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