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 Shailen Vandeyar who is a Founder at Funnel Teacher.
Interviewee Name: Shailen Vandeyar
Company: Funnel Teacher
Shailen Vandeyar’s favourite quote: “Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.” – Abraham Lincoln
Thank you so much for joining us today! Tell us a little bit about yourself. What is your backstory?
Shailen Vandeyar : I’m a funnel enthusiast who loves creating funnels, studying more about them, and sharing my knowledge with anyone who shares my passion.
My love for all types of funnels started in 2015 when ClickFunnels was getting increasingly popular.
I purchased a membership by borrowing some money (yes, I was kind of broke!)……and have never looked back.
Today, when I understand funnels a bit more than when I started, I’m amazed at how simple tools and concepts come together and create something that essentially becomes a money-making machine.
In your opinion, what makes your company stand out? Any examples?
Shailen Vandeyar : I believe in crafting no-nonsense content. Any content, text, video, etc. should provide value and should not be hard to find. One should get it as soon as they land on your URL.
An example I always give my writers is that if I ask you in real life why people like pizza, you’d say because it’s cheesy, crispy, has yummy toppings, etc. But when writing the same content or creating a video, why are we like, “Ah, pizza. The gift of god to mankind. Ever imagine the cheesy delicacy melting in your mouth?…….”
Provide value, right off the bat. I make sure in our articles you get what you’re promised (the answer to the question in the title) asap.
What are the TOP 5 mistakes people make when starting a new business? Please share advice/examples for all of them.
Shailen Vandeyar : Not doing a feasibility check of the business idea, not doing market research, or being unclear about the product you’re selling are classic mistakes when starting a business. One shouldn’t rush into business without having a money egg since it can take a while to see a profit.
One has to be prudent when venturing into business. Even a small mistake can cost you, so it’s important to know the top pitfalls and how to avoid them.
Let’s discuss some common mistakes:
1. Hiring specialists and not generalists.
At the start, you would have a small team, so it’s important to have more generalists rather than specialists. You need people who can wear multiple hats, take ownership of their work, and work in different areas. When you expand your business, then you can think about adding specialists.
2. Not having a money cushion.
The most important virtue to remember when doing business is having patience. YOu will not see profit immediately and need to have money saved up.
3. Not budgeting for marketing endeavors.
Marketing is an important pillar, and without having a proper budget for it you will not be able to grow your business. Make use of the internet because it can help you reach your audience and establish your brand.
4. Not defining your target audience.
You will be lost if you don’t have clarity on whom you are catering to. Keep in mind the taste and preferences of your customers before starting.
5. Not putting in work behind defining your brand.
A generic brand identity makes it impossible for your audience to relate to and remember you.
Leaders Perception magaizne would like to thank Shailen Vandeyar for the time dedicated to completing this interview and sharing their valuable insights with our readers!
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