What are the top start-up business mistakes?

[inexorable]

Sales ... single biggest problem. If people were able to correctly seek out potential customers they wouldn't have as many problems. The lack of sales knowledge is the biggest problem I see.

...especially for computer repair businesses.

[sarahshaw]

Here are my top 10 reasons that fashion/accessory/beauty lines fail

1. Weak market research - is it out there already?
2. Failure to protect your idea - patents and trademarks
2. Not having enough start-up money
3. Wearing all the hats for too long
4. Isolating yourself
5. Marginal Sales techniques
6. Bad margins
7. Manufacturing problems
8. Inventory choking you
9. No money for growth
10. You are standing in your own way.

[graphic designer]

not trying enough marketing ideas sticking to only a few

Like more clients. Jart me down. Stand out from the crowd with an eye catching logo or biz card flyer etc. I am affordable and fast. Call

[FrancisR]

investing everything in one place..

and no back-up plan in case things go wrong.

[gggreen]

failing to devise effective marketing and operational strategies and just taking top-down approach for business

[AMetaj]

My first business' name hurt me. After that I lost momentum, and it took me a while to get back on track.

[ADNdesigner]

The most common mistake that business are doing.
Think in get money, but not so much about satisfy people necesities.

[Barkri12]

MISTAKE NUMBER ONE: No Business Plan. How can you build a house or car or anything without a drawing or a plan? Where is the foundation? How will the contractor know where to place the windows and doors? Where is the budget for products, services, or marketing? What are the annual projections for sales and expenses? Where do you want to be in one, three, or five years? And yet most businesses have no such plan and therefore are driving forward blindly. Get a clue and have a plan.

MISTAKE NUMBER TWO: Lack of Research. When you decided to sell your product or service, did you research the competition and the marketplace? Did you examine all the other similar items and how they are marketed? Without a detailed knowledge of the other guys and how they operate, how can you be competitive and price yourself properly? Are you filling a need and providing features and benefits that are wanted in the marketing arena? Or are you just hoping someone will buy your stuff because it’s there? Always be researching.

MISTAKE NUMBER THREE: Under-Funding. Have you got enough money to survive the initial start-up and the ongoing bad times? Look at the house-building analogy. When was the last time a house came in cheaper than expected? There are always unforeseen costs associated with business ventures. Look at the expenses; insurance, staff, buildings, utilities, equipment, accounting, legal and other fees, internet, advertising, and taxes. Did you allow just enough for each? Well that’s too little. Where’s the emergency fund for the unexpected costs? If you are serious about survival, you need that extra insurance fund.

[gggreen]

the post just above seems very crisp... i admire your views mate!!

[graphic designer]

Not enough good ideas on how to promote your product or services, I feel is a major mistake.

Get more Clients. I provide affordable graphic design services. Such as business cards etc.

[gotbiz]

I find alot of failures were when the momentum stopped and couldn't get it back. People get tired and just run out of gas.

[STSun]

Number 1 baby.. I fall straight into that one hah.

[instigo]

I think there are loads of articles written on this - namely the Harvard Business version "17 Mistakes StartUps Make".

If I had to sum it up, I would say that there are 2 Big mistakes that are made:
1. Lack of Funding & Planning : This includes Market timing, poor budgeting, etc

2. Lack of the Right Expertise & Skills : This includes the failure to rope in talent,not partnering with people with the right skill sets, etc.

Would love to speak more on these at a personal level to those who are now starting up. Please look me up at Facebook (Michael Reyes) or follow me on Twitter - @ReyesMike

[graphic designer]

Not building relationships first people are less likely to hire you if they don't know you at least a little.

[Capital Typing]

How about not realising the services that are available to help in starting your own business. It's hard to do it alone, and it's hard to find a good team that can support you without putting your over-head through the roof!