033 | How to Not Fail in Your First Year in Business: The Importance of Business Strategy & Time Management

Ever wonder how some startups effortlessly dodge the blunders of their first year while others struggle to stay afloat? Are you curious about the secrets behind transitioning from the corporate world to the entrepreneurial race with finesse?

In this insightful episode, I will take you through the pitfalls to avoid in your first year of entrepreneurship. With a rich blend of wisdom, humor, and personal anecdotes, we will dive into the five rookie mistakes that new founders commonly make and how you can seamlessly sidestep them to set your startup on a path to success. 

In this episode, I share:

• How to embrace imperfections and avoid the trap of overthinking.  
• The importance of engaging with potential clients through active listening.
• Why financial prudence in your startup's early days is necessary.
• My secret weapon for keeping your vibes high when launching a business
• The bonus mistake (#6) too many new entrepreneurs make.

This episode at a glance:

[03:22]  Don't wait on perfect conditions for success to happen. Just go ahead and do something. Because while you're out there waiting for the mythical ideal moment, other moguls are making moves.

[05:15]  Stretch every dollar and ask yourself if the spend that you're about to make will likely lead to sales in three steps or less.

[06:17]  So the strategy not only guides you but also builds confidence so that you can face the ups and downs coming because you're an entrepreneur. 

[06:39]  None of us is great at everything, especially when it comes to business. We need to improve and find people who are better at things than we are.

[9:13] Corporate may have rewarded you for playing safe, but entrepreneurship is like jazz mixed with a bit of speed metal. You improvise, adapt, and dance to the change of the beat at high speed.

Resources and Links mentioned in this episode:

• Free Range Thinking
• Follow me on Instagram
• Chat GPT
• Executive Transition Mastermind 
• Dawn Andrews 

You might also like:

• CEO or BUST: The Rough Road To Becoming Your Own Boss 
• What Makes An Entrepreneur Successful
• Busting The Top 5 Myths Holding You Back

More about the “My Good Woman” podcast

My Good Woman is a podcast for bold female leaders hosted by me, Dawn Andrews! Grab a seat at the table for candid conversations with culture-shifting, glass-ceiling-busting, trailblazing women, leading enterprises that are changing the world. Follow along so that you can catch all of the episodes. And before you go, leave us a review!

Want to increase revenue and impact? Listen to “My Good Woman” for insights on business strategy and female leadership to scale your business. Each episode offers advice on effective communication, team building, and management. Learn to master routines and systems to boost productivity and prevent burnout. Our delegation tips and business consulting will advance your executive leadership skills and presence.