Most of the Startups fail. Obviously the Lack of Experience is one of the major factor involved. Entrepreneurs are supposed to do Experiments and Make Mistakes. However Winners are those who learn from their mistakes and keep moving ahead. On the other hand, those who gets disappointed and stop their struggle, end up in Loss. Lets discuss the Most Common Blunders of Startups, so that you can avoid repeating them.
All Talking – No Action
Planning is good, but at the end your Actions will define your achievements. So implement your ideas. You can start by introducing Versions. It will not only help you out in Step by Step evaluation but also point out all weaknesses in your Idea. Otherwise if you will directly go for the Final Version, you may risk all your efforts to something useless.
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Borrowing Money at Early Stage
Investment is a must thing for any Business. However try to Utilize the Current Resources first. Then go for outsourcing your Investment. Once you will develop something by your own, all your requirements will be 100% clear and then you can easily ask your friends, relative or even some BANK to give you a Loan. Borrowing money at early stage will simply reduce your effort and it will always keep your mind uncomfortable about installments.
Hiring too Many People
Employees are also resources. The Rule is same as it was for Investment. Try to make something of your current resources, then add next Employees. It will help you in making Exponential Progress.
These are the Most Common Blunders of Startups. So if you will understand these issues and avoid making such mistakes, you will easily make progress towards your Business Success.
If you have any other ideas about Common Blunders of Startups, do Share them with us. You can post comments to add more informative value to this subject. Your Input is Much Appreciated.
Related Article : Are you an Entrepreneur ? – Top Characteristics
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