5 Critical Mistakes That Cause young entrepreneurs to Fail – fix them now:

Did you know that 90% of startups fail within the first few years? Surprisingly, it’s not because the founders lack ideas, talent, or skills. Instead, failure often stems from a few key mistakes that most entrepreneurs unknowingly make.

I’ve made many of these mistakes myself. Over the years, I’ve tried crypto, forex, e-commerce, marketing, and more—thinking that the more things I tried, the more successful I would be. But instead of success, I ended up feeling burnt out and stuck.

Everything changed when I decided to focus solely on Digital marketing. Since then, I’ve generated over $millions in revenue for myself, my students and my clients. In this article, I’ll share the five costly mistakes that young entrepreneurs make, how to avoid them, and what to do instead to build a successful business online.

Let’s dive in!

Mistake #1: Chasing Too Many Ideas

When I first started few years ago, I wanted to try everything. I was involved in crypto, forex, sale, freelancing, marketing, and e-commerce etc, constantly chasing new opportunities. I believed that doing more things would lead to more success and of course more money. 

But here’s the hard truth:

“If you chase too many rabbits, you’ll catch none.”

Everything changed when I focused on one thing—digital marketing. I put all my time, effort, and energy into mastering it, and the results were incredible. Under digital marketing, i was able to scale my 6 figure blogs, youtube channels and also build up my digital agency Paddedvibez media which is a registered entity in lagos Nigeria

A common misconception is that successful people have multiple streams of income. While billionaires like Elon Musk, Jeff Bezos, and Bill Gates now have diverse investments, they didn’t start that way.

For example:

• Elon Musk started with PayPal and paypal became popular before moving on to SpaceX and Tesla.
• Jeff Bezos focused on Amazon before expanding into cloud computing and other ventures.

Instead of digging seven dry holes, dig one deep well until you find water. Focus on one idea, master it, and scale it before diversifying.

Ask yourself:

“What is the one skill or business idea that, if I focus on it right now, can change everything for me?”

It could be Blogging, YouTube automation, freelancing etc Once you find that answer, commit to it and don’t get distracted, even when the income is not fast flowing the way you expected it to be 

Mistake #2: Underestimating the Importance of Sales

I learned this the hard way.

When I launched my first product few years back without audience, a well-designed ebook on making money online, I thought people would rush to buy it. I even ran Facebook ads to promote it.

Guess what happened?

Not a single sale.

The only person who contacted me asked for a discount—even though the price was already ridiculously low!

That experience taught me a crucial lesson:

“A great product means nothing if you don’t know how to sell it.”

So, I made a decision. I started studying sales and marketing, watching YouTube videos, buying courses, and practicing sales techniques. I have always developed the mindset of paying for knowledge,  so spending money has alwsy been part of the game plan.

Fast forward a few years, and I helped a creator launch an online course that did $hundreds in sales within a year.

The difference?

I learned how to sell.

Sales is the lifeblood of your business. If you can’t sell, your business won’t survive. Start studying why people buy, sales psychology, and marketing strategies. The better you get at selling, the more successful you’ll become. This also boost my blogging career,  Helping me put my contents out there to my targeted audience.

Mistake #3: Lacking the Courage to Take Bold Action

Many entrepreneurs fail because they’re afraid to take risks. They fear rejection, failure or loss, so they:

• Avoid investing their money
• Don’t pitch their ideas
• Hesitate to start that business
• Never follow up on opportunities

But here’s the reality:

Successful people don’t wait for opportunities—they create them.

For example, many people ask how I get high-profile companies and individual for my digital agency for services like website design,  business coaching,  partnerships etc . Some assume it’s magic. It’s not.

I reach out. I send messages, I follow up, and I stay persistent. I’ve been rejected many times, but I keep pushing forward. These are what happens at the backend.

And here’s the thing:

Every “no” brings you closer to a “yes.”

So, stop hesitating. Reach out, ask for opportunities, pitch your ideas, if its a business that you want to start, invest the money, speak and the let the world hear you and also be bold. Nobody bites. (Okay, maybe some do, but not enough to stop you!)

Mistake #4: Not Building a Personal Brand

In today’s world, your personal brand is your greatest asset. It helps people trust you, buy from you, and refer others to you.

I started as mins john francis, teaching people how to make money online, start a profitable blog, youtube automation,  cpa and affiliate etc.  Today, I’m known as Paddedvibez media and i have couple of team members who work in my firm both remote and on-site,  from website designers, blog writers,  app developers,  and more.., yet my audience has followed me throughout my journey.

Why?

Because I built a strong personal brand.

A personal brand gives you flexibility. Whether you switch industries, launch new businesses, or explore different ventures, your audience stays with you.

For example:

• If I decide to go into real estate tomorrow, my brand still stands.
• If I pivot into movies or tech, my audience still follows me.

That’s the power of personal branding.

So, start building your brand today:

✅ Record videos

✅️write on your blog
✅ Document your journey
✅ Write online media (Facebook, X/Twitter, LinkedIn)
✅ Be consistent on TikTok and other platforms

Your personal brand will open doors you never imagined. Many of my biggest opportunities—speaking gigs, partnerships, and collaborations—came because people found me online.

Mistake #5: Not Networking

“Your network is your net worth.”

It sounds cliché, but it’s 100% true.

Early on, I thought I could figure everything out by myself. But my biggest opportunities came from the people I knew—not just what I knew.

One of the most profitable projects I ever worked on came from a collaboration with a stranger. We met through a mutual connection, built trust, and launched something life-changing.

That’s why you should start networking now:

• Attend events
• Join online communities
• Send connection messages like: “I admire your work, let’s connect.”
• Engage with people in your industry

One introduction, conversation, or connection can change your life.

Final Thoughts: How to Succeed as an Entrepreneur in 2025

To build a thriving business, avoid these five mistakes:

• ❌ Chasing too many ideas – Focus on one thing
• ❌ Ignoring sales – Learn how to sell
• ❌ Playing it safe – Be bold and take action
• ❌ Neglecting personal branding – Build your online presence
• ❌ Avoiding networking – Connect with people who inspire you

If you’ve been making any of these mistakes, the best time to fix them is now.

What’s one mistake you’ve made, and what are you going to change starting today? Drop a comment below—I’d love to hear from you!

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