I think one huge mistake I see a lot of small business owners making when it comes to social media is spreading themselves too thin. It is best to really think what types of social media help you specifically and then focus on those. There are so many choices these days on how to promote yourself socially and if you have a small budget sometimes it is hard to tackle every single new technology that pops up. Focus on one or two platforms and then grow from there. Its about quality not quantity in social media and I see a lot of first time business owners get lost in the sea of the internet and information.