Three Mistakes I Wish I Had Avoided As A New Entrepreneur

Launching Coaching for Transformers (as a coaching practice) in 2017 feels like a past life now not only because it has been quite a few years since my very first website went live but also because of how much I have changed since those early entrepreneurial days. If I had superpowers and could turn back time, I would do things differently and this is exactly what I am writing about today. Having said that though, I believe our journey serves a purpose and had I not made these “mistakes”, I would not have grown and adopted a different approach when I re-launched the business as a digital platform in 2021. Whilst things do happen for a reason (this belief has helped me overcome some of my most testing moments), here are three mistakes I wish I had avoided and what I would have done instead.

1. Investing in no-revenue-generating activities 

Expensive member's clubs 

One of the first investment decisions I made upon launching my coaching practice in 2017 was to join a private member’s club in an affluent part of London where I could host events and promote my coaching services. I knew nothing about building a business and had not even clearly identified my niche, yet I made the investment and started to host free events on various topics. I was promoting the events on Eventbrite and even though people would attend some of them, they were not ideal clients, so I was not making any sales. 

Starting to build a community early on is an essential part of creating success in your business; and, hosting talks and events is a great way to promote your brand. However, if your intention is to monetize your audience by selling a service or a product to them, it is important to know who you are talking to (aka who your target clients/ customers are) and how exactly you are going to help them through your offering. Being clear on who you are being as a brand, what you stand for and how you serve your customers allows you to select brand-pillar topics for your events/ talks, which convey your message, promote your work and attract the right people to your audience. Then, should you decide to invest in a private member's club, you can identify membership options (physical or virtual) that would enable you to meet potential clients, network with other business owners in similar or complementing niches, or receive support with growing your business.

Expensive custom-built websites

Another investment I wish I had avoided was hiring a studio team to design and create my first website. Nowadays, there are great website builders that are free (Wix.com) or involve a rather inexpensive monthly fee and they still allow you to create professionally-looking websites that represent your brand well. Upon re-launching my business as a digital platform, I chose to use Kajabi which is a great option for digital creators, coaches, experts and thought leaders who are looking to monetize their knowledge and skills (you can try them out free of charge for 30-days here). Do not get me wrong - I would invest in working with a team of professional website builders once I have validated my concept, product or offer if I was selling a service and have the budget to invest. 

2. Not hiring a coach early on 

As a coach who had built a successful corporate coaching and training career, I let my ego get in the way and convince me I could figure it out all by myself. Not only did I not hire a coach to help me deal with my impostor syndrome and self-doubt, but I did not even invest in getting help with the business-building side of things such as creating a solid business model and strategy to support my revenue generation efforts.

Your mindset is where your success starts. The earlier you identify your fears and blocks, the earlier you can release them and gain the confidence you need to consistently market yourself and your business ( if you are not confident in what you are offering as a product or service, you subconsciously convey that energy and people sense it).  Hiring a personal coach is an excellent way to fast-track the growth process you need to go through as an entrepreneur to make consistent progress and reach your vision. One of the reasons I struggled with choosing a niche when I started out was listening to that little voice in my mind which would tell me: “who are you to help them with this?”.

When I re-launched the business in 2021 after pressing the pause button for almost a year (you can read more about my journey here), I still had a lot of inner battles to conquer and chose to work with energy healers and coaches to help move past these inner limitations. Having had multiple failures (even the second time around) taught me how important it is to adopt a holistic, balanced and strategic approach to growing your business. Some people favor the “24/7 hustling” approach to growth while others are “waiting for the Universe to bring them success”.  I tried them both disjointedly and did not succeed. Combining the world of spirituality and wellness with practical, proven business-building strategies will help you grow in a healthy and sustainable way (take this from someone who struggled with mental health as a result of working 60-hour weeks to get her business off the ground as a solo founder). 

3. Not building a brand from the get-go

When I talk about branding to aspiring and new entrepreneurs, they often tell me that the first thing that comes to mind when they think about their brand is its visual representation (logo, colour palette, etc). Yes, the visual representation does matter but your brand is so much more than its logo and imagery; it is the essence of your work and why you do it.

Every business has a story. Every business exists to provide a solution to a problem. Every business fills a physical or an emotional need. What made you launch it? What does your business stand for; what do you stand for as its founder or as an expert in your field? What is the key message you are conveying to your audience? Why?

I did not have answers to these questions when I created Coaching for Transformers in 2017 nor did I focus on understanding and conveying the essence of my brand. So, when I took a leap of faith and decided to start over, building a brand from the get-go was what enabled me to start generating revenue straight away and attract incredible opportunities and partnerships that have helped grow the platform. Inside the conscious collaboration hub (my membership for founders and entrepreneurs), we focus heavily on building authentic brands and growing through collaborating with other business owners. Based on my experience, this is a useful way to grow your business and benefit from the mental and emotional support that comes with being part of a community of like-minded founders. 

Key Takeaway

If you've already built a successful career as a professional and venturing into the exciting world of the unknown (= entrepreneurship), be conscious of when your ego tries to convince you that you can do it all alone without this having a toll on your mental and emotional well-being. You've got what it takes to build your dream business (never doubt that) but why do it alone if you can grow faster and in a more sustainable manner when you invest in the right support from the beginning?