The Most Common Startup Mistakes
The vision of a new product, the conviction that the idea is good, awareness of the success, and, most important: the possibility of earning big money – are just some of the factors that lead people to make new products.
Oftentimes great ambitions are the main reason for the creation of startups, which from the beginning are doomed to failure.
Many creators made a lot of startup mistakes from unawareness or inadequate preparation of project assumptions, which often determine “be or not to be” of whole startup.
Popular startup mistakes:
1. High expectations.
No real thinking is a very common factor in the imminent failure of a new product. The idea is not all! The idea is only 10 % of success. You give an idea, but you don’t have to handle whole project by yourself. Choose the right team of people who will take care of your product. Leave it in professional hands- they will have done the job faster and more efficiently. You can’t do everything by yourself.
2. Bad project plan.
The basis of good launching is well planned course of entire operation of the project. You must take into account even the smallest details. Even the best business plan will not save us from defeat if assumptions are wrong. Remember that the project should not be too complicated. Even Facebook at the begining was a very simple service with just a few functionalities.
3. Ignorance of the law.
The nascence of startup is accompanied by very dynamic, creative atmosphere, everyone is focused on the idea and its implementation. It is often forgotten about organizing projects from a formal point of view.
Establishing and opening your own company, it is essential to ensure that the most important decisions be documented. You need to hire lawyers.
The best solution will be also saving all the decisions, if you create a startup with multiple partners. To keep constantly the same Founded version and prevent the collapse of the case, when suddenly opinions will be different.
4. Bad planning funds.
If you get a great business idea and you think that now you just reaching for money, you are wrong. It’s really hard to say at the beginning how much money you need really to invest. Therefore, at the beginning, secure a certain amount of personal expenses, marketing and these additional, unforeseen. Otherwise, the project – lack of funds – can end up faster than ever starts to generate any income.
5. Haste makes waste.
If you do everything quickly and without thinking, this is a huge step toward a failure. If you are just before the release your idea to the world, do not jump out with everything at once. Schedule everything and give the time to yourself. Your product will not give you a lot of money at the begining. Be patient and fix the time standby.
6. You are not the only one expert.
If you think that you know everything – that’s a big mistake. Only your experience and knowledge can’t provide future success of your startup. Ask the expert for advice. There are more and more startups appearing in the market. The same as more and more portals of startup knowledge are aroud you. There are many interesting blogs of startups with a lot of expert. Be an active player, take part in many events, follow your colleagues in the industry. Ask questions- stupid questions do not exist.
Startup launching is not only the part of perfect dream, but it is also your great piece of work and effort to make your passion and idea also became a real good running business.
The most important thing in a startup is just a start. Even if your startup at the beginning is not fully developed, launching it to the market is important- it allows you to see what you need to fix and improve.