Top 15 Mistakes Startups Should Avoid

These ideas run the gamut from underestimating the financial requirements of your start-up to spending too much time on product development — and not enough on sales.  Of all the start-up mistakes, perhaps the most critical involve your business plan, your hiring process, and the building of your core team.

1. Skimping on -OR- Over-thinking your business plan.
2. Trying to do a start-up alone -OR- Having too many co-founders.
3. Trying to force a business that isn’t working -OR- Failing to spend enough time researching the business idea.
4. Lacking focus and identity.
5. Being rigid about your idea -OR- lacking an exit strategy.
6. Underestimating financial requirements and timing.
7. Not asking for help.
8. Spending too much time on product development and not enough on sales.
9. Failing to recognize the gap between sales and profit.
10. Settling for “good enough” instead of pushing towards “ideal”.
11. Seeking confirmation of your actions rather than seeking the truth.
12. Entering a market with no distribution partner.
13. Trusting experts, rather than your gut.
14. Hiring for convenience rather than skill requirements.
15. Not maintaining relationships.