Starting a business is not an easy thing. However, running a business is harder. Recently, many young people have been starting their own business instead of working under somebody else. These entrepreneurs, who are enthusiastic to put their ideas into reality, usually miss to avoid some mistakes while starting up. Since we would not want entrepreneurs to deprive us of their cool ideas, we listed 5 common mistakes that many could do or have done in the beginning phase of their business.
Here we go:
Nobody has to carry the whole burden in their shoulders alone. When it has not to be like this in life, why has to be in business? Why not having a right partner who will help you in putting your ideas into reality, who would share the pressure that you have, who most importantly will have the same gut as you and will do everything to run it and make it successful.
Hiring wrong people
This is probably one of the most common mistakes ever among entrepreneurs. This happens mostly because they are dealing with everything alone and they need immediately someone to help them and have no time to search for the right people. However, let’s do not forget that having wrong people around you is worse than having no one. Wrong people not only might direct your business into a wrong way but also can influence you badly and eventually make you feel strayed and frustrated.
Speaking of frustration, this mostly depends on the person’s character. While some entrepreneurs can easily get frustrated when they see something’s going wrong, others can stay calm and try to fix it as soon as possible. There is no business where you cannot find any mistake or sometimes it is possible to even experience a failure. I would not repeat a cliche that everybody must have heard once in their life. However, I have to because it is indeed like that. We learn from our mistakes which would make us stronger and not let us repeat them again. Also, I cannot skip pointing here to the first mistake above. The right partner will probably be there for you to get you out of frustration.
Let’s be honest here. Everybody wants to be successful in one day and have the ‘boom’ effect on world. But things do not work like that especially when you have a startup. Impatience will just lead you to have wrong decisions, to act without doing plans which are the heart of a startup as you will have to make always plans like business plan, financial plan, marketing plan and so on. Also, do not forget: The one who becomes successful in one day is the one who probably will fail in one day.
Ignoring market and customer
“Do not find customers for your products, find products for your customers” Seth Godin
Entrepreneurs are people who are super excited about their ideas and would like immediately put them into action - sometimes - without searching the market or customer needs. Nobody could blame them for their gut and excitement. Nevertheless, anybody could give some advice. You should always remember to do a market research and see if it is really what your customer group needs. So, just remind yourself to be open, flexible to change or modify your ideas according to market and your target group. You may start with the idea of A, but you may need to continue with the idea of B. Embrace the change. After all, it is a journey where probably nothing will go the way you planned in the first step.