Hard Entrepreneurial Truths: My 6 Major Business Mistakes & 11 Valuable Lessons from 2024
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- Опубліковано 7 лют 2025
- ðŸðŸŽðŸðŸ’ ð°ðšð¬ ðð¡ðž ð²ðžðšð« ðˆ ð¥ðžðšð«ð§ðžð ð¬ð¨ð¦ðž ð¨ðŸ ðð¡ðž ðð¨ð®ð ð¡ðžð¬ð ð›ð®ð¬ð¢ð§ðžð¬ð¬ ð¥ðžð¬ð¬ð¨ð§ð¬-ð¥ðžð¬ð¬ð¨ð§ð¬ ðð¡ðšð ðœð¨ð¬ð ð¦ðž ðð¢ð¦ðž, ð¦ð¨ð§ðžð², ðšð§ð ð©ðžðšðœðž ð¨ðŸ ð¦ð¢ð§ð. ðˆðŸ ð²ð¨ð®'ð«ðž ðšð§ ðžð§ðð«ðžð©ð«ðžð§ðžð®ð«, ðˆâ€™ð¦ ð¬ð¡ðšð«ð¢ð§ð ðð¡ðžð¬ðž ð¦ð¢ð¬ððšð¤ðžð¬ ð¬ð¨ ð²ð¨ð® ðð¨ð§â€™ð ð¡ðšð¯ðž ðð¨ ð©ðšð² ðð¡ðž ð¬ðšð¦ðž ð©ð«ð¢ðœðž ðˆ ðð¢ð.
As I navigated my journey in business, I realized that entrepreneurship isn’t a straight path; it’s a dynamic process that requires resilience, adaptability, and a growth mindset.
Through years of experience in business development, strategic investing, and scaling startups, I’ve learned the critical importance of leveraging opportunities and making data-driven decisions. Whether it’s identifying profitable investment ventures, mastering financial management, or building strong business networks, every decision plays a role in long-term success.
My journey has taught me that embracing failure, learning from mistakes, and staying committed to your vision are key drivers of sustainable growth and financial independence.
If you’re passionate about business growth, smart investing strategies, and the entrepreneurial mindset needed to thrive in today’s economy, this is the roadmap I wish I had when I started.
ð“ð¡ðž ð¯ð¢ððžð¨ ðœð¨ð¯ðžð«ð¬ ðð¡ðž ð¬ð©ðžðšð¤ðžð«'ð¬ ð¤ðžð² ð›ð®ð¬ð¢ð§ðžð¬ð¬ ð¥ðžð¬ð¬ð¨ð§ð¬ ðŸð«ð¨ð¦ ð¦ð¢ð¬ððšð¤ðžð¬ ð¦ðšððž ð¢ð§ ðŸðŸŽðŸðŸ’. ð‡ðžð«ðžâ€™ð¬ ðš ð¬ð®ð¦ð¦ðšð«ð² ð¨ðŸ ðð¡ðž ð¬ð¢ð± ð¥ðžð¬ð¬ð¨ð§ð¬:
ðŸ. ð’ððšð«ðð¢ð§ð ðš ð’ðžðœð¨ð§ð ðð®ð¬ð¢ð§ðžð¬ð¬ ð“ð¨ð¨ ð’ð¨ð¨ð§: The speaker launched a second business before fully stabilizing the first, which led to distractions, loss of momentum, and eventual failure. The key takeaway is to focus on one business until it's automated and doesn’t require constant attention.
ðŸ. ð‹ðšðœð¤ ð¨ðŸ ð“ðžðœð¡ð§ð¢ðœðšð¥ ð„ð±ð©ðžð«ðð¢ð¬ðž: The second business, a lead distribution company, failed partly because it required technical expertise that neither founder had. Outsourcing core product development proved ineffective, highlighting the importance of having in-house expertise for technical ventures.
ðŸ‘. ðŽð¯ðžð«ðœð¨ð¦ð¦ð¢ððð¢ð§ð ð°ð¢ðð¡ ðš ð“ð¡ð¢ð«ð ðð®ð¬ð¢ð§ðžð¬ð¬: Starting a third business-a digital advertising agency for painting companies-further diluted focus and resources. The failure reinforced the need to avoid diversifying out of boredom and to commit fully to one business at a time.
ðŸ’. ðŽð®ðð¬ð¨ð®ð«ðœð¢ð§ð ðƒð¢ð ð¢ððšð¥ ð€ðð¯ðžð«ðð¢ð¬ð¢ð§ð ðˆð§ðžðŸðŸðžðœðð¢ð¯ðžð¥ð²: Repeated attempts to outsource digital marketing failed due to budget mismanagement and a lack of foundational knowledge. The speaker plans to personally master digital advertising to manage and evaluate future outsourcing efforts effectively.
ðŸ“. ðð«ðžð¦ðšðð®ð«ðž ð‚ð‘ðŒ ðƒðžð¯ðžð¥ð¨ð©ð¦ðžð§ð: Attempting to build a custom CRM system too early in the business lifecycle was costly and inefficient. The lesson learned is to rely on established CRM solutions until the business reaches a stage where custom development is truly necessary.
ðŸ”. ð–ðžðšð¤ ð‹ðžð ðšð¥ ð€ð ð«ðžðžð¦ðžð§ðð¬: Ambiguities in partnership contracts led to legal disputes, emphasizing the importance of strong, clear legal agreements. While prior contracts provided some protection, the speaker realized the need to improve legal literacy and ensure bulletproof agreements in all business dealings.
ðŽð¯ðžð«ðšð¥ð¥, ðð¡ðž ð¯ð¢ððžð¨ ð«ðžðŸð¥ðžðœðð¬ ð¨ð§ ðð¡ðž ðœð¨ð¬ð ð¨ðŸ ðð¢ð¬ðð«ðšðœðð¢ð¨ð§, ðð¡ðž ð¢ð¦ð©ð¨ð«ððšð§ðœðž ð¨ðŸ ðŸð¨ðœð®ð¬, ðð¡ðž ð¯ðšð¥ð®ðž ð¨ðŸ ð¢ð§-ð¡ð¨ð®ð¬ðž ðžð±ð©ðžð«ðð¢ð¬ðž, ðšð§ð ðð¡ðž ðœð«ð¢ðð¢ðœðšð¥ ð«ð¨ð¥ðž ð¨ðŸ ð¬ðð«ð¨ð§ð ð¥ðžð ðšð¥ ðšð§ð ð¨ð©ðžð«ðšðð¢ð¨ð§ðšð¥ ðŸð¨ð®ð§ððšðð¢ð¨ð§ð¬ ð¢ð§ ð›ð®ð¬ð¢ð§ðžð¬ð¬ ð ð«ð¨ð°ðð¡.
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🎥 Filmed & Edited by Brad Samuels 🎥
Great video! Thank you for the share. I learned a lot! 😊