7 Mistakes Beginners Make When Starting a Business in 2025 (During a Downturn)

You want to start a business, but you're worried about the economy. You're not alone, and it is possible to succeed. In 2023, a record 5.5 million new business applications were filed in the United States. Even in uncertain times, entrepreneurs are taking the leap. The truth is, tough times can create tough entrepreneurs. But if you're not careful, certain mistakes can sink your business before it gets off the ground. So today I'm going to walk you through the 7 big mistakes new entrepreneurs make when launching during a downturn. And how you can avoid them. From mindset and marketing to money management, leadership, and product development, we're covering it all. Avoid these mistakes and you'll vastly increase your chances of not just surviving, but thriving. Let's dive in. And if you make it to the end of this video, put a hashtag #believe in the comments below, and I might feature you in a future video. Mistake number 1: Believing the downturn will doom your business. So here's a mistake. Starting off with the wrong mindset, believing that the bad economy means guaranteed failure. It's easy to think the market is awful. Maybe I should wait, or nobody succeeds in a recession. This defeatist thinking paralyzes you. If you're convinced you'll fail, you're practically defeated before you begin. Remember, your mindset sets the tone. A negative mindset in a downturn can make you give up at the first obstacle. Here's the reality check. History proves that downturns can be the best time to start. In fact, about half of all Fortune 500 companies household names started during a recession. Hewlett-Packard began in a garage during the Great Depression. Microsoft was founded in the oil crisis of the 1970s. Even Groupon launched amid the 2008 recession. Tough times forced these founders to be innovative and resilient. They didn't say the economy is bad, let's quit. They pushed forward. As a result, they built some of the world's biggest companies. So here's some science and stats for you. Research shows hard times can actually spark opportunity. One study noted that rising unemployment in a recession often inspires people to become entrepreneurs seeking to be financially self-reliant. Entrepreneurial spirit doesn't die in a downturn. It gets creative. And customers don't vanish either. Their needs just change. Some of the world's greatest businesses— General Electric, General Motors, Netflix, Airbnb— were born in recessions. Why? Less competition. And new problems to solve. A downturn can shake up customer habits, opening gaps in the market that didn't exist in good times. Here's a motivational insight. When you start a business during a recession, you may have fears and doubts, says Timo Wilson. He's the CEO of ASAP Credit Solutions. But with careful planning, the right strategies, and the right attitude, you can turn a bad situation into a good opportunity. So your attitude really matters. If you believe now is a bad time, I'll fail, you will hesitate and miss chances. But if you believe now is my time to solve a problem and serve people, you'll find a way to make it work. So don't let fear kill your dream. Use that fear as fuel to plan smarter. Here's what you can do instead. Embrace a resilient mindset. See the downturn as an opportunity to build something lean and valuable. Focus on what you can control. That's your work ethic, your creativity, your ability to adapt rather than dwelling on scary headlines. Remember, if others could start great companies in hard times, so can you. Go in with eyes open. Yes, but with the belief that your business can succeed. That confidence will drive you to find solutions when challenges come up. In a storm, mindset is your anchor. So set a positive, determined tone from day one. Believe that you can be the exception and then work to make it true. Mistake number 2 is trying to do everything alone. So the mistake is that you're wearing all the hats and refusing to ask for help. New entrepreneurs often try to be the CEO, the salesperson, the marketer, the accountant, the janitor all at once. You might think no one can do this as well as me, or maybe you don't want to spend money on help. The result, though, is burnout and bottlenecks. When you try to do everything yourself, you quickly run out of time and energy. Important tasks slip through the cracks because you're stretched too thin. Plus, you limit your business's growth to the hours in the day. This lone wolf approach might feel heroic, but it's actually a recipe for for disaster. So here's the reality check: even the greatest entrepreneurs don't succeed alone. Steve Jobs, who was the visionary behind Apple, famously said, great things in business are never done by one person, they're done by a team. Think about that. The guy who built one of the most valuable companies on Earth is telling you he couldn't do it solo. Collaboration is key. Elon Musk might be a genius inventor, but even he doesn't build Teslas or SpaceX rockets alone. He surrounds himself with experts who execute his vision. Why? Because nobody is great at everything. Musk focuses on what he does best and lets talented people handle the rest. If iconic founders rely on teams, so can you. Also consider this: trying to be the Superman or Superwoman can blind you to your own weaknesses. You might be great at product development but awful at marketing, or vice versa. If you insist on doing it all, the areas where you're weak will hurt your business. Two heads or more are often better than one. Other people bring fresh ideas and skills you don't have. If you shut them out, you miss out on that value. So here's some signs that you're doing this. Are you working 12 to 16 hour days and still feeling behind? Do you avoid delegating because you think others will mess it up? Those are some red flags. Refusing to delegate because no one does this better than me isn't coincidence. It's a shortcut to burnout. The company is your baby. But you can't raise a baby alone. It takes a village. So here's what you can do instead. Build your support system. This doesn't mean you need to hire a huge team on day one. It means be strategic about getting help. Delegate tasks that drain you or that aren't your expertise. If you're not a numbers person, hire a part-time bookkeeper. Struggling with social media? Bring in a savvy freelancer. Find mentors or advisors who have walked this path and can guide you. Their experience can save you from costly mistakes. Remember, asking for help is not a sign of weakness. It's a sign of wisdom. As an African proverb goes, if you want to go fast, go alone. If you want to go far, go together. Teams can accomplish what individuals can't. Even if you're a solo founder, you can't grow a business in a vacuum. You need customers, suppliers, maybe investors or employees. Embrace the mindset that partnership and delegation are strengths, not burdens. You can practically start by listing tasks only you can do, like setting the vision, maybe product design, and tasks others can do. Then look at that second list and start outsourcing or delegating one by one. It could be as simple as automating your bookkeeping or having a friend or consultant give feedback on your marketing plan. Free yourself to focus on what you do best. That's how you'll grow. Great businesses are built by teams, so start building yours. It'll not only lighten your load, it'll multiply your capacity to achieve great things. Mistake number 3: burning through cash too fast. So the mistake here is spending money faster than it comes in and not keeping an eye on cash flow. This is a huge pitfall, especially in a downturn. Maybe you splurge on a fancy office or hire too many people too soon or invest in expensive tools you don't actually need. New entrepreneurs sometimes act like every dollar is replaceable, but in a tough economy, fundraising is harder and customers are cautious with spending. If you run out of cash, your business is done, period. It sounds obvious, but so many startups burn through their runway thinking more money will magically appear. The mistake is not budgeting carefully and not planning for slow sales or emergencies. It's like you're driving a car with a gas leak. You're not going to get very far. So the reality check is this: cash flow is the lifeblood of your business. Here is a startling statistic. 82% of startups that fail blame poor cash flow management. That means 8 out of 10 failed companies essentially ran out of money or couldn't manage it properly. Even if you have a great product, if you can't pay your bills, your company is done. You might be making profits on paper, but if your cash isn't in your account at the right time, you can't operate. A classic example is Toys "R" Us, a huge company that went bankrupt in 2017 not because people stopped buying toys, but because they had too much debt and ran out of cash to service it. If a giant like Toys R Us can collapse from poor cash management, a brand new startup is even more vulnerable. So during a downturn, this is even more critical. Banks tighten lending, investors become picky, and customers pay slower or buy less. Money isn't flowing as freely in the economy, so your margin for error is thin. Every dollar wasted is a dollar you might desperately need next month. Some entrepreneurs think spend now to grow fast and we'll figure out revenue later. That mindset has killed countless startups. Yes, you need to invest in yourself, but invest wisely and track every expense to be sure that it's worth it. So here's what you can do instead. Be lean and mean with your budget. Treat every dollar like it's gold. Create a simple budget for your business and track your cash flow weekly. Know exactly how much is coming in and going out. There are great tools, even basic spreadsheets or apps like QuickBooks, that help you see this clearly. Plan for the worst-case scenario. What if sales are half of what you expect? Do you have enough cash to survive a few slow months? If not, you may need to cut expenses or find additional funds before you hit a crisis. It's advised to stash a safety net fund if you can—money set aside for emergencies. This could be personal savings or line of credit you don't touch unless needed. Also, prioritize spending that drives growth or is essential for operations and delay the rest. For example, paying for marketing that brings in customers is good, but paying for a luxurious office space is probably not, especially if you can work remotely. As one business expert put it, lavish office spaces, premature hiring sprees, and inventory mismanagement can leave your budget gasping for air. So in other words, skip the frills. Focus on what keeps the lights on and brings in revenue. Negotiate with vendors for better rates. Avoid taking on debts you don't absolutely need. And keep your personal expenses separate from your business finances. Most importantly, keep an eye on cash flow timing. A sale isn't real unless the money is in your account. If you invoice clients, some might pay you in 30 or 60 days. You must account for that gap. Plenty of profitable businesses have died because they ran out of cash while waiting for payments. Don't let that be you. In a downturn, cash is king. If you manage your money wisely and stay frugal, you'll be in a much stronger position to weather storms and seize opportunities others can't because they blew their cash early on. Remember, your goal is to stay in the game long enough to win, and that means not going broke along the way. Mistake number 4 is neglecting marketing and your online presence. Here's the mistake: believing that a great product or service will magically attract customers on its own. This is the "if I build it, they will come" fallacy. Many new entrepreneurs pour all of their energy into making a product perfect, then do little to actually market it. In a downturn, they might cut marketing first to save money. That's the big mistake. If people don't know you exist, you have no business, period. Neglecting marketing, especially online, is like opening a store and not putting a sign out front. No one knows you're there. Where is everyone's attention right now? Online. If you're invisible on the internet, you're invisible, full stop. Consider this: your potential customers are on social media, they're searching Google, they're reading emails, they're watching YouTube videos. If you're not showing up in those places, they'll buy from someone who is. Some entrepreneurs also underestimate the importance of an updated website or active social media profiles. "Oh, I'll get to that later." Later might be too late. Because a competitor who engages customers online will grab that market share. In a downturn, trust and visibility are even more important. People are cautious with spending, so they buy from brands they see and trust. If you're hiding, they'll assume you're not a valid option. So here is your reality check. We live in a digital age. 84% of consumers find new products, services, and businesses online. Through social media feeds, search results, or online recommendations. Let me say that again. 84% of people discover businesses online. That means if you have no online presence or a very weak one, you're missing out on a huge majority of potential customers. As marketing CEO Yacine Aberah puts it, you don't want to be the best kept secret. You want to be known. Look at it this way. During the last downturn, many businesses survived only because they had an online presence, online sales, social media marketing, et cetera. Those who didn't were left behind. Even big ventures can fail By ignoring marketing. Quibi, a short-form video streaming startup, had $1.75 billion in funding and big Hollywood names behind it, but it flopped hard because it failed to market effectively and couldn't get users. All that money and talent wasted because they couldn't convince enough people to care. The lesson is that no matter how great your product is, you must actively reach your audience. So here's what you can do instead. Make marketing a priority, not an afterthought. You don't need a Super Bowl commercial or a huge budget. Thanks to the internet, marketing can be extremely cost-effective. Start with the basics. Build a solid online presence. Ensure that you have a clean, easy-to-navigate website, or a simple one-page site with your information and what you offer is a great start. Make sure your business can be found on Google. Claim your Google My Business listing if it's a local business. So people can find your address, your hours, and the reviews that you have. Get on social media platforms that your target customers are using. You don't have to be everywhere, but choose one or two channels like Instagram, like YouTube, like LinkedIn, TikTok, Facebook, wherever your audience hangs out and show up regularly. Post content that provides value or insights related to your business. This could be tips, behind-the-scenes looks, customer testimonials, industry news, etc. Engage with your followers. Answer their comments and their questions. This builds trust and a community around your brand. Invest time in content marketing and SEO, search engine optimization, so that when people search for the problem you solve, they find you. For example, if you're a graphic designer, you want to come up when somebody searches for logo design for a small business. Maybe start a simple blog or a YouTube channel with helpful content. It can draw people to you. Also encourage happy customers to leave reviews online. Positive reviews can significantly influence new customers to trust you. During the downturn, many competitors will be tempted to pull back on marketing. If you can lean in, you capture their market share. Marketing doesn't have to break the bank. Using social media is free, and even small targeted ads can go a long way if done right. The key is consistency and understanding your customer. So ask yourself, where do my ideal customers spend time and what message would appeal to them right now? Then put your message out there again and again. Remember, people can't buy from you if they don't know you exist. So make some noise. Be proactive in spreading the word about your business. Share your story and what problem you solve. In a downturn, emphasize the value and reliability you offer since customers are more value-conscious now. If you do this, you won't be stuck hoping new customers somehow stumble upon you. You'll be out there attracting them. The businesses that thrive are usually the ones that are seen and heard. So don't be shy about marketing. It's the engine of your growth. If you want to take real action after this video, I made a free worksheet just for you. It covers the top lessons from today, gives you space to write your biggest takeaways, and helps you build a simple action plan. It's 100% free. Just click the link in the description to go grab it. Let's start building real momentum in your life and business. I'll see you there. Mistake number 5 is skipping market research and ignoring customer feedback. So the mistake is this: you're charging ahead with your idea without checking if anyone actually wants it. This is like building a puzzle with missing pieces. Something important just won't fit. Many enthusiastic founders fall in love with their product or service and assume everyone will love this as much as I do. They invest time and money to launch only to hear crickets because they didn't validate the market need. Equally dangerous is getting initial customers but then ignoring their feedback, basically sticking fingers in your ears to avoid hearing criticism. If you skip research and ignore feedback, you're essentially building your business in a little bubble, or worse, on false assumptions. That's a fast track to failure. Here's the reality check. Know this statistic: 42% of startups fail because there's no market need for their product. Let's let that sink in. Almost half of startup failures happen because they made something nobody really needed or wanted. Why does that happen? Because the founders assumed instead of asked. Skipping the step of talking to potential customers is huge mistake. You might have the most innovative solution, but if it's not solving a real problem people have, it's not going to succeed. Enthusiasm is not a substitute for insight. Ignoring customer feedback is just as bad. The market is always moving, and customers will tell you what they like or hate if you listen. Think of companies that failed to adapt. BlackBerry was once a top smartphone maker from Canada, but they ignored the trend. Towards full touchscreen phones. They insisted people wanted physical keyboards and didn't listen to users who were drawn to iPhones and Androids. The result? BlackBerry went from dominating to basically obsolete because they didn't heed the feedback of the market. That's a billion-dollar example of ignoring customer signals. Now, on a smaller scale, if your early customers keep asking for a certain feature or complaining about an aspect of your service, and you brush it off, you're pushing them away to your competition. Here's what you can do instead. Do your homework before you launch and keep learning after you launch. Before you spend a dollar on building your product or opening your doors, research. This doesn't have to be expensive or formal. Start by talking to people in your target market. They could be friends, acquaintances, online forums. Where are your potential customers hanging out? Ask if they have the problem you think you're solving. Listen to how they describe their pain points. Would they pay for your solution? How much? This is called validating your idea. You might find you need to tweak your concept to meet what people actually need. You can look at industry research trends and even what your competitors are doing and where they might be failing customers. Observe the competition. See if there's something customers complain about in their offerings. That is an opportunity for you. If possible, create a simple prototype or a basic version of your product. This is often called an MVP. Minimum Viable Product and get it in front of real people quickly. The goal is to gather feedback early before you've invested too heavily. It could be a demo, a sample, or pilot program. For example, if you want to open a food business, maybe start a pop-up stall or catering a small event to gauge reactions. If it's an app or product, make a basic version with core features and see if users actually find it useful. Once you have customers, even just a few, Actively seek their feedback. Use surveys, invite reviews, have conversations. Yes, you'll hear things that are hard to hear sometimes. I didn't like this, or it's too expensive, etc. But this is gold. These critiques show you how to improve and what to change to really fit the market. Don't take it personally. This is about making your business better. If multiple people are telling you the exact same thing, like your pricing is too high compared to value, or a certain feature is missing, pay attention and consider adjusting. Be ready to adapt. Sometimes businesses have to pivot, which means changing direction to find the real demand. Here's a very famous example. YouTube started as a video dating site, then pivoted to general video sharing when they saw users wanted that instead. If the data and feedback point you in a new direction, don't be stubborn. Be willing to pivot your idea to meet the market need. In short, stay customer-focused. Your business exists to solve a problem or fulfill a need for your customers. Keep them at the center of your discussions. Regularly ask, is this what people want? What are they telling me? And how can I serve them better? If you build with the customer, not just for the customer, you'll create something the market truly wants. That dramatically increases your chance of success, especially in a downturn. Remember, feedback is a gift. Even when it's harsh, use it to refine your business into one that people can't live without. Mistake number 6 is scaling too fast, too soon. So here's the mistake. You're trying to grow your business at lightning speed before you have a solid foundation. This could mean hiring a bunch of employees, opening new locations, or spending big on advertising to get tons of customers right away. It's an easy trap. You get a little early success and think, hey, we need to go big right now. Or you might feel pressure to look successful because everyone glorifies fast growth startups, but scaling prematurely is extremely risky. If your product systems or team are not ready, growing fast can cause everything to break. You end up with unhappy customers, overstretched staff, and a business that can collapse under its own weight. Here is your reality check: growing too quickly is a leading cause of startup failure. Over 70% of startups fail due to scaling before they're ready. That's a huge number. It means a lot of businesses might have survived if they had grown at a steadier pace. So why is scaling too fast so dangerous? Imagine you suddenly triple your customers overnight. Sounds great, right? But can you deliver your product or service at triple capacity with consistent quality? If not, those new customers will be upset and leave and your reputation will tank. Or consider costs. Scaling often means spending money on inventory, on staff, on a bigger space. If you scale up your revenue slower than your expenses, you can burn through cash. Which ties us back to mistake number 3. Many startups take on big expenses expecting future income that doesn't materialize in time. A famous example is fab.com, a once hyped e-commerce startup. They raised over $300 million in investments, which should have been plenty of fuel to grow. And they did, too fast. Fab.com expanded aggressively, hiring lots of people and spending big, but they hadn't nailed down the sustainable business model or solid profitability. They grew users quickly but couldn't keep them, and their costs blew up. Within a few years, Fab.com crashed and burned, selling for a tiny fraction of its previous value. They're a case study now on how not to scale. The lesson: more isn't always better, especially not all at once. In a downturn, the temptation might be a bit less to overscale since you're cautious, but it can still happen. For instance, if you see a sudden opportunity, Maybe a competitor went under and you try to grab all their customers overnight without preparing. You could choke on that growth. Also, chasing growth in a recession by slashing prices or overextending can backfire. Sustainable growth beats rapid, unsteady growth every time. So here's what you can do instead. Focus on steady, sustainable growth. Think of building your business like building a house. You need a strong foundation. Before you add extra floors. In business, that foundation is product-market fit and solid operations. Product-market fit means you're sure people truly want what you offer and you can consistently deliver value at a price that works. If you're still getting inconsistent feedback or struggling to fulfill orders on time, that's a sign to stabilize before you expand. Grow in stages. Set milestones. For example, When we consistently sell X units a month with good customer satisfaction, we'll consider expanding. Or once we have X amount in steady cash flow, we'll hire another salesperson. This way, growth is tied to real indicators that you're ready. Keep an eye on your metrics: customer satisfaction, repeat purchase rates, profit margins, etc. If any of those are dropping, fix that before trying to scale more. It's like in a game, level up after you beat the boss at the current level. Not while you're still fighting it. When you do decide to scale, do pilot tests. For instance, if you want to expand into a new market or release a new product line, do a smaller trial run. See what issues come up, learn from it, improve, then expand further. This way you catch problems early when they're easier to manage. Also, control the pace of hiring. Hire slow and intentionally. One good hire is better than 5 rushed ones who might not be the right fit. Each new team member should fill a clear need. And remember, More employees means more management needed. Ensure you have structure in place so people know their roles and responsibilities. And here's another tip: maintain financial discipline even more when you have more money coming in. Don't assume a good month means it will be good forever. As you scale, continue to forecast worst-case scenarios. What if that big client leaves, etc.? So you don't overshoot. Grow with purpose, not ego. It's not about bragging how fast you grew. It's about remaining in business and thriving years from now. As one startup advisor put it, build a solid foundation before expansion fever hits. Perfect your core business, then scale gradually, making sure your cash flow, team, and processes can grow together. If something starts breaking as you grow, don't be afraid to pause and fix it. A slower, healthier growth beats a rapid rise followed by a crash. Your business is a marathon, not a sprint, especially in a downturn economy. Pace yourself and you'll go much further. And mistake number 7 is giving up too soon. You have a lack of patience and persistence. So mistake here is expecting overnight success and losing heart when it doesn't happen. This is a mindset mistake that catches many new entrepreneurs by surprise. So you launch, you have big dreams, and when you hit your first serious roadblock or when sales slow down for a few months, you think it's not working, I should quit. In a downturn, this feeling can be even stronger because progress might be slower. But the hard truth is most businesses take time to really take off. If you give up too early, you might be abandoning ship just before it starts to catch the wind. So here's your reality check. Building a successful business is a long game. Most small businesses take at least 2 to 3 years to become profitable and truly massive success, often 7 to 10 years to hit their stride. Those overnight success stories you hear are usually myths. Even companies like Facebook or Tesla spent years in development or had several slow years before things exploded. And behind the scenes, there were likely multiple near-fail moments. The journey is full of ups and downs. According to the Bureau of Labor Statistics, about 20% of businesses fail in the first year and around 50% by the fifth year. Why am I telling you this? Not to scare you. But to highlight that success rarely happens fast. Those that do make it are often the ones who persisted through the early tough years. A great example of persistence is Airbnb. Today, Airbnb is a huge company valued in the billions, but in the beginning it struggled hard. The founders launched during the 2008 downturn, and at first barely anyone was using the site to book rooms. They maxed out credit cards and even sold breakfast cereal in election-themed boxes just to scrape by and keep the company afloat. They literally went door to door to get new users and investors. They faced rejection after rejection. It would have been so easy for them to say, this isn't working, let's quit. But they didn't give up. Eventually, they gained traction, got an investor after many said no, and the rest is history. If they had quit in those dark days, we wouldn't even know their names today. Their story shows that you might be this close to success without realizing it. And if you quit, You'll never know. As Thomas Edison famously said, many of life's failures are people who did not realize how close they were to success when they gave up. So here's what you can do instead. Practice patience and resilience. So go into your business with the mindset that you're in this for the long haul. That means emotionally preparing for slow periods, for setbacks, and for many iterations. Don't interpret slow growth as failure. See it as learning. Ask any seasoned entrepreneur and they'll tell you stories of how long it took to get their first steady clients or to turn a profit. It's normal. You have to keep pushing and keep improving. Think of entrepreneurship as a marathon, not a sprint. If you sprint too hard and expect to finish in record time, you will burn out. Instead, you keep a steady pace, and when things get tough, you dig deep rather than bow out. One way to stay motivated is to remember your why. Why did you start this business? Is it to solve a problem you're really passionate about? Is it to create a better life for your family? Keep that purpose in front of you, especially when results are slow. That will fuel you to persevere. Also, set realistic expectations and milestones. Instead of, I must make a million in my first year, focus on achievable goals like gain 100 loyal customers or reach a certain monthly revenue that covers expenses. Celebrate small wins—each sale, each positive customer review, each improvement. This will keep morale up. Importantly, be adaptable when things aren't working. Not giving up doesn't mean keep doing the same thing, failing over and over and over again. It means keep trying new angles until it works. Maybe your first strategy, it's not hitting the mark. That's okay. Tweak it. Persistence is about being committed to the end goal, which is a successful business, not a rigid path of how to get there. If Plan A fails, go to Plan B, Plan C, whatever it takes. Every time you encounter failure, treat it as a lesson. Ask, what can I learn from this? How can I do it better? And then apply it to the next time. Surround yourself with supportive people, mentors, fellow entrepreneurs, friends who encourage you when you feel discouraged. Sometimes just hearing, hey, you're doing good, keep at it, from someone who's been there can bolster your resolve. And remember mistake number 2: you don't have to tough it out completely alone. Seek advice when you hit a wall. Lastly, keep an eye on the long-term vision. Picture the successful business you want to be in 5 or 10 years. Keep that vision alive. It can carry you through your rough days. In a downturn, conditions may improve by the time you hit year 3 or 5. You want to be there when the tide turns, having built your foundation during the hard times. The founders who persist when others quit are the ones who will be perfectly positioned when the economy picks up again. Don't quit early. As long as you still have resources and ideas to try, keep going. The only sure way to fail is to give up, because success might be closer than you think. Be patient, stay hungry, and keep believing in your dream even when it's not visible yet. Every big success story is written with chapters of struggle. Embrace yours and keep writing the next chapter. So we've covered a lot, from mindset and money mistakes to marketing, leadership, products, growth pitfalls. Avoiding these 7 mistakes will give your new business a fighting chance even in a downturn. Remember that every huge company started small and faced challenges. The fact that you're starting a business right now in a tough economy shows that you have courage and determination. That's something many people lack. So give yourself some credit for that. And now commit to following through with smart choices. Success in business isn't about never making mistakes. You will make some, and that's okay. It's about learning quickly and persevering. When you make a misstep, you correct it and keep moving forward. When you fall, you get back up. Each of these mistakes we talked about is avoidable with awareness and action. Now you have that awareness. You're already ahead of many beginners who dive in blind. Picture yourself a year from now running a thriving business. Looking back on these early days, the economy might be better. Maybe it's worse. Doesn't matter because you built something that can weather any storm. Why? Because you had the right mindset. You built a strong team and network. You managed your money wisely. You continually reached out to your customers. You grew at the right pace and you never gave up. That is the path to success. So as you step forward, face the challenges with confidence, you know, the traps to avoid, stay focused on serving your customers and improving each day. Keep pushing, keep innovating, and keep believing in yourself and your mission. Downtimes create the best entrepreneurs. Those who can do well now will soar when things get better. The road might not be easy, but it will be worth it. Every setback is that setup for a comeback. Every mistake, a lesson that makes you stronger. You have everything it takes to build your dream. You have the knowledge, the grit, and now the insight into what not to do. So it's time to apply these lessons. Start your journey and make your business vision a reality. Don't wait for permission or perfect conditions. You have the power to create your own success story starting today, even in a downturn. Go for it with all your heart and smart planning. And remember, the only way you fail is if you quit. So keep going, keep learning, and keep believing. Your success story is waiting to be written. So pick up the pen and write it. You've got this. Believe. If you want to learn how to find a profitable business idea, check out the video right there next to me. I think you'll love it. Continue to believe. I'll see you there. You want to start a business, but you're struggling to come up with the right idea. Sound familiar? If so, you are not alone and you're in the right place. Today, I'm going to help you find a profitable business idea that not only makes money,