The opinions of the employees of s You are personal.
What would you prefer to run 24/7 or be a slave from 9 to 6? A s will always prefer the former. But being crazy all the time doesn’t always mean we work smart. In fact, many entrepreneurs often make this mistake. In fact, they make a lot of mistakes without even realizing it. Do you commit yourself? Find out!
Mistake # 1: Solving problems that don’t exist
Solving the wrong problem can derail any company, no matter how smart its founders are. It’s like the comic hat for TVs. Does he solve a problem? May be. Will people buy it? Never.
Many founders start with an “idea”, but should start with a real problem. A solution could create a sustainable business model.
Mistake # 2: grows too fast
If your startup is successful at the beginning, it is normal for it to continue to grow. You may even want to move to a larger business, hire more people, invest more in marketing, etc. But there is a big difference between fast and smart climbing.
If you are growing fast, you may not be able to meet your customers’ needs because you will face costs that you cannot pay. A report showed that steep growth caused 74 percent of startups to fail. Don’t try to force growth. Better strengthen the basics of your company so that you can grow intelligently in the future.
Mistake # 3: Saving on marketing
Although some entrepreneurs make the mistake of wanting to grow too quickly, others believe that growth will come naturally. They assume that customers will discover their business for themselves. We actually always need marketing. Even the best product idea will fail without the right marketing for your advertising.
Marketing differentiates you from your competition. Research to find the best way to speak to your audience and use different marketing methods such as SEO and content marketing. And although you shouldn’t invest everything you have, you can’t afford not to invest in it.
Mistake # 4: Treat your employees as if they were working in a large company
Not only can you hire the right people, you have to treat them well. You have to do it so that you want to stay long term. Studies have shown that fluctuation can cost the company up to twice as much as the employee concerned.
A high fluctuation is a great risk for companies. To avoid this, you need to give your employees the opportunity to grow, be leaders, and have influence.
Mistake # 5: a presentation instead of a prototype
Words are taken from the wind. Many entrepreneurs focus on creating great PowerPoint presentations and business plans that don’t usually pay off. A demo or prototype is much more powerful and doesn’t have to be perfect. It just has to be good enough for investors and customers to understand what you are proposing.
“A great idea is one thing, but implementing it is another,” said John Rampton, investor. “I personally have to see a prototype that works.” s have to prove that people want to pay for their idea and not just agree when listen about you.
Mistake # 6: Too Stingy
Many entrepreneurs burn the wick on both sides: they work too hard and ask too much of themselves. You don’t have to count pennies all the time. Sometimes it can be unexpected to pay for a better chair or software or to give you or your team a day off.
Error 7: Use “No” as the answer
Great entrepreneurs know that a “no” really means “not yet” and they dare to break down walls when others feel blocked. And while bad entrepreneurs take “no” as a sign that it’s time to throw in the towel, big entrepreneurs recognize the value of “no” as feedback.
Getting a “no” from an investor does not mean that you will never be financed, on the contrary, it is a sign that you have to rethink your value proposition. If you get a “no” from a customer, you need to further differentiate your product. Using this feedback to refine and improve your product or service can help you build your path to success.
Mistake # 8: Treat your business plan like the Holy Grail
If your business plan was a book, it would be in the Realistic Fiction section. Could it come true? For sure. But will it happen as you planned? The chances are not good. The worst entrepreneurs use their business plan as a step-by-step card to success, but big entrepreneurs know that these plans are just a safeguard. And they can provide information to make future decisions, but they shouldn’t dictate the future.
You have to learn to be flexible with your business plans. Things will not always go as planned. As already mentioned, you can be rejected by an investor or customer. New technologies can change your industry.
Companies like Blockbuster or Kodak are out of date because they didn’t want to change. Don’t make the same mistakes you made. Throw your pride out the window and keep learning so you can adapt if necessary.
Avoiding these mistakes is not always easy. A bad idea may sound good to you and you might be excited. You may need to change certain habits. But mistakes don’t define you, you can learn from them. Most importantly, you can determine where you made a mistake to avoid making the same mistakes in the future. When you learn to move quickly in an intelligent way, your hard work pays off and you can make your business dreams come true.
Heads up. Keep forging your future. You can.