Business
The 5 Biggest Mistakes That First-Time Entrepreneurs Make
Becoming an entrepreneur is the dream of many, and that’s understandable, seeing as it comes with a lot of amazing benefits. However, when they finally achieve this dream, a large percentage of people often end up with failed businesses.
Based on information from the US Bureau of Labor Statistics, over 20% of startup businesses fail within the two years of establishment and about 50% by the fifth year. Overall, it was concluded that 75% of new businesses don’t make it to the 15th year. This is mostly a result of some rather common mistakes that could be easily avoided.
Sebastian Scheplitz, Founder and CEO of an agency network of five agencies and two e-commerce businesses, has had his fair share of problems between being in a coma, being bullied, and being unemployed. Before founding his first company, he got a degree in international marketing, PR, and business. And now, his content marketing agency for the iGaming industry, Translation Royale, has grown to become one of the top three agencies in Europe for this expertise. Shortly after, he created four more agencies, The Content Spa, Hotcopy Asia, Mastercut Video, and oak & bao, and has started two e-commerce brands.
Sebastian provides insight on some of the 5 most common mistakes first-time entrepreneurs make:

Not Having a Clear Plan and Business Strategy
The current business world is developing rapidly and therefore becoming more complicated and competitive. This is why it is more important now than before to always have a clear plan and sound business strategy. Entrepreneurs have to stand out in the market, so copying the business strategy of another business and hoping it works out may end up being disastrous for the business.
Improvising when it comes to business strategy is also not encouraged as it can often lead to a waste of capital and resources. Sebastian suggests that you have clear goals to succeed: “Don’t say you want to make more in sales; say ‘I want to sell x number more. This means x phone calls per day/x amount of ad spend more.’ Don’t say, ‘My own business would be nice’ say ‘On Saturday, I’m planning to research business ideas for four hours; and on Sunday I’m going to research competitors for each. This weekend I’m going to write a short non-detailed business plan, and print it, laminate it – so I can work with it going forward.’”
Having a Bad Support System
One of the best traits of a successful entrepreneur is accepting that you can’t handle everything alone. So you need to create a support system of people who can contribute to your goal and give you the moral support you need on your goal. According to Sebastian, nothing ruins your life and, therefore, your business more than toxic people.
The business world can be a risky place. There are factors you cannot control, like the fluctuations in the global market and environmental factors. But there are also factors you can control, and one of them is your support system. This is why you should not take it for granted.
Waiting Too Long To Launch
A lot of first-time entrepreneurs end up wasting a lot of time overthinking the same things. They always want to launch the perfect product and end up delaying the launch. But the longer the delay in launching, the more they will start to obsess over inconsequential details. Sebastian advises that you should not fall for the trap of over-researching and over-strategizing.
Waiting too long to launch can lead to a significant waste of time, capital, and resources to create a product that does not align with the consumer’s needs. The best thing to do is to launch an MVP, a minimum viable product, test for market fit, determine areas that can be improved and modify the product as time goes on. Think of it this way, iPhone 12 is a long way from iPhone 1.
Not Having a Target Audience
One of the most common mistakes first-time entrepreneurs often make is not researching the market properly to determine their target audience. It is very inefficient to build a product for every possible audience. Although everyone is a potential customer, without a target audience, even the greatest marketing campaigns can become useless once the message is misdirected.
So, in order to create a successful marketing campaign, it is important to narrow down your target audience. While researching your target audience, you need to understand all their pain points. You can even create different campaigns to target different groups for the same products. However, Sebastian recommends that you start with one of them first and focus your efforts on this group instead of trying to appeal to everyone.
Not Having a Good Work-Life Balance
New business owners are often tempted to always put their business first and neglect other aspects of their life. However, this can be very harmful to both your business and your personal life. It is important that you dedicate adequate time for both your personal and business life because any negative effects on your personal life will affect your business and vice versa.
Sebastian, who also spent time on Japanese Studies at university, explains that according to Ikigai, a Japanese concept referring to something that gives a person a sense of purpose in their lives, there are four pillars to find happiness. They are work life, relationships, wealth, and health. He further explained that if you leave one out, your life will lose its stability. You can always choose to emphasize one or two of them for a short period. But ultimately, your life, and therefore, the business will only run smoothly if all of them are stable.
Concluding Thoughts
Launching a business is the simple part; even if it doesn’t always feel like it, keeping the business alive can be even more challenging. Statistics have shown that the odds might not be in favor of new businesses.
Despite this, one should not despair because the reason why most new businesses fail can be traced back to a few common mistakes; Not having a clear plan and business strategy, Having a bad support system, Waiting too long to launch, Not having a target audience and Not having a good work-life balance.
So as long as you work hard and avoid these common mistakes, your chance of creating a successful business is very high.
Business
Ethical Affiliate marketing : Defining the Conflict
Affiliate marketing in the online casino industry walks a fine line between commercial interest and editorial integrity. Affiliates earn commissions when players register or deposit through affiliate links, yet these same affiliates often publish reviews claiming to guide users toward the best and safest operators. This dual role creates a potential conflict of interest: can a reviewer remain truly objective while being financially rewarded for player conversions?
This ethical tension is not hypothetical, it defines the entire casino review system. Readers expect independent recommendations, while advertisers aim for visibility and sign-ups. The challenge, therefore, lies in ensuring that commercial necessity never compromises editorial honesty. Without clear ethical structures, the trust between affiliate and reader quickly collapses, breaking the foundation of any long-lasting brand in the iGaming space.
The Ethical Solution: Editorial Firewalls
Responsible affiliates have developed a structural response to this dilemma known as the “editorial firewall.” This principle strictly separates commercial operations (such as partner negotiations and commission management) from editorial teams responsible for content, ratings, and recommendations. By preventing advertisers or commercial staff from influencing content, affiliates safeguard the objectivity of their reviews.
Antti Virtanen, Editor in Chief of Kasinohai, explains this responsibility clearly:
“My primary responsibility is to maintain the editorial firewall. If an advertiser’s payment can influence a casino’s star rating, we have failed our readers, and that short-term gain will instantly destroy the decade of trust we have built.”
The editorial firewall functions much like journalistic separation between newsroom and advertising department. Editors work with established criteria: licensing, game variety, payment methods, and player protection measures. Without any interference from commercial targets. When this discipline is followed, affiliates can confidently assure readers that ratings reflect evidence-based quality, not marketing budgets.
Maintaining such independence often comes with short-term sacrifices: rejecting lucrative offers from less trustworthy operators or declining to modify reviews to appease advertisers. Yet, for ethical affiliates, these sacrifices strengthen the brand’s reputation and guarantee the long-term viability of their business model.
Prioritizing Safety and Trust
True ethical affiliation starts with a single non-negotiable principle: only promote casinos that are safe, licensed, and compliant with responsible gambling regulations. Trust begins at selection. Every casino under review should pass a rigorous safety audit, covering valid gaming licenses, secure payment processing, transparent bonus terms, and the presence of responsible gambling tools such as deposit limits and self-exclusion options.
Antti Virtanen underlines this commitment:
“The ethical commitment begins at the gate: our first and most important filter is licensing and player safety. Any operator that fails our rigorous background checks on responsible gaming tools, fair terms, or payment security will never be promoted, regardless of their commercial offering.”
By excluding unsafe or unlicensed platforms, affiliates act as front-line gatekeepers, shielding players from potential fraud or exploitative practices. Ethical affiliates must also stay proactive, regularly updating their databases and removing any operators that lose licenses, alter fair terms, or develop unresolved consumer complaints. This proactive maintenance shows readers that the site’s focus is not only on visibility but on genuine player well-being.
Ethics in affiliate marketing also extend to how bonuses and offers are presented. Affiliates must reject misleading promotions that hide behind fine print or impose unrealistic wagering requirements. Fair representation of bonus terms not only protects players but also differentiates responsible affiliates from competitors who prioritize click volume over credibility.
Transparent Disclosure
Transparency is a cornerstone of ethical affiliate marketing. Readers deserve to understand how affiliate links work and how they affect the content they see. A clear, accessible disclosure explains that the affiliate may receive compensation when users register or deposit through referral links. However, this relationship should never impact the user’s cost, terms, or overall experience on the casino site.
The purpose of transparency is twofold: it builds trust with readers and aligns with regulatory expectations for advertising disclosures. A good disclosure statement is not hidden in small print; it’s presented as part of the site’s editorial ethic. It assures visitors that commercial partnerships never influence ratings, reviews, or recommendations.
In practice, this can appear as a brief statement at the start or end of a review, linking to a detailed explanation of the site’s business model. Clear communication empowers readers to make informed decisions and it alleviates the underlying skepticism that often surrounds online casino reviews.
Transparency also extends to responsible gambling communication. Affiliates should remind readers that gambling involves risk and provide visible links to national helplines, self-exclusion tools, and player protection resources. When ethical values are embedded not only in compliance checklists but also in editorial tone, the brand earns genuine user respect.
Long-Term Value
The ultimate goal of ethical affiliate marketing is sustainability building a relationship of long-term trust that outlasts the allure of short-term profits. A single misleading recommendation might boost conversions temporarily, but the resulting loss of credibility can permanently damage a brand.
Antti Virtanen captures this philosophy:
“In the end, ethical affiliate marketing is not a high-volume business; it’s a high-trust business. Our long-term success isn’t measured by the conversion rate of a click, but by the number of players who return to us because we saved them from a poor or unsafe experience.”
This perspective reframes success away from mere performance metrics toward qualitative measures: user satisfaction, returning readership, and brand reliability. Ethical affiliates understand that authority and trust cannot be purchased—they are earned through consistent transparency, careful editorial standards, and user-focused decision-making.
Long-term value also aligns with broader industry goals of promoting responsible gambling and sustainable player engagement. Affiliates that champion these principles contribute positively to the reputation of the iGaming industry as a whole.
Ethical affiliate marketing is not a static policy it is an ongoing commitment to transparency, responsibility, and respect for the audience’s trust. Establishing strict editorial firewalls, prioritizing player safety, and maintaining open disclosure practices form the blueprint for sustainable success. In an environment driven by competition and revenue potential, ethics are not a hindrance but the very strategy that distinguishes credible affiliates from the rest.
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