Episode #1: 6 Pitfalls To Avoid When Starting and Running A Business

business strategy Jan 26, 2020

The first episode of The 20 Hour Work Week Movement Podcast is finally here!

We couldn’t be more excited to share this with you and hope you’ll stick around to listen. This week, we cover the 6 pitfalls to avoid when running a business and various strategies to help you avoid them.

What 6 pitfalls do you need to avoid when running a business?

As entrepreneurs ourselves, we’ve encountered our fair share of issues when running our outdoor outfitter company, DIRO Outdoors.

While it didn’t always feel great as we were working through them, looking back, it's all part of the learning process. Now that we are aware of what these things are, we can help other business owners expedite their learning process vs. having to go through the same issues we had to go through.

While we cover each one more directly in the podcast, the six pitfalls are:

  • #6: Thinking you know and understand your customer from day one. It’s important to recognize that sometimes you need to pivot to really get in touch with your target market.
  • #5: Doubting that your business model will be profitable. We often know more than we think we do when it comes to building a profitable business. Don’t linger in this feeling.
  • #4: Choosing a product or service which you aren’t motivated to deliver to your clients. Build a business based on your sweet spot. If you aren’t motivated, you won’t want to put the effort in to become successful.
  • #3: Not really focusing on your finances. This includes more than just balancing the checkbook. You really have to look at your money in order to prioritize business decisions.
  • #2: Focusing on the wrong things—not stuff that grows your online business. When you aren’t focusing on the elements that add value to your business, you’re simply wasting time and money.
  • #1: Thinking that working longer hours will bring business success. Just because you can do it all yourself and put in a ton of time doesn’t mean you should.

Throughout the podcast, we discuss each of these pitfalls and provide you with the specific strategies on how to overcome them. Remember, these are things we’ve personally experienced and we’re happy to share with you on how to keep them from hindering your future success.

What is "The 20 Hour Work Week Movement"?

Of course, we couldn’t announce the first episode of the podcast without talking about what The 20 Hour Work Week Movement is.

We’ve been planning this for quite a while and are very happy to finally share it with the world. This podcast is all about helping you start and run a successful, enjoyable online business.

Our approach is different. We’ve designed a business model based on a 20 hour work week so you can spend your life on things that really matter to you, like family, friends, and adventures.

It is our hope that through this first episode and those coming up, you’re able to recognize areas of improvement in your online business and start to implement the strategies we discuss as soon as possible.

And, we are always here to answer questions along the way. Feel free to drop us a line at any time with ideas of what you want to see on the show or if there’s something that you heard in an episode that really helped you.

Listen to episode #1 now! 

Are you ready to learn all about the six pitfalls to avoid when running a business, as well as the various strategies to help you dodge them Great!

Take a listen here and let us know what you think by leaving a message in the comments section below.

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