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Common Startup Mistakes

Discussion in 'Starting Your Business' started by djbaxter, May 15, 2017.

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  1. djbaxter

    djbaxter Administrator Moderator Member

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    7 Startup Mistakes That Will Doom Your Small Business
    by Mike Kappel, AllBusiness.com
    May 10, 2017


    Read more...
     
  2. Stephen Vienna

    Stephen Vienna Member

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    Definitely resonate with #5. First to market and 90% done is far better than never to market and 100% perfect.
     
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  3. jaydenwilliam

    jaydenwilliam Member

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    Thank you for sharing such a knowledgeable information. It is very helpful for all the business owners and who have just started their business. These are common startup mistakes which may occur by everyone so this post help to keep these things in mind.
     
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  4. Julia Sta Romana

    Julia Sta Romana Member

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    I've seen so many business trip over #3. It's important to list down every expense. List down EVERYTHING. Make sure you have enough money to cover your business costs and have a little extra. And when forecasting your income, hope for the best but always expect the worst. You're NOT going to have a great sales day everyday.
     
    djbaxter likes this.
  5. Thank you DJBaxter for your experience and awesome tips. They are really useful and it is always better to learn on somebody's mistakes than to do your own.
     
    djbaxter likes this.
  6. Great list. I would add not researching your local market. I have worked with many startups that have all struggled by entering over-saturated markets, especially locally. Knowing if your business idea is feasible given the surrounding climate is vital. Also working a niche is so often undervalued.
     
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  7. SnegyK

    SnegyK Member

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    I relate to these mistakes and I wonder - when do you decide to "hire" a resource to help you with the financial expectations? Before you start your business money are tight, so neglecting yourself and not asking for help are very related to that state. Would you suggest good timing and how do you present your idea to an accountant without giving in your entire business plan? Thanks in advance!
     

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