The 8 Common Mistakes Many Start-Ups Make

Sunday, May 13th, 2012 - Entrepreneurialism

 The 8 Common Mistakes Many Start-Ups Make

The 8 Common Mistakes Many Start-Ups MakeOver 5, 000, 000 dissimilar businesses are present-day each duration, but millions will fail, and most unlike businesses fail for the duplicate sets of reasons. Here are 8 common mistakes why start – ups fail. Please avoid them. The 8 Common Mistakes Many Start-Ups Make

1. Poll a bad business space

2. Selection the spurious customers

3. Man-sized to sell the goofed product

4. Selling for the spurious price

5. Overestimating the unit of and the speed of the customer purchases

6. Mismanaging the business

7. Failure to hire and retain the merited nation

8. Being unable to cultivate or scale the business to accommodate growth.

Sometime, learned are two ways to extension your chances to entrepreneurial realization. One – major in the business – industry effect and specialize in a business before introductory a coincidental business. Receive about the suppliers, the customers, how to operate the business for some senility and since vigor and start a parallel business. Examples: Starbucks, EDS, Wal – Bazaar and Intel. Two – start your item – month business – season your go assignment and institute your business at nights and on the lifetime – ends and conformation tangible up before quitting your tempo job. Examples: Ford Motor Company. The 8 Common Mistakes Many Start-Ups Make


Remember three business rules:
#1. Follow the money – cash is king.
#2. The sole purpose of business is to serve customers.
#3. Customers know best what they need.
Are You An Entrepreneur? Have You Got What It Takes?

Many people think that to be successful entrepreneur, you need to be smart, have money, have a university degree, be an inventor, do something which never has been done before, and / or be willing to risk all your savings and your family ‘ s money. But it ‘ s wrong, WRONG and WRONG.

Here are some basic questions you can ask yourself:

1. Are you basically self – motivated in at least a few constructive pursuits, like music, a job, or a hobby of some kind?
2. Do you like having money?
3. Do you have a realistic perception of money?
4. Do you sort of know and take an interest in what is going on around you?
5. If you hit a brick wall do you give up or do you persevere?
6. Do you look after yourself or do you need to be nagged?
7. Do you mix OK with people?
8. Do you try new things and learn from them?
9. Can you take criticism?
10. Are you a sincere and honest person?
11. Do you enjoy dealing with the public?
12. Are you an organized individual?

If you answered ‘ yes ‘ or ‘ sort of ‘ to at least six of these questions, then congratulations!. The 8 Common Mistakes Many Start-Ups Make


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