I used to be guilty of all three of these things…

When I first got into business, I was really excited about my ideas.

In fact, like a lot of you, I leaned into action with massive enthusiasm and hope, but not enough planning and strategy.

Five years into running my first business, I found myself in debt, nowhere near my goals, and either breaking even or losing money each month.

That wasn’t exactly what I had in mind when I decided to become an entrepreneur.

Today when I’m coaching many of my clients, and helping them scale their businesses to multiple millions in annual revenue, I often see the same mistakes that I used to make.

Mistake #1: Spending too much time perfecting the product or service and not spending anywhere near enough time perfecting a multi prong marketing approach and sales process.

This leaves you with a great product or service, but with no leads and sales.

You’ll find yourself going broke, burning money, getting more and more frustrated.

Mistake #2: Working too long IN the business.

It’s true that when you first start out you have to work IN the business and pretty much do everything.

At some point, as you start generating money, you have to use those profits to hire people who can do the repetitive tasks. This will allow you to free up your time to focus on the bigger vision and scaling the business.

The more time you spend in the weeds, the slower your business will grow.

You have to become the master of delegation so that you can focus on bigger tasks and future growth.

Mistake #3: Not creating multiple income streams in the business.

For example, your product or shirt service should have a good, better, and best option and it should be priced accordingly.

Your business should also have monthly recurring revenue.

In other words, some type of a subscription for an ongoing service that has value to the lives of your clients and customers.

Monthly recurring revenue is predictable income your business and it increases the valuation of your business at the same time.

These are just three of the many big mistakes that I see entrepreneurs making that prevent them from breaking into the next level.

If your goal is to build a massively profitable business so that you can have financial freedom and live life on your own terms, then be sure to join me and of others at Bedros Keuilian LIVE on September 13th & 14th in Scottsdale, Arizona for a life-changing two day event!