How Not to Start a Business
Business advice from a failed entrepreneur
I’ve always known I wouldn’t thrive as someone’s employee. “I’m never going to work,” I once told my mom. I didn’t mean I was going to do nothing all my life and rely on others to take care of me. I meant that I had no desire to work for somebody else.
For the first few months after graduating from university, I was unable to find a job. I was applying to various marketing agencies in London but never got hired. Then, the pandemic stroke and I relocated back to my home country. Instead of finding employment, I started freelancing as a ghostwriter for bloggers. During this time, I tapped into my entrepreneurial spirit and decided to start a business.
Well, I originally started out as a freelance virtual assistant for bloggers. At this time, I got introduced to the world of ghostwriting because it’s the most sought-after service among bloggers. I guess I was too snobby to be someone’s assistant. So the original plan of being a freelancer changed to a virtual assistant agency focused on ghostwriting.
Not that bad yet, huh?
I had a few clients at this point and a subcontractor. The problem was that all of our clients were from various niches, and any new client would require me to find a new ghostwriter who would be able to write in that particular niche.
And so, I decided to niche down. Since I had been blogging about fashion for about three years, I thought it might be the right niche for my new business. Alas, a little bit of research showed me that most fashion bloggers no longer maintain written blogs and focus on social media platforms, and therefore do not need ghostwriters.
Okay, what now?
Quite frankly, I was fed up with ghostwriting at this point. I figured that fashion brands would be more profitable clients than fashion bloggers. And so I switched my focus. But how could I help them? In those few years of working with brands as a blogger and influencer, I could pinpoint what those brands were doing wrong in influencer marketing. I started taking influencer marketing courses and began reaching out to prospects.
At first, I was offering my services for free in exchange for a testimonial. I was upfront about my lack of experience. After two and a half months and over one thousand pitch emails and DMs, I got either ignored, rejected, or ghosted by business owners who seemed interested at first.
I was exhausted, discouraged, and so I decided to quit.
How Not to Start a Business
Despite my intention not to make any mistakes on my entrepreneurial journey, I made a plethora of errors. I believe that my main mistake was the obsession with not making any mistakes. You will make mistakes, especially when you are doing something for the first time. That’s how you learn. Here are all of my mistakes, lessons, and, well, things not to do when starting a business.
1. Start your business to impress others
In hindsight, I’ve always had an entrepreneur in me. I kept coming up with business ideas since my early teenage years. I never pursued any of them because I didn’t have the means to do so back then.
I believe that had I continued studying influencer marketing further and kept marketing my little wannabe agency, it would have taken off eventually. But I realized I wanted to be the boss and the CEO just because I wanted to prove something to someone. At the end of those two and a half months, I realized I hated waking up every morning and working on my business.
By leaving this venture, I’m not saying farewell to entrepreneurship forever. When I come up with another idea, I will make sure it’s something I see as valuable.
Do this instead: Start a business because you want to help someone.
Wanting to be a CEO or the founder of something just because you want to impress others is the wrong way to go about things.
You don’t have to be passionate about your venture. But you should be interested in what you do and start your business to help people. Otherwise, you might spend the next few years hating your work life.
2. Succumb to shiny object syndrome
Had I stuck with the ghostwriting business, I might have been in a completely different place right now. And yes, ideas evolve, but sometimes, it’s shiny object syndrome.
“Shiny object syndrome is the situation where people focus all attention on something that is current and trendy, yet drop this as soon as something new takes its place.” — Wikipedia
In the business sphere, it means trying out new growth strategies too often or trying different businesses altogether. Essentially, you’re running an online marketing agency, but then you see someone making millions from their dropshipping business. You think dropshipping will be an easier and more profitable option, you drop your agency, only to find yourself back at the very beginning.
Do this instead: Pick a business to start and don’t look left or right.
They say that the grass is always greener on the other side. It might be true. But it also might just be your perception.
Just because someone is making millions of dollars from their dropshipping business doesn’t necessarily mean it’s easier than running an agency. By constantly starting different businesses, you’re staying at the start line and not moving anywhere. If you want to get somewhere, you’ll have to kick shiny object syndrome in the ass.
3. Dive into fields in which you have no previous experience
By the time I graduated from university, I had been learning about content and social media marketing for years. I was running a blog and dipped my feet into the world of influencers. I did have ‘some’ experience, but it just wasn’t enough.
My lack of experience and the fact I studied creative writing instead of marketing prevented me from landing a job in the field. Before my departure, I applied to dozens of marketing jobs in London. I put together several presentations on marketing strategies as a part of the recruiting process, only to get rejected every time.
My lack of experience manifested as an insane amount of self-doubt when it came to promoting my business.
Do this instead: Stay within your zone of genius.
I’m not saying you should never branch out and try something new. But before you offer a new service, make sure you have some previous experience in the field. Not only will you be more equipped to deliver results, but you’ll also believe in your abilities. Some say, “fake it till you make it”. But should you?
Final Thoughts
Those are a few startup mistakes I’ve made. I’m pretty sure there are more I don’t realize I’ve made.
Don’t be afraid of making mistakes. Paradoxically, forbidding yourself from making errors might be the biggest mistake you make. The important thing is not to make the same mistake twice.
I’m not the most experienced entrepreneur, but I can tell you that there is no blueprint to starting a successful business. Everyone’s journey is individual, filled with unique opportunities.
