#66 The biggest mistake business owners make
I’ve worked in litigation for the first 12 years of my career. I’ve seen businesses and livelihoods destroyed because of preventable mistakes. I’m on a mission to save you from these same mistakes and not fall into the 60% of small businesses that fail in the first 3 years.
In this episode, I’m sharing the biggest mistake I see business owners make again and again.
Thinking you need to do everything yourself!
Things start falling through the cracks when you’re trying to do everything and wear all of the hats all of the time.
But don’t worry, I’m here to help! Managing risk is part of our job as business owners and by addressing this big issue you’ll be able to protect yourself and your business from potential lawsuits and disgruntled clients.
Take this opportunity to reflect on how you’re running your business and how you can improve it dramatically by building a support network and asking for help.
Remember, no matter how great you are - you’re not multiple people. Get help from the experts in their field and sleep easy knowing you’ve got everything covered.
TOPICS DISCUSSED AND WHERE TO FIND THEM:
[1:55]: Mistakes are a part of every business journey. We should embrace the experience, learn from them and move forward.
[2:32]: 60% of small businesses fail within the first 3 years.
[3:50]: Check out the Resources page of my website to find out more and sign up to the email list.
[4:06]: The number 1 mistake that business owners make time and time again is not surrounding themselves with the right people and thinking they need to do all of the things themselves.
[4:28]: This can be done by refusing to outsource or hire a team, not prioritising themselves and not recognising the value in asking for help.
[6:22]: If you won’t look to others for help, you’re loading so much pressure on yourself and it’s limiting your growth.
[7:02]: Things start falling through the cracks when you’re trying to do everything all of the time.
[7:57]: The first 12 years of my career were spent in litigation and dispute resolution. I’ve seen businesses and livelihoods destroyed because of the pressure. Most of what I saw could’ve been avoided.
[9:02]: Limiting beliefs surrounding doing everything ourselves as business owners are unsustainable and things will start to break down.
[10:38]: Grow your team and think big.
[10:51]: Managing risk is what we do as business owners.
[12:46]: I send emails fortnightly jam-packed full of information and value. Sign up to the list now.
LINKS:
Check out my course Getting Paid Made Easy here
Get your copy of my Annual Legal Checklist here
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