Typical Startup Mistakes
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If everything is so simple, why doesn’t every second person run their own business? Why is everyone not so popular? The problem is that startups and businesses are different concepts. You can come up with an amazing idea, but it will take a long and hard work to start generating income. Experienced representatives of the venture capital world identify 7 mistakes that hinder aspiring businessmen literally at every step.
Mistake # 1. RELEVANCE
No matter what area you decide to work in, the main thing is that your idea is in demand here and now. Most inspiring startups put a lot of effort into implementing an idea that does not correspond to reality. They come up with their own model of the world and begin to develop it. Instead of finding out what people want and giving them the product they need, startups try to impose their idea, and this is doomed to failure. If you want to build a successful business, check the relevance of the chosen idea.
Mistake # 2. TARGET AUDIENCE
It is difficult to say whether Bill Gates and Mark Zuckerberg dreamed of their projects reaching such proportions. But at the very beginning, both billionaires had a specific goal with a well-defined circle of users. It is not possible to create a project for everyone. If you are lucky 20bet.com/fi, your idea will grow into something larger, but this will require additional investments, development, etc.
Mistake # 3. BUSINESS PLAN
Coming up with a good startup idea for a business is just the beginning. The lion’s share of success depends on a quality business plan. Statements like: “Why count, I know that this product/service is in demand and things will go uphill” or “I don’t want to count anything, I want to act faster. Anyway, nothing can be calculated in advance, ”they say that the startup is not ready for serious business.
Mistake # 4. PATIENCE
Beginning businessmen often do not have enough patience. Be prepared for the fact that any project will not shower you with millions from the very first day. Depending on the industry and the type of idea, business development can take several months. Do not immediately be disappointed and give up what you started. Almost 50% of really worthwhile projects do not get development due to lack of patience.
Mistake # 5. “I LOVE IT”
If you are going to become a successful businessman, know how to separate work from hobbies. Starting a business with a start-up idea for cross-stitching or sewing out wooden airplanes, you need to remember that now you are doing it for the money. From now on, you are doing your favorite thing on the stream. The main task is to please the client and make money.
Mistake # 6.”EVERYTHING WILL HAPPEN”
Laziness did not help a person in any business. If you have started your own business, then you need to remember that now nothing will work out by itself. There is no more “uncle” who will pay your salary at the end of the month. If you want to make money, you have to work hard and hard.
Mistake # 7. “I KNOW EVERYTHING SO”
The modern world is developing rapidly. What was considered relevant yesterday is now outdated forever. To be successful, you will have to keep your finger on the pulse all the time, find out the latest news, follow the updates, look for useful and interesting information. This is the only way you can attract new customers and retain the attention of old ones.
