Mistakes to be avoid by startups | Fusion - WeRIndia

Mistakes to be avoid by startups

Mistakes to be avoid by startups

If you are starting a business, there are few things that you need to remember. Avoid the following mistakes to get better success.

  1. Not researching your target market
  2. Incomplete business plan
  3. Obtaining loans from friends and family
  4. Expecting immediate profit
  5. Not focusing on the client
  6. Disregarding controlled testing
  7. Counting on your own legal and accounting skills
  8. Trusting verbal agreements
  9. Attempting to try and do everything alone
  10. Sacrificing personal relationships for the business
  11. Doing what you like
  12. Ignoring the competition
  13. Not taking under consideration your own strengths and weaknesses
  14. Not understanding what you’re really selling
  15. Not ensuring you have got enough cash
  16. Not investing in marketing
  17. Not understanding technology
  18. Keeping a 24-7 operating schedule
  19. Too several calls to and from family and friends
  20. being too busy to remain organized
  21. Beginning each day without an idea
  22. Weak monetary designing
  23. Setting non-realistic, non-measurable goals
  24. Hiring wrong individuals
  25. Not planning ahead
  26. Waiting long to sell
  27. Selling to the incorrect person
  28. Not having enough emergency funds
  29. Not having a backup plan
  30. Focusing an excessive amount of on results
  31. Lack of strategy
  32. Not executing the strategy as needed
  33. No room for criticism
  34. Led by too many opinions
  35. Losing /diverting focus
  36. Acting on assumptions
  37. Underestimating manpower wants
  38. Unhealthy pricing
  39. Concentrating completely on sales
  40. Extending credit too early

Image Reference: Zaetric

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