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INTRO What are those most common mistakes first time entrepreneurs make?

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Shahnaz Afrin

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Oct 14, 2020
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Start up is not a easy thing for all .It will be mess-up easily if you take any single miss step.
Do not pretend you know everything. when you need to know or need some support or help from others then ask without hesitation .But need to make sure that person must be qualified, experienced and have knowledge.
Do not giving away control for capital. Sometimes newly entrepreneurs give away all the control over their capital to other people. So many business were messed up. When they get any investor their business.If any businessman do not have any traction.then it will be harder for you in order to get investor.Infact several research show that many start up founders kicked out of their own organization because investor got 50% share.
Do not wait for so long.For rebuts engineering culture,many people feel hard to ask for money from their supporters.They prefer to spend a lot of their precious time on the products or services.put off actually selling the product in the market.this type attitude leads to wasted time and money on features are not even needed after all.The solution for curbing this situation is to engage your loyal customers immediately way before you launch your business in the race in order to get feed back, you will be able to save months or years and potentially millions of dollars in venture capital.
Never ever hire your friend .Selecting someone as partner is huge responsibility . When they do not perform well you can not even fire them. We should recruit that person who can meet your expectations and business from begining.No hard feeling if you have to fire them.
Never think your plans are perfect . Most people start believing that it is on lap around the track and it is finish line.
But with perfect product and extra ordinary plan. They indulge themselves in indulge themselves in finding a significant amount of funding.
They soon find out it is multi-lap race ,plans are not go with those. Their funding does not go with longer race.
Before spending all of your money ,your hard work , you need to get some feedback from users and then invest into it.
We have to do do proper research work ,stay consistent align with the right people,have to provide more value than customer expect.
 

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alexkuzmov

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The-J

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Here's one mistake they make. Coming onto forums, not bothering to get to know us, and posting their spam!

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