The early years of a business and the various stages of growth can both be filled with frustration.   It is possible though to avoid some of the mistakes that create obstacles.

Mistake 1:   You can save money by not employing someone to do administrative work

What gives you the better return for your time?   Typing, telephone answering, and bookkeeping, or marketing for sales?   Get someone to do these necessary administration tasks so you can use your time in more productive ways.   You will earn more per hour from marketing and sales than you will spend in wages for administration duties.   Consider outsourcing some functions, like bookkeeping, managing your website, accounting, obtaining finance, and cleaning.   (And they'll do the job much better too!)

Mistake 2: Taking on all customers

You don't want every customer, the ones you accept should fit your preferred customer profile.   People will take advantage; they want discounts, more for less, and be slow or even non-payers.   You could end up with bad debts or no profits on the work you do, and have a group of poor quality customers.   Before you take them on, make sure they know your account terms.

Mistake 3:   Underestimating the work required

It is not easy money and fewer hours, quite the reverse.   A very good use of your time is creating systems and processes to provide clarity and direction.   Create a manual so everyone can see 'how things are done here' - answering the phone, greeting a customer, spending petty cash, creating a file for a new customer, filing, all the bookkeeping steps, etc.   Then people do things your way every day and you don't need to check.

Mistake 4:   Not having enough working capital

In a perfect world this would never be a problem; everyone would pay you on time, your suppliers wouldn't really care if you needed a few more months to pay, your team wouldn't mind if they didn't get paid, etc.   Really, you need a backup of spare cash to use as working capital to carry you through the tight cash times.   Do a forecast month by month for 12 months and allow for new equipment, some slow debtors, tax bills, superannuation, loan payments, your drawings, and a reserve for contingencies.   Be firm with your debt collection policies.   You may be able to finance equipment and find some working capital finance but don't depend on it (the people we use for finance are experienced and excellent value - it's not only the rate to compare, but fees charged, payout penalties, alternatives, the time saved. the best deal, etc.).

Mistake 5:   Expecting customers to come to you

You might have the best product or service but prospects have to know about you and especially what you can do for them.   You have to market, network, ask for referrals, introduce yourself, and make sure people see the value in what you provide.

The early years can be hard, but put in the time and effort to get the base right and regularly focus on making sure your plan is on track.   Even though you've planned you may still have problems, but you have experience and knowledge to overcome obstacles, and some reserves if needed.   You've earned the reward for your effort and planning.