3 big mistakes to avoid as a small business owner or entrepreneur - Business Insider

— a mental health blog that generates money from affiliate marketing, course sales, and advertising — revealed that her biggest mistake when building her business was being "way too cheap." of my time trying to teach myself how to do everything by using Google every time I had a question," Mariah said. "On top of that, I was too cheap to hire out the tasks that I wasn't good at.

"That wasn't sustainable and not my skill set," said Lucente, who noted that this approach was needed as the business scaled, but as soon as she felt that her financials were strong enough to add a CFO, she did. Also, because the demand on her calendar is intense and she receives upwards of 150 emails a day, she also hired an administrative assistant.

"I'm focused on working [as] CEO versus chasing down invoices," said Lucente. "I am able to take on the meetings that make the most sense, as my assistant is screening for the right fit and making recommendations for people who might be better off with a different service. I have the best force field around me, and as a result, my clients get the best of me and I can do what I'm best at! Also, my staff gets my time and mentorship.

Facey advised small business owners and entrepreneurs to be mindful and value their zone of expertise. "Be resourceful and find your thing, then lather, rinse, and repeat over and over!" he shared.Mark Aselstine, founder of, which specializes in wine clubs and gift baskets, admitted that his biggest mistake was the largest check he has ever written.

"It doesn't really work," the founder said. "Tasting notes and talking wine can be boring enough in writing, let alone via spoken word." For the first few weeks, the cofounders were happy and excited to be embarking on their new adventure, but quickly realized that they were just a number in the program's system. The mentorship wasn't there and their business wasn't getting better.Her takeaway for other budding entrepreneurs is that there is nobody out there who can or will do the work for you.

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