Common Startup Mistakes

 

Most small businesses fail. For some, it takes longer than others; but within 5 years, more than half of small businesses shut their doors. If you want to have a successful startup, you need to avoid the mistakes pointed out in the Inc.com blog last week:

  1. Not making an effective business plan. Business plans aren’t just for getting loans. They’re an important part of creating a roadmap for success.
  2. Not doing enough marketing. You’ve got to get the word out.
  3. Thinking too small. Be willing and ready to dream big.
  4. Being inflexible. You need to be willing to make adjustments in order to succeed.
  5. Assuming your passion will spread to employees or customers.
  6. Ignoring strong criticism. Listen to those dissenting voices, and heed their warnings.
  7. Spending all of your money. If you bankrupt your personal savings, you’re going to have a heck of a time recovering.
Bernard Roesch About Bernard Roesch

Bernard Roesch is co-founder and Managing Partner of Mission Consulting. Bernard’s background in the early years of his career was spent in the manufacturing sector, making his QuickBooks perspective a unique one – he understands the intricacies of a complex environment and then applies his strategic skills accordingly.