What's the most expensive business mistake you've made?

[Mum Pounder]

Can you tell me what the most expensive mistake you've made with your business is?

Mine was not outsourcing when I got overloaded. It's not really that it's expensive with money, but it is expensive in my time.

 

[vicky71083]

Yes you are right , I totally agree with .

When you see you are getting overloaded you should outsource the work and focus on getting more clients .

 

[t2van]

Hiring the wrong people. But that's on me and to a degree on them.

We do 3-6 month trials with people now before offering them a full time contract with all the "perks" it's easier for someone to hide and lie in a short time frame. Keep them for 3-6 months and you see all the little cracks, habits and truths come to light.

You get a sense of a "real" person before you end up stuck with them for good.

 

[RiskyStuff]

Doing operations while being unstable mentally. Telling myself I have to offer services and do all the work by myself. I picked wrong niches many times.

The most expensive? Focusing on small markets instead of big ones where it feels like money grows on trees.

Think how much you could grow in something like music vs how much you could grow in some local SEO market. Local business was utter shite for me. Music, video... YouTube - in this ceiling doesn't exist.

I was into so many things... too many. Business isn't life...

 

[Outlaw]

Surrounding my work with the wrong people has screwed a good four good working projects of mine