books too not just articles. Reading a book about something will change your life, and it is a huge investment into yourself. But even still, we should not shy away from monetary investments either. You should invest in your brand, your visuals, your brain, your soul—everything! The more you invest in yourself, the better you will be and that is so important to the life of your business and your overall happiness.
While there is no cookie cutter road to success, there are common mistakes that we can avoid! Learn from others, and you will be well on your way!
What do you think? What are some common mistakes that you’ve seen entrepreneurs commit? Let us know in the comments below!