The Biggest Financial Mistake New Entrepreneurs Make – Doing Too Much, Too Soon
- Laura Warta, CFP®, ChFC®
- Oct 9
- 3 min read
Visionaries in the Making
Starting your own business is thrilling. You’ve got a vision, energy to spare, and the drive to make it happen. But with excitement often comes a dangerous temptation: trying to do everything at once.
For young entrepreneurs, this “do it all now” mindset can lead to costly financial missteps. Instead of building a strong foundation, many end up rushing into big moves that create unnecessary stress and long-term problems
The Pressure to Act Fast
When you’re just starting out, the pressure is real. You might feel like you need to:
Reinvest every dollar of profit back into the business
Take out large loans to expand quickly
Hire a team before your revenue can comfortable support payroll
Put off saving for yourself because “the business will take care of me later.”
On the surface, these decisions may seem bold and ambitious. But without careful planning, they can actually put your business – and your personal financial security – at risk.
Why “Doing Nothing” Can Be the Smartest First Step
It may sound counterintuitive, but sometimes the wisest move in the early stages of entrepreneurship is to pause. That doesn’t mean doing nothing forever – it means resisting the urge to leap into big financial communities until you have a clear plan in place. One of the best ways to do this is by applying an Impact Filter: asking yourself why this decision matters, what success would look like, what risks you must avoid, and what small steps should come first
Slowing down allows you to:
Understand your true cash flow before committing to expenses.
Build a cushion of savings to protect both your business and personal life.
Evaluate opportunities with a clear head rather than reacting to pressure.
Align your business growth with your long-term goals, not just short-term excitement.
In other words, “doing nothing” isn’t inaction – its intentional patience.
Why Having a CFP® Professional Partner Matters
Entrepreneurship is a balancing act: you’re building a business while also trying to protect your personal financial future. It's easy to overlook one in favor of the other. A financial partner can provide perspective and guidance during important transitions.
As a CFP® professional who specializes in guiding clients through life’s biggest transitions, I help young entrepreneurs slow down, focus, and prioritize. My role is to help you:
Provide guidance on separating business and personal finances to help reduce the risk that one impacts the other.
Work with you to develop strategies for managing taxes, savings, and debt in a thoughtful way.
Help you evaluate when reinvesting in growth may be appropriate and when waiting could be beneficial.
Collaborate with you on a financial plan designed to align your business goals with your personal financial priorities.
Moving from Overwhelm to Confidence
The early days of entrepreneurship don’t have to be chaotic. With the right planning, you can avoid the trap of “doing too much, too soon” and instead build business – and a life – on a steady foundation.
Remember: success isn’t about rushing. It’s about creating clarity, protecting your future, and moving forward with confidence. And you don’t have to do it alone.
Connect with Me
The information provided is for educational purposes only and should not be construed as personalized investment advice. Investment advisory services are offered through Keating Financial Advisory Services, Inc. (KFAS), a registered investment adviser. For more information about our services, including fees and potential conflicts of interest, please review our Form ADV Part 2A and Form CRS, available upon request or at adviserinfo.sec.gov. Past performance is not indicative of future results. All investing involves risk, including possible loss of principal.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP® in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
Comments