5 Mistakes Businesses Make in Social Media

Who wants to make the same mistake twice? No one. Wise entrepreneurs learn from their mistakes and the mistakes of others...including the wild and crazy world of social media. The following are 5 mistakes that can set your social media campaign back. We don't want that to happen to you so take a moment to "learn" from these tips (we sure wish someone would have mentioned these in the beginning).

Mistake #1 - No Plan
Imagine if you started a business without a mission or business plan. Imagine you didn't know who your potential customer was or what products you were going to sell. Do you think it could be a recipe for disaster? The same goes for your social media. Take the time to plan your strategy BEFORE you dive in to posts and status updates. It will keep you focused in the long run and allow you more success.

Mistake #2 - Picking the Wrong Platforms
You can drive yourself crazy trying to manage twenty different social media sites and the odds are - unless you have a whole social media team - you won't excel at any of them because you are spread too thin. The idea is quality vs. quantity. Part of your Plan (stated above) is to consider where do your potential customers hang out. Is it Facebook, Twitter, Blogs, Pinterest, YouTube? Ask your clients  and narrow your focus down to one or two sites.



Mistake #3 - Tracking & Tweaking
Social media as a business is not a "just for fun" tactic. This is a legitimate marketing venue. Just like coupons, advertising and other marketing ploys, you have to measure your success to know how it's working. If you don't track what you are doing and make changes when you see success or failure - you're wasting your time. Most of the social sites offer analytics and there are free resources available.

Mistake #4 - "Push" Selling
When you spend all of your time pushing your followers and fans to buy - their going to do the opposite. They'll unfollow or unlike you and odds are, they're never coming back. Social media is about building a community and providing valuable information. Think about those potential customers and what they are interested in. Do they like DIY tips, quotes, funny images, special discounts, contests etc.? Give them what they want (integrated around your business/industry of course) and soon you'll be engaged in "pull" marketing which creates a much stronger relationship. They'll WANT to buy from you and will probably share those feelings with their friends too.

Mistake #5 - Thinking this is Easy
Social media is a huge venue for business and because there are so many tools available, it's easy to get sucked in to thinking this is all a piece of cake. It isn't. Creating a social media platform that engages with followers and nudges them on their way to becoming customers is HARD WORK. You didn't start your business without education of some kind, right? It's time to start learning the tricks of the trade and educating yourself so you can maximize your social media plan.

BONUS MISTAKE <--- (Quite possibly the biggest of them all!)
Giving Up Too Soon
There is no getting around it - social media takes time. Success won't happen overnight and if you're only spending a few minutes a day on your posts, it's going to take a long, long time to reap rewards. Expect to dedicate at least an hour a day to your social media marketing. Social media is about building relationships and there is no shortcut to creating trust. Remember, you have a plan and you are going to need to dedicate at least 6 to 9 months to achieve measurable results. Don't quit just yet!

Photo credit: Edn.com

Every Entrepreneur Can Learn from George Zimmer (and how he was fired!)

"You're going to like the way you look. I guarantee it." ~ George Zimmer

Over the last four decades, the founder of Men's Wearhouse has shined in the spotlight with his well priced men's fine clothing and deep bravado signature phrase...until last week when the Board of Directors fired him.

It can be emotional and disheartening to watch an icon of an industry dispelled by his own company. How could something like this happen? How can a brand built by a man who regularly embraces his image (Zimmer was forefront in most of the company's advertising) decide to fire their shining star.

This is where we - as fellow business owners - must take note. We are all striving for growth in our own endeavors. We want our company to be successful and earn recognition. Often one of the biggest struggles for start-ups is financial capital and so many of us are more than thrilled when the opportunity to gain investors appears. But just as there is reward...there is risk when you give away the control of your company. George Zimmer is feeling the pains of those risks now.



When someone becomes an investor or shareholder in your company - you are taking on a partner. With each additional investor - you give away a portion of your control of your company. While a founder may retain the largest portion of stock at first - this can soon become a weaker controlling interest when IPO's and investment growth occurs quickly.

Some suggestions to ensure you make the best decisions for your company:

• Always, always, always ask an attorney about your options and possible outcomes. The more you know - the better informed you will be as you direct your company through growth phases.
• Grow Slowly and operate within your means. This sounds a little like advise that a financial planner might give to a family but it remains true for a business. The more you control your assets and stay on top of your expenses - the less you will need from other investors.
• Create dual classes of stocks. If you do need to offer shares, you can choose to create one set of stocks which have limited voting power (available to the public) and another for your founders, executives and family members which has the dominate controlling interest.

All of us started our businesses for a reason. Perhaps it was a dream - a vision that your idea could become a steady income for your family or even change the world. Or maybe you wanted to create a start-up that could gain popularity so that a bigger company could buy it. As long as you understand where your business is going and the risks along the way - you won't be blindsided. Learn from the mistakes of others (like George Zimmer) and protect your controlling interest to execute your business.

Photo: Opinuns