Russell Sergent has been a successful businessman near his hometown community of Rockford, Illinois for over 20 years. He has made plenty of mistakes over the years, but he has also learned from most of them and now knows how to avoid them in the future. Sergent started with a janitorial supply company called Pro-Source Distributors and now owns several businesses in the area more focused on his personal interests, such as distance running, snowmobiling, and more. He has been able to chase his dreams by avoiding disaster and moving on from his mistakes. Here are a few common mistakes he has made in his early business career that many young entrepreneurs still make:
- Analysis paralysis. Russell Sergent has always been a careful businessman, but early in his career, he was too careful. Sometimes, crunching the numbers endlessly only leads to inaction, which can be the kiss of death for many businesses. Sometimes, you’ll never know how a particular move will pan out until you set it in motion. Running a business involves risk. No amount of analysis will prevent that.
- Forgetting about feedback. Russell Sergent would have been completely lost without client feedback early in his first business venture. Always test your ideas before rolling out a new feature, product, service, or marketing effort with a focus group of some kind.
- Slouching on networking efforts. If you only try to network with people when you need something, you’ll find yourself alone and out of luck. Take advantage of every opportunity to network with others who could potentially help you in the future.
Russell Sergent lives and works in Rockford, Illinois.