Starting a business can be one of the most exciting decisions of your life—but it can also be overwhelming. Many first-time entrepreneurs step into the world of business filled with passion and vision but end up struggling because of simple, avoidable mistakes.
At Salmon Global Academy, we believe in empowering future business leaders with real-world knowledge and practical skills. In this blog post, we’ll explore the most common mistakes new entrepreneurs make—and share expert advice on how to avoid them.
1. Starting Without a Clear Business Plan
The Mistake: Many entrepreneurs dive in with an idea but no written plan. They skip the essential step of mapping out their goals, target market, operations, and revenue model.
The Fix: Write a simple but solid business plan. It doesn’t have to be long, but it must answer key questions:
- What problem are you solving?
- Who is your ideal customer?
- How will you make money?
- What’s your growth plan?
At SGA, we offer free business plan templates to help you get started.
2. Trying to Do Everything Alone
The Mistake: Many new business owners try to wear all the hats—sales, marketing, accounting, product development, and customer service. Burnout is real, and mistakes become more likely.
The Fix: Learn to delegate and collaborate. Whether you hire a virtual assistant, join a business support group, or outsource tasks, building a support system will save time and improve productivity.
3. Ignoring the Power of Marketing
The Mistake: Some entrepreneurs think that having a great product or service is enough. But if people don’t know you exist, they can’t buy from you.
The Fix: Create a marketing strategy early on. Focus on:
- Building an online presence (website + social media)
- Growing an email list
- Sharing valuable content
- Using paid ads wisely if your budget allows
Marketing isn’t just about selling—it’s about connecting with your audience.
4. Underestimating Financial Management
The mistake: Mixing personal and business finances, not tracking expenses, or skipping budgeting are common rookie errors.
The Fix: Set up a separate business account from day one. Use simple accounting tools like Wave or QuickBooks. Know your numbers—profit, loss, break-even point. And always plan for taxes!
SGA’s finance courses offer easy-to-understand lessons on money management for small business owners.
5. Fear of Failing or Taking Action
The Mistake: Many aspiring entrepreneurs delay launching because they fear failure. They overthink, over-plan, and never take the first step.
The Fix: Start small. Start smart. Start anyway. Every successful entrepreneur has faced setbacks—it’s part of the journey. Learn fast, adjust quickly, and stay focused on your vision.
✅ How to Set Yourself Up for Success
Here are a few bonus tips to stay on track:
- Keep learning: Business trends change fast. Read books, attend webinars, or take an SGA course.
- Ask for feedback. Don’t build in silence. Talk to potential customers and mentors.
- Stay organized: Use tools like Trello, Google Drive, or Notion to manage your workflow.
- Take care of yourself: your business needs a healthy, focused you.
Mistakes are part of growth—but some can cost you valuable time and money. By learning from those who’ve gone before you, you can build smarter, grow faster, and avoid common traps.
At Salmon Global Academy, we equip leaders with the knowledge, tools, and support they need to thrive. Whether you’re just starting or trying to grow, our community is here to help you succeed.
Ready to take your next step as a confident entrepreneur?
Explore our entrepreneurship course and resources today.