My Top 5 Consulting, Coaching & Entrepreneurial Mistakes (and How to Avoid Them)

It’s hard to believe it, but I’ve had my own consulting and coaching business for almost 15 years! Along the way, I have had my successes…and failures.

In this post and Enough Already podcast episode, I’m sharing with you my 5 biggest mistakes that I’ve made over the past 15 years with the hope you’ll learn from me, avoid my mistakes, and build a thriving consulting or coaching business.

Everything from not listening to great advice from one of the world’s best branding experts to investing in the wrong people – these are all a part of my journey. I hope you use my mistakes to empower you to set your business up right from the start and save money, time, and frustration!

Mistake #1: Letting Scarcity Dictate My Business Model and Brand

Early on, I let fear and scarcity rule my decisions. I ignored invaluable advice from literally one of the world’s best branding experts because I was terrified of leaving money on the table. I ended up working with all kinds of companies, and while the pay was good, I was burnt out and miserable.

How to Avoid This: Take a moment to define the business you truly want. Trust that aligning your business with your strengths and passions will bring in the money and fulfillment you seek.

Mistake #2: Choosing a Fictitious Business Name

I thought a catchy business name would make me stand out. Instead, it became a nightmare when I wanted to pivot. My brand didn’t grow with me, and it confused my clients.

How to Avoid This: Use your own name. Your name is your most flexible and enduring brand asset. It grows with you and keeps things simple and clear.

Mistake #3: Too Many Cooks in the Website Kitchen

I made the classic mistake of letting too many people influence my website without understanding how it all worked. I got feedback that made me change my authentic style, leading to a site that didn’t convert and didn’t reflect me.

How to Avoid This: Take the time to choose the right website support that aligns with your vision. Follow your gut, be cautious about whose input you listen to, and make sure your website feels like you.

Mistake #4: Not Investing in the Right Skills and Strategies

When I decided to expand my business to include mentoring and courses, I didn’t realize the significant shift it represented. I hired a bunch of people for various parts of the project, but no one helped me see the big picture. I wasted over $100K.

How to Avoid This: Equip yourself with the right strategies, skills, and tools at every pivot point. Hire experts who can help you build a solid foundation and look at the big-picture implications of your moves.

Mistake #5: Poor Partnering Decisions

I gave away too much of my time and content in partnerships that didn’t offer equitable value. I also failed to have clear operating agreements, leading to costly mistakes.

How to Avoid This: Value your worth and be clear on what you need. Don’t enter partnerships without clear agreements and operating terms. Protect your talents and your brand.

Turning Mistakes into Mastery

Now, let’s flip the script and turn these mistakes into best practices.

1. Embrace Abundance: Choose a business model and brand that align with your strengths and passions. This is your fast track turning your career into your calling.
2. Use Your Name as Your Business Name: It’s the most flexible container that will grow with you.
3. Understand Your Website and Marketing System: Know what’s under the hood so you can manage the people you hire and ensure they deliver the results you need.
4. Strategize Your Pivots: Whenever you want to add services or pivot, look at your business and brand strategy. Invest in people who can help you understand the big picture.
5. Protect Your Brand in Partnerships: Do not pursue partnerships that are unequally yoked and never work without an operating agreement.

DIVE DEEPER

• If you want to dive deeper and get the full scoop on these mistakes and how to avoid them, make sure to listen to the full episode of the Enough Already Podcast.
• And to build your business and brand right the first time, grab my FREE roadmap and guide.

REMEMBER…

Remember - mistakes are part of the journey. Ditch any fears or shame about them. The only mistake that isn’t recoverable is not trying at all.