What are the top start-up business mistakes?

[gambit]

The Top start-up mistake is GREED

[iketz0]

I think 1,2, and 3 are top reason why many entrepreneur are failing.. For me.. the other reason is only a minor problem that can be resolve..

[sukie]

This thread is awesome. After creating a new product... expecting a website to suck consumers into buying is crazy. our firast run inventory is dedicated to getting it "out of our inventory" and into peoples hands. forget profits all together in the initial short term. You need exposure. Promote promote promote with give-aways and deep discounts to start. Get yourself known.

Everything else will fall into place if you let your business lead you. relax and don't stress.

[andrewlm]

Good post! I'll add few more to the list -

Insufficient Planning
Lack of Traffic
Created Too Rapidly
Competition Is Too Great
Ineffective Marketing

[Lukring]

Forgetting about marketing and expecting customers to come to you.

I agree that this should be added!.. Marketing should not be neglect and should be given a priority!

[downrollings]

"Focused thinking is what it takes to truly get what we want. We can train our brains to be more productive and successful, we've only got to learn how. Unfortunately, this kind of thinking isn't taught in school.

We are born into certain circumstances, but that doesn't mean we are stuck in them. We can change our habits and have it all."

[subhaikav]

It is very useful post which help many to know about their failures. Lack of concentration, Not doing the work at right time, Not giving out quality output are also some of the business mistakes. By going through this thread, i hope many come to know their weakness and change it to their strength.

[jonathanfigaro]

Aiming too low with your business possibles and not believing in yourself and your product.

[Perseus]

To sum up - It's the LACK OF FINANCIAL EDUCATION.
I've met many people who started their businesses (usually small businesses) without any of that education, and it resulted in struggles. They keep on blaming everybody but themselves.

[Perseus]

The solution is KAIZEN - yes, japanese found it half a century ago.
Constant and never ending improvement strategy in business

[Eminalu]

I think Doing it just for the money is the most important reason of lose. Absolutaly, what we do is for money, but not only for money, if you only for money, then you will lose many chances.

[mightyventures]

In addition to your number 5 list about hiring people right away, let me share you a few hiring mistakes in startup businesses:

1. Mismatching people and positions or skills and responsibilites.

2. Hiring people based on potential and promises, instead of track record of results.

3. Interviewing the resume instead of the person.

Which is why I want to tell you about the STAR method for recruiting. I’ve distilled it down to its essence. Hope this helps you make better hires.

Situation: They’ve done the job or not. If hiring a housekeeper, have they cleaned a 4,000 square foot home before? If yes, move on to the next step. If no, b’bye.

Tasks: Do they do laundry in addition to all the other chores involved in cleaning a home impeccably? If yes, move on to the next step. If no, b’bye.

Actions: They say they’ve cleaned a 4,000 square foot home, they say they do laundry, do they fold it and put it in the appropriate drawers? If yes, move on to the next step. If no, b’bye.

Results: Can they clean the home in 5 hours or less 2x per week? Have they done this before? If yes, welcome aboard! If no, b’bye.

[marcoferrari]

Starting a business
is an exciting time. However, it can also be a nightmare if you don't know or fully understand the things you need to do to get your business off the ground.

The following are some list of top start-up mistakes.
1. Not having a business plan

2. Not finding out legal requirements.

3. Not following labor laws.

4. Not having a niche.

5. Failing to research and evaluate before you market

[IBUnderground]

1. Thinking too small - lacking ambition. You have to go for it if you want financial independence. If you think too small you will build a small business - is that what you want?
   
   
2. Not networking. Accept from the start that you need help then network and form alliances and JVs. You will build faster and bigger.

[graphic designer]

too much competition