Mistakes To Avoid When You Are Starting A Business

    By Smart Emmanuel

    Many early entrepreneurs have the same issues with others. Prominent among the problems is being sure of their actions. Not being sure leads to making decisions and feeling absolutely clueless about them. Regardless of the industry and business type, many go through similar problems.

    The following are the mistakes that every business owner or intending entrepreneur must avoid like disease

    1 Not asking for customers’ feedback

    You must know what customers think about your offerings. The funniest thing is that they won’t let you know if you don’t ask them. Some of them will either manage your bad/poor service till they find better alternatives or disappear without you knowing anything about why they did that. You have to kill your ego and be willing to admit your wrongs and change because your brand is for your customers and not for you, therefore, you must listen to them if you want to remain in business.

    2 Hiring Staff base on credentials

    Many start-ups, due to over excitement and the zeal to put things in motion hires applicants based on their paper qualifications rather than experience. Please avoid this mistake and look for what they have done before and hire them at that level. Try to see if the intending staff is fit with your organisation’s vision, culture and mission. Also ensure that the person is ready to stay with your organisation for a long time and not someone who is just looking for somewhere to earn quick cash and disappear.

    3 Seeing Failure as Failure and not as road to success

    A lot of companies have a great products and team but fail to execute. Often, this is caused by fear of failure. A true entrepreneur is not one who knows all the answers, instead they are the ones who learn on their way up. You should never try to rush a decision but there are times when you just need to go with your gut. When it’s one of those times, make the decision, live with the consequences and move on.

    4 Prioritising SELLING over VALUE : It is tempting for an entrepreneur to focus more on the numbers than value . It is the value you add that brings the numbers. It is good to know that you can be a smooth talker and land clients, but the recipe for disaster is when you cannot validate your business model. Many start-ups fail despite all the capital they have raised because they fail to prove their business model before trying to scale. Note, success lies in the value you provide.

     

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