Mistakes to Avoid in a Startup

Starting a business begins with filling a need and building credibility, but the factors that go into making your startup a smashing success don’t stop there. To enhance your shot at success, try and avoid these mistakes:

1. Not having a plan.

You don’t need to have a formal business plan -- but you still need a plan. People regard the business plan as homework they don’t want to do but planning helps in whatever way success is. You need to know who your customers are, what you are selling and what people are willing to pay for your product or service.

2. Focusing too much on the little stuff.

First, you need to get your business off the ground. Don’t focus on things like how your business cards look or the design of your logo, but concentrate on tasks that will help propel your business to the next level.

3. Don’t worry about money.

Be optimistic this is just not about money, there’s a very good chance that your company will run out of money before it makes any, and you got to run your business, so make sure that you have a plan to try to get more before you run out.

4. Undervaluing what you’re selling.

Whether you’re selling a product or service, set the price at what it needs to be to make a worthwhile profit. The price is what it needs to be, and as your business evolves continue to adjust your price points.

5. Ignoring customer service.

With so many things happening over the Internet, it’s easy to forget that customers are people who are way more likely to market your business if they have a good experience. So make sure you have some way of interacting with the people visiting your site.

5. Ignoring customer service.

With so many things happening over the Internet, it’s easy to forget that customers are people who are way more likely to market your business if they have a good experience. So make sure you have some way of interacting with the people visiting your site

6. Giving away too much and getting nothing in return.

Before you’ve established credibility as a seller or an expert, offering something for free can turn into a conversion and long-term customer, however, the cost of the free product can add up, so offer something useful and intangible, such as a free e-book, recipe, instructions, webinar, guide or checklist.

7. Spreading yourself too thin on social media.

Don’t blow your advertising budget at the start, but test out one or two main social audiences where you know your audience is and can build a customized audience with a small budget.

8. Skimping on early hires.

Entrepreneurs rush the hiring process to quickly fill positions in order to scale their business. So, when hiring look for people who have the skills you don’t and embody the qualities you respect.

9. Underestimating the obsession and drive.

A lot has been said when it comes to the importance of work/life balance, but forget about it for a year or two. Big ideas do not come when you are trying to your time but they come when you are focused on one thing. Let everything else fade to black.

10. Thinking that everything is one size fits all.

A product or strategy which worked for a certain company doesn’t mean it will work for you. Be sceptical about things you read and see succeed.

The success of your business is largely dependent on the way the consumers receive the marketing campaigns created for your business.

Until then my friends, Adios