What are the top start-up business mistakes?

[connor_zen]

Not taking a business class or at the very least reading a lot of material on what you're doing. I think this is especially important for the work-from-home crowd. I am also on a Photography forum and one of the top things they recommend instead of buying new equipment or renting office space when starting a photography business is to take classes or read up on how businesses work.

[fltrader06]

Being so greedy of money?

[thedomainleasingteam]

The biggest mistakes I think are losing momentum and not being as optimistic. Optimism is the KEY to success. But I think people not surrounding themselves with people who believe in them is another issue.

[viaddress]

some of the most common mistakes are:
1. incomplete market study.
2. insufficient money.
3. lack of good work-force.
etc...

[Voi Network]

Wonderful Post,

A few mistakes that I made when I started in an internet business is buying alot of products that sounded too good to be true, and when I downloaded the "get rich quick" programs, they were bogus, very hard to set up, and not very user friendly. I have learned alot over the years, I have decided to go to school for it instead and learn the right way!!!

[jennifer34]

Here I'm sharing With You One Of The Main Mistakes Which We Use To Do is:
We'll Make a Killing In the First Year..."

Focusing on the immediate returns that a business can earn from a new product before direct competitors enter the market can be a mistake if not coupled with a description of how these short-term profits can be used to transform the company into a going concern. Investors are interested in putting their money in companies which have value down the road to either be sold or to keep operating and growing going forward. Lenders, who will generally be more conservative in their outlooks, will be wary of any "get rick quick" claims. They will always prefer a business that shows slow and steady growth, backed up by reasonable projections.

[Jolie Robert]

In my opinion the top start up business mistake is no knowledge of your target market. You should seek first which sector you are targeting and what their need are. After finalizing the product, you should promote your business everywhere on roads, billboard on online portals (dailytrader.com, aidandtrade.com etc) which will help you out in gathering customers.

[Joe Micheal]

In my opinion, some of the mistake are hiring of family relatives, friends and other member of the circle, lack of focus, doing it alone and under-estimating sub-ordinates, concentrate on making money instead of quality service to customers.

[Voi Network]

My favorite is reading through forums and learning tips and stratagies from others. I have learned so much that my brain is spinning, once it stops I will put it to use.....LOL

[steve514]

1. Not taking the time to research
2. Not taking the time to make a plan
3. Not acting fast enough!

[buzzlair]

Forgetting about marketing and expecting customers to come to you.

i agree with this one. my dad business is hurting because he has no idea about marketing and corporate branding. we owned a pretty big ice production company that covers a wide business territory..

after 10 years of operation. the business is losing its momentum. people see business differently nowadays and without a proper way of conveying the message to the customer, we are not improving, but surviving.

ive been thinking of taking over my dad's business but maybe in the next 5 years, hopefully my dad wont become bankrupted.

[sweetfranky]

A big one for me is analysis paralysis. I used to spend way to much time researching and not enough time doing.

[arnoldsmithh]

I wanna add one mistake that entrepreneur makes is posting something related to business in irrelevant places.

[Ryan Heatherson]

I think in this regards there are seven important mistakes which should not be over-looked and must be eradicated as prompt as possible to get the desired results.

Hiring someone just because you know them.

Hiring someone to help them out.

Taking someone on as a partner.

Hiring someone to do a bit of everything.

Top-down hiring vs. bottom-up hiring.

Not knowing what job you want to hire for.

Hiring for the job you hate.

[dan7]

never underestimate the envy of the competition