1. Spending too much time on social networking and not enough time on business growth.

For some, social networking is a kick. You get a little attention, you make a few efriends. But when the time you spend chatting online exceeds the amount of time doing whatever it is you need to do to grow your business (depends on the business – and if you don’t know what helps it grow then spending your time figuring that out), you’re screwing up.

Sure, you might get a few sales from Twitter. Someone might see your avatar in the Etsy forums and click and buy. Someone might even use these tools to tell their friends about you. But none of them equal serious business growth. You’ll see the Fortune 500s adopting new technologies like these, but they will never overtake whatever they’ve been doing that has made them a Fortune 500 in the first place.

And you shouldn’t either.


2. Believing you have an Etsy business.

I think Etsy is a wonderful tool. It has its limitations, but all in all it can be a great way for someone to launch a business.

Trouble is, many people seem to say things like, “I have an Etsy business.” Or, “I have a store on Etsy.” That’s all well and good if all you ever want is an Etsy business or an online store. But if you want anything more, you might want to start thinking you have a business – and believing that where it’s hosted online is incidental.


3. Believing that Etsy is getting in the way of your growth.

Worrying about – even knowing – how many times any given Etsy shop has been on the front page is information that will cripple you and your business. For my part, it’s a piece of information I have absolutely no interest in. Less than no interest.

This kind of thinking goes along with believing you have an Etsy business. Who Etsy honors on the front page, features, and writes about in the Storque is an added bonus for any business – absolutely. But it should never be considered a make or break for your (or their) business. Besides, it’s ETSY’s business. They can do whatever the hell they want. And if you don’t like it, there are plenty of other online selling venues to try.

Etsy is but a tool for those who want to build an empire. And hanging your hat on the opinion of said tool is a surefire path to disappointment. Instead, hook up with those (bloggers, media, publications, etc.) who do appreciate your business and will honor you accordingly. You’ll get the ego boost and motivation you need and Etsy’s opinion just won’t matter anymore.


4. Sticking to your guns.

Sticking to your guns can be an admirable trait. In child-rearing and organized crime. But ever using a phrase that resembles, “But that’s clearly stated in my policies.” to a customer is a way of sticking to your guns that probably doesn’t help your business.

Policies are lovely. They serve as a guideline for how you want to operate your business. But bear in mind that sticking to your guns when it comes to policies is a good way to alienate customers – which as a small business you may not be able to afford.

You have the luxury of breaking your own rules because there’s not some fat boss with a bad hairdo and a tweed coat banging on your head. And it’s why people who like dealing with small business like dealing with small business.


5. Freaking out instead of taking action.

We’ve all seen it. “Oh my god, someone is copying me!” “This customer is a jerk, what do I do?” “The sky is falling, the sky is falling!”

If you were being attacked by a mountain lion, all the panicking in the world isn’t going to save you. You need to take action. Make yourself big and flap about. Make a lot of noise so he thinks you’re a predator. Beat the bastard, don’t cower.

So the next time you’re faced with a problem you don’t know how to solve, stop. Think. Ponder. Put yourself in the other guy’s shoes. And breathe. And if you still don’t have the answer after sitting on it for a few hours (or, better yet, a day or two), find someone who will help you find the right answer for you.


6. Believing that what works for Judy Schmoe is going to work for you.

There are a lot of “what’s the secret to sales” posts on this forum. People see those miracle workers who’ve been at it for a year and have 40,000 sales. Those same people wonder what they’re doing and hope that mimicking it will equal greater sales.

Wrong.

Wal-Mart has built its business on haggling with suppliers who simply have to put product in their stores and by undercutting everyone else’s prices to give its very specific market what it wants. Berkshire Hathaway is run by a veritable financial genius and sells its never-split stock at an elitist price. These two companies are in the Fortune 50, but they operate on completely different principles with completely different business models.

So don’t believe that Judy’s strategies are going to work for your business. Sure, it’s fine to learn from what others are doing, but odds are it’s never going to work the same way for you. Instead, test all kinds of crazy-assed things and repeat whatever works.

Posted at 12:05 pm Feb 17, 2010 EST