Things to Avoid When Starting a Business

Compared to previous years, starting a business is now easier to do. By utilizing a smartphone and a stable internet connection, for example, anyone can use the marketplace platform provided by many e-commerce sites to sell goods or services online.

Social media is not only an intermediary that helps introduce the products or services you sell, it is also often a place for buying and selling transactions. No wonder that in the end there are also irresponsible parties who take advantage of the opportunity, so that not only buyers but also those who are serious about doing business.

Even so, the convenience that can be used does not guarantee the continuity or success of a newly built business if you ignore the following things to avoid:

Feeling that you already have enough knowledge or knowledge about business

The learning process will not stop at educational institutions, even in everyday life we ​​will continue to learn, especially in starting a business. There are many things we need to know in preparation for building a business, from understanding the production process to product marketing strategies.

Likewise, after starting a business, don’t stop learning there. In maintaining and developing these businesses, we still need to continue to learn. Knowledge about business can be obtained anywhere, from reading books, attending workshops as well as expanding connections, to taking online classes.

Choose a business that is not controlled

You prefer tea to coffee, but because the coffee shop business has been booming in recent years, you have chosen to run a coffee shop. Maybe you can still live this, but it will be hard to do. In addition to the large number of competitors, also because you don’t have control over the products you sell.

Following market trends or interests is good, even so, try to find your passion or interest first and then find out what opportunities you can do with it.

Wrong choice of partner or co-worker

Starting a business with close friends or people we trust certainly makes things a lot easier to do. Moreover, in the process, the business does not always run smoothly. When that happens, you and your partner must be able to support and motivate each other. Therefore, choosing the right partner is very important to avoid material losses and ensure the continuity of the business you build.

Doing everything alone

Every entrepreneur must have a strong sense of ownership of the business they build, especially if the preparation takes a long time and is full of struggle. Anything will be done to make the business run the way it was envisioned from the start.

Even so, when the work you hold as a business owner increases, it’s time to entrust others to help you. Delegate some work to the people you hire according to their capacity. By avoiding micro-management and investing in the right people, you can ensure the development of the business you build.

Ignoring periodic product research or testing

Seeing a business opportunity cannot only start from a desire or preference, but also needs to be supported by research to determine market interest. Will the business you start later be needed or can it meet the needs (demand) of many people? Even after some time running a business, research or product testing is still needed to see how you can further develop your business in the future.

Mixing personal and business finances

Starting a business does require a lot of money. For small businesses, there may still be many who use personal money as business capital, then mix the profits received into their personal accounts. When your business gets bigger, you can’t do this anymore. You have to separate finances for personal and business needs. Because that way, you can monitor the development of your business and measure the profits you achieve over time.

For this reason, Jenius provides a Business Account to help you separate your personal and business financial flows. With a Business Account, you also no longer need to create a new account for your business matters. In Jenius, you can access your personal and business accounts from within one app.

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