Doesn’t every entrepreneur want a successful business and reduce their chances of failing? Today, we have gathered tips from successful business owners who are telling us their major rights and wrongs. This way, if you follow their lead you can hopefully avoid rookie mistakes and grow straight to success. In this article we will give you the basics, and if you feel that there is an area you could become better at – be sure to dig in and get more informed.

1. One of the basics everyone speaks about is to know your customers. It may be harsh, but nobody cares about what you think about your product. You are the “parent” of the business and will always see it with loving eyes. Therefore, make sure you objectively become informed about what customers are looking for and based on that, build your product to have healthier relationships
2. When doing research, analyse the competition in your area and try to differentiate yourself. It is a huge mistake to believe that you are the only option customers will have. Instead, notice the options they have and try to give them better quality products and added value
3. Be careful of mixing up the clear idea of your project, meaning, that you may have a million ideas on how to grow, and be excited about executing them all at once, but don’t commit the mistake of spreading yourself to thin. Instead, focus on one idea and execute it until excellence. “Make one idea successfully work, and then decide whether you want to take on another venture,” she recommends.” Says Marlena Sandy, program manager for the Illinois SBDC at College of DuPage.