What are the top start-up business mistakes?

[chrispalko]

Not having a plan = Big Mistake

[DavidSitemanGarland]

A big start-up mistake is not asking for help. Seasoned entrepreneurs and even CEO's can be great resources even if it is a question-a-month in sort of a mini-mentorship. Forming an advisory board of those more experienced than I was (and still am!) was a HUGE aspect people often overlook.

[regan]

Hi Guys,

Thanks for sharing your posts. Actually I am planning to start an online business. I could sum up lot of preventive measures to start up my business after going through your posts.

[Brian Linton]

Choosing something to sell based on its potential to make you money, not choosing something you are passionate about and will love waking up and doing each day

Passion is extremely important for entrepreneurs.

Brian

Read more about this topic here: Nothing to Lose » It’s Something you Should Hear From Your Parents, Not Me – Love, be Passionate and Thankful for What You Do

[ashleyg]

Lack of experience on the part of the business owner is another common reason why a startup might fail. If the business owner has never owned or managed a business in the past, he should do everything in his capacity to learn the ropes of business by maybe enrolling in business courses before actually starting a business. It is also necessary to work with business mentors who can guide him how to run and manage the business successfully. Working with other professionals, such as a business lawyer and accountant are also a big help. The bottom line here is an entrepreneur should analyze where his skills end and learn to seek help from those who are more knowledgeable and skilled in the field.

[forex master]

HI,
Yes thats true, people generally make those mistakes. Indeed those are top start-up business mistakes. Also there are lots of other aspects are should be taken in consideration as to refrain ourselves from those mistakes.

[debbras]

There is many great aspects covered here - one in particular that many people miss is this:
knowing that there actually IS a market for what you want to do or sell.

I'm a firm believer in a plan, both business and marketing- (written down, not just in the head). Passion is a key component because it will drive you and keep your momentum going. However, you could have the best plan, the best product, the most passion and support- but if there is not an interest from buyers for your product or service- who will you sell to?

Understanding and identifying your niche or even better yet, micro-niche, is very important. Research before you launch to be sure there's even an opportunity to sell. If you don't do this and launch purely on passion and optimistic vision, you may run out of steam, funding and support. You may have to reinvent as you go- and that can be costly.

I work with businesses all the time assisting them in this area. It is a big deal. If I can be of any support to you, feel free to reach out to me.

[SmarterGroup]

Lack of knowledge is the main failure. Do your research thoroughly.

Other than that, some common sense and business awareness will go a long way.

[naijapreneur]

Fear of failure
Ignorance of target market
Lack of good record keeping

[beheron]

Not taking time to learn from failure... often what leads you in the right direction is failure. dont quit!

also start-up businesses need to know when to call it quits before you start. dont ask yourself can i spend another xxx,xxx$s.. you should already know that number up front.

[alexander.m]

Be carefull about what partner you choose, if he is a good friend of yours he you might figh with him from diffrent stupid things. If he is a person that you don`t know very well he might get out of the business and leave you with debts.

If you take a loan be carefull about the intrest

[collinmckinney]

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[rejoice]

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[mlmpro]

lack of massive action

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