Everyone makes mistakes. And sometimes they teach us a lot. Heck, some of the world’s most monumental innovations—from penicillin, to microwaves, to chocolate chip cookies—happened by mistake. But when it comes to your business, simple mistakes are worth avoiding.  

If you’re looking to save time, money, and brand presence, here’s a quick list of business tips for you. Skip the learning curve, and avoid these small business mistakes:

1. Super Hero Syndrome: Small business owners are notoriously hands-on. Years of hard work and sacrifice have helped to build strong DIY muscle. But the need to do everything yourself will eventually lead to burnout. So take off your cape and take a nap. Outsource the areas of your business that zap your time without inspiring new ideas or refueling your passion. Bookkeeping, office administration, and marketing, for example, may be good tasks to delegate.

2. Overactive Imagination: Your product is awesome! So why do you reinvent it every week? Lots of mom and pop businesses are guilty of trying to please everyone—while diluting their core product/services in the process. If you run a taco truck, sell tacos. If you give manicures, paint fingernails. Yes, there are consumers who might buy both, but you’re more likely to gain loyal customers by delivering one fabulous product than by repositioning eight crummy ones.

3. Trademark Procrastination: Think you’re the only one with a great idea and an awesome brand name? Trademark lawsuits happen more often than you may realize. And cases of trademark bullying—where mega brands challenge even the most marginally-related terms or ideas—are virtually unwinnable for small companies, who lose out 94 percent of the time[i]. Don’t get shut down with a “cease and desist” because you didn’t take the time to trademark your product or brand. An online trademark application takes less than 90 minutes.

4. Hiring Yourself Short: Your Company may be small, but your standards are sky high. Don’t settle for mediocre employees just because you can’t compete—in terms of salary or benefits—with supersized competitors. Attract topnotch talent with no-cost incentives, like flexible work hours, telecommuting options, or even a pet-friendly office. Rock star employees will jump at the chance to work in an open, collaborative environment, and your business will benefit from smart, motivated hires. 

Do you agree with these tips? Which mistakes would you caution small business peers from making? Share your thoughts with us! We’d love to hear from you.