Leaders Perception Magazine is currently running an interview series called – What Are The Top 5 Mistakes People Make When Starting A New Business?
Today, we had the opportunity to interview John Vagueiro who is a Chief Executive Officer at Adapting Social.
Interviewee Name: John Vagueiro
Company: Adapting Social
John Vagueiro’s favourite quote: Live a few years of your life like most won’t, so you can live the rest of your life like most can’t.
Thank you so much for joining us today! Tell us a little bit about yourself. What is your backstory?
John Vagueiro : John started his business in 2010 from his parents basement with a mission to save and support small businesses. Nearly 13 years later, Adapting Social today serves hundreds of entrepreneurs around the World with a team of just under 50 – and is continuing to scale!
In your opinion, what makes your company stand out? Any examples?
John Vagueiro : Our product is our people. In the World of Marketing; merging talent and creativity with our “bear trap” strategy concept – our agency stands out as a full-service marketing agency through ROI-driven strategies proven to work in various industries.
What are the TOP 5 mistakes people make when starting a new business? Please share advice/examples for all of them.
John Vagueiro : 1. Unrealistic Expectations – A lot of times people think that owning a business is sexy and fun and the “trendy” thing to do to escape their 9 to 5. What many don’t realize is the reality of owning your business; working 24 hours, having to navigate rocky waters and bring in cashflow. Playing in the mud isn’t always fun.
2. Being passionate vs. being a business owner are two different things. Just because you’re passionate about something doesn’t mean the cashflow will naturally come with it. The hardest thing in the World is getting people to trust you enough to pay for a product/service… and pay enough to make your business sustainable. Sales and entrepreneurship go hand in hand – so brush up on your sales skills and don’t take no for an answer.
3. You can’t expect your team to have the same work ethic as you. You also can’t expect them to be motivated by the same things that motivate you. When you’re building a team, you have to understand each individual and what inspires them.
4. Lack of constant innovation. Many make the mistake of creating a business plan, and sticking to it with little to no innovation. As your business evolves, consumer behavior does as well – to keep up with the times and keep your business relevant you HAVE to innovate fast.
5. Don’t leap too early. Understanding you want to create freedom for yourself, make sure you set yourself up for success so that you don’t take the leap and then fall flat. The stress of finances can take a toll on someone or discourage someone from continuing. Start slow, spread awareness and when you’re ready – JUMP.
Leaders Perception magaizne would like to thank John Vagueiro for the time dedicated to completing this interview and sharing their valuable insights with our readers!
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