Under Estimate how much time it will take to do the ‘marketing bit’
Marketing should not be an after-thought. It needs to be planned out, preferably for a whole year ahead, so that every activity has a purpose and a goal. Many of the marketing ‘gurus’ recommend spending 20% of your time on marketing. It may seem like a lot – but when the alternative is a lack of business....
Over estimate the demand for your great idea
It’s easy to get carried away with enthusiasm when you think of that brilliant idea for a new product or service that EVERYONE is going to love! You can avoid the disappointment when customers fail to beat a path to your door by doing some market research first. Find out what people want – before spending time and money creating something that fails to sell.
Under estimate how difficult it will be to stay motivated – all the time
Even the most successful and driven entrepreneurs occasionally have days when they’d prefer to hide under the duvet! It can be hard to stay motivated and moving at full speed all the time so plan in some contingency to take a little down time – for when you need to be kind to yourself :)
Have any estimates tripped you up? Please let me know if they have! And do share this post if you found it helpful.