No business owner is perfect, but knowing the biggest mistakes entrepreneurs have made can help you avoid some of the common ones. Someone posted on Reddit about their desire to start a B2B mobile app, and the original poster asked other entrepreneurs about the biggest mistakes they made.
Many founders rushed to the comments to share their big mistakes and lessons learned along the way.
Don't Listen To The Wrong People
Listening to the right people can introduce you to new business ideas, help you capitalize on promising opportunities, and achieve your long-term goals. However, the wrong people can steer you away from your objectives. One Redditor brought up this point when sharing the biggest business mistake they made.
"Listening to people who never took risks in their entire life," the commenter said.
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Entrepreneurs take risks, and they can appreciate others who are taking risks and offer guidance. On the other hand, most people do not take risks and have no experience with running businesses. These aren't the people you should listen to as much when you are on your entrepreneurial journey.
"People who never take risks love to give advice, but they don't really know what it's like," someone responded on Reddit.
Starting A Business With A Best Friend
Another entrepreneur said that their biggest mistake was starting a business with a friend, and plenty of people agreed in the comments. Good friendships can turn sour if the business doesn't perform well or if one friend is doing most of the work. It's also more complex to start a business with a partner than doing it on your own.
"I find it's much easier [to] solo, albeit a bit lonely," one commenter said.
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Two Redditors were going back and forth in the comments saying that they partnered up with family and friends in their mid-20s, but they won't repeat that same mistake again. It's hard to find a good business partner who is trustworthy, reliable, and productive. Embarking on the journey solo gives you more flexibility and control.
Shiny Object Syndrome
One business owner said shiny object syndrome was the big mistake that cost six years of their growth.
"It’s the [top] mistake out there, and I made it three times before I realized my mistake," the business owner said.
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You have to commit to a business idea and see it through before expanding into new projects. Some entrepreneurs can juggle multiple companies at the same time, but most people in that scenario make their money with one company and then reinvest those profits into additional ventures.
Don't rush toward opportunities just because they're hot right now and everyone is talking about them. Master your area of expertise and grow your existing company before considering new ventures.
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