Starting a Business is not always easy. There are so many decisions to make and so many things to think about; this pressure can cause you to make very poor decisions can adversely affect your business. While there isn’t a full-fleshed concise plan on Sart-Up Success, there are certain Loopholes you should be keen on avoiding.
Summarized below are some 4 common mistakes Startuppers do make:
1) Poor Planning and Commitment:
As they Say, proper Preparations prevent poor performance. Planning may be tedious, but it’s worth it. Without a Solid Business Plan for your business, the Business is bound to fail. There are also some other important Plans
2) Spending (OverSpending and UnderSpending):
Starting a business requires just the right Capital. Not More not Less. Some new business owners think they need to Spend
Nonetheless, UnderSpending also happens to be an issue. Some New Business Owners would tend to over analyze some tools and may even neglect or disregard some of these tools.
3) Little or No Marketing:
Marketing can take many forms from being Traditional like Referral Word of Mouth to Traditional Adverts to Digital Marketing. A good product is Nothing Without a Marketing Campaign. You need people to be aware of your product. It makes no sense making the Best Mobile Phones in the World and People aren’t aware of such a product.
4) Avoiding New Technologies:
As Small Business Owners, Technology tends to be really important. They make your work easier by assisting in automating most of the tasks. New Technology may be intimidating and require time to learn and understand. Not only new technologies are important also adapting to current Market trends. The Almighty Nokia fell because they failed to see the rise of Smartphones and the Android OS.