[brownbob06]

Originally Posted by Ahern & Brucker

exactly, that's why i decided to post my reply... better they learn the truth don't you think?

huh? I'm not sure I understand what you're saying. There's always a reason for the failure of a business, and it is always the owners fault. These aren't excuses for failures, just explanations of why businesses fail.

It's not an "Excuse" to say "My business failed because I did not have enough money to start up with," so much as it is taking fault for what happened.

Understand what I'm saying? haha

[invertabritt08]

Lack of ambition/motivation, a poor business plan and failing to network are just a few at the top of my list.

[Warranties-For-Less]

Good advice,

Having started a dozen businesses over the past couple decades, the one that motivated me was vision. If you cannot have a vision of where you want to be in ten years, twenty, or however many, then you will not succeed. This comes along with a basic business plan, but in that plan, don't just think now, but think as far down the road as possible.

The biggest mistake people make is not looking far enough ahead in your market. So many businesses are losing ground to new technologies as example, so think ahead on how to better utilize these new technologies. With the current recession, how many planned for it? Every business will go through cycles of growth and market demize, just as we are all now seeing, so again, think ahead, have vision beyond today is one of the keys to success.

Good luck to all, Mike

[sneaker_head23]

In my personal experiences, I didnt look enough into the current market for my idea just see what is already out there, and underestimating the amount of capital needed to start the business.

[Woodcs82]

Growing too fast

[Finandom]

I think it is a big mistake to start a business without really understand the market.

[countrylady]

IMHO, losing momentum and letting the negativity of those around you bring you down and "steal your dream".

[Scunizzo]

Here are the results so far. The top four that made the list are:

1. Not having enough money
2. Trying to do it all alone
3. Not seeking mentors
4. Not having a business plan

Other start-up mistakes that have made the list are:

* Not hiring right away
* Getting to year 1, past year 2
* Not getting involved in the community
* Surrounding yourself with people who don’t believe in your success
* Working in your business instead of on it
* Not thinking survival
* Losing momentum
* Doing it just for the money
* Going wide instead of deep into your niche
* Building sites but not driving traffic to them
* Not using email marketing
* Expecting that customers will come to you
* Over enthusiasm and unrealistic goals
* Failure to carry out your plan

What makes your list of top start-up mistakes? Are we on the right track with our list so far?

Please contribute so we can build the best list possible and help out other Young Entrepreneurs!

[andeegee]

nice advice

[latinolive]

As an attorney, a great reference I have found is a company named Innoventum, Inc. This company, started by attorneys has a tool kit for businesses, including statitics as to why businesses fail. A client of mine referred me to them. This business looks impressive with the wealth of knowledge they have and free helpful articles.

Carlos

[viccol]

hi...Everyone

[allysa]

I think it is because of lack of planning and focus on what you are doing. Also, people that surrounds you affect your decision, so be wise and careful.

[yz4now]

This has helped me much. :]

[Mark D]

Ignorance is not bliss. Sometimes you need to change with the times, as hard as it is.

[FollowtheDream]

I must admit that there are definitely some useful information on this thread. I am 24 years old, and I just opened my first start-up business a few months back. I am definitely running into a few of these "mistakes" which I am slowly learning to overcome. A few mistakes that I personally made was the lack of focus on a targeted marketing plan, and the miscalculation on future expected growth.

Having a mentor is extremely important since my mentor advised me that creating a successful business will take a lot of time, effort, patience, dedication, and a clear plan and vision.