Starting Up

Entrepreneurial Mistakes: Recognize and Avoid them!

Entrepreneurship brings excitement especially in the beginning. You set off to do what you have always wanted to do and that is highly satisfying. However, new entrepreneurs sometimes get carried away and end up making mistakes. Some mistakes are okay but other mistakes are simply not acceptable.

Of course many entrepreneurs who are famous today made mistakes when they started off but you making the same mistakes is stupid. You should learn from their mistakes so that you start off positively. Here are some of the most common entrepreneurial mistakes:

Relying too Much on your Gut Feeling

Your idea might be really good but you should work on validating it first. You should test the idea and see if it works before you set off to put it into practice. It’d be ideal to talk to experts, too, so that you get a professional insight and know if you are going wrong. Testing and correcting it beforehand is much better than investing your money and then failing miserably.

Slow Marketing

Don’t spend too long coming up with the perfect ‘idea’ to market your product. Identify which of your offerings are most valuable and make sure you release them quickly. Don’t be hasty but don’t be too slow either. When you start marketing and get feedback, you will be able to improve your products automatically.

The Advice Conundrum

There are people who take each and every advice that comes their way too seriously and there are people who don’t take advice at all. These are two extremes and both of them are bad. In order to avoid the extremes, you should basically surround yourself with those you can trust.

Experienced entrepreneurs will give you good advice. The overall business strategy will depend solely on you but you can always take advice for different sections of your business.

Not Paying Attention to the Customer

Despite reading about it and researching about it and being advised about it, there are plenty of new entrepreneurs who don’t really care about their customers. Even worse, they don’t even think about them! If you make the same mistake, your business will not move an inch in the right direction. Customers should be your priorities right from the word go.

Hiring Mistakes

New entrepreneurs are very excited about hiring but more often than not, they go wrong with the hiring process. You should understand here that just having great ideas would not help you. You need to have a great team to help you give shape to that idea. You should put in a lot of thought and care into the hiring process to build the best team. Know your requirements and choose specifically.

These mistakes have led to the downfall of many a business. Don’t let your business meet the same fate.

Entrepreneurial Learning

To avoid stumbling upon too many hindrances and making your own path difficult, you should know of the common mistakes in the entrepreneurial world so that you avoid them. These include lethargy, haste, wrong priorities, and wrong hiring.

Leave a Comment

Your email address will not be published.

You may also like

Growing a Business

Want Great Guidance ? Find yourself a Super Mentor


They are the gods of small businesses, those inspired individuals who have achieved the highest levels of success. They can be the shining beacons who light up the path of running your business with their vision, wisdom and wealth of resources and contacts. They are The Mentors.

If you are fired with the passion to take your business to great heights, the best thing to do is find yourself a super mentor. Here are some tips to help in your quest

Pinpoint your Need

Sit down and focus your thoughts on your business growth strategy. Which area of the business needs a lift. Is is staffing, is it the finances, is it the production, is it the your lack of customers or is it the business as a whole that needs a makeover. Once you’ve zoomed in on the sore spot, this is where you need…

Read More
Growing a Business

Dreaming Big? You can Move Mountains with these Business Productivty Tips


You may be full of admiration for some people who seem to manage themselves and their work so usefully and efficiently. They seem to fit in so much productive work into the same number of hours which everyone has.. Let’s look what makes them tick and take a few tips.

Learn to identify your most productive hours

Its true, most productive people know which time of the day they can be most creative and efficient. They identify and allot these hours for the best part of their work. This way they are able to give their 100% awareness to the job and business productivity.

Early to rise- A winning habit

Waking up early is a personal habit that has all the plusses on its side. You need not necessarily go to work that early. It’s a habit that gives you more time for personal care, like mediation, exercise, walking,…

Read More
Growing a Business

Leadership Qualities that can make you an Icon


You may have reached the leadership position through sheer dedication to performance and a do or die attitude . Now that you are at the top, your viewpoint needs to change. You have to now be a role model, one whom others will look up to and follow. Here are some tips that can shape your leadership and management skills

Be Competent: Employees will look up to a leader who has good industry knowledge and management skills. If you do not possess these skills you should surround yourself with knowledgeable people who can offer good counsel. Competence is a trait all employees will admire.

Be Trustworthy: No one will look up to a person they cannot trust. Your employees will want to rely on you and count on you. In difficult situations, leaders are expected to apprise their employees of the situations and find solutions on how to address…

Read More
Raising Money

Are You offering Your Services Using the Right Pricing Strategies?


In these times of fierce competition, business people , mostly those that offer services and belong to the service based industry, are finding it a challenge to implement the right pricing strategies. It is virtually a struggle to set the right business price that will retain and attract the customers, and not drive them away. Follow these tips, the crucial dos and don’t s and you may be in a much better position to offer your services at the best price.

Maintain your Business identity and Dignity

If you are offering a unique or special product or service, don’t underrate it just because you want to build a better relationship with the customer. This will just cheapen your offering as another run of the mill. If its something special you are offering the customer, then communicate this fact to the client and get the equation right with the most…

Read More
Raising Money

What is a Fair Wage? How Do you Assess Fair Wage?


How do you figure out a fair wage?

This is a very common question for startups and small businesses. They can’t seem to decide or understand how to set wages and manage reputations at a time. They are determined to pay well but they also have to think about encouraging their employees to stay with them for a long time. This is why there is a need to think strategically.

Listed below are a few expert tips to help you decide:

Don’t Focus Only on Money

Money should never be the main focus for you or for your employees. You should decide on the wages in such a way that your employees are tied to your business. When your business does well they should be able to taste that success and vice versa.

Also, think about additional perks such as exclusive benefits and time off. Many employees value this more than the overall…

Read More
Raising Money

Tips to Winning Hard Negotiations With Ease


While some negotiations are easy, others are quite hard to win. If you stumble you will lose.

Whether it is a potential client or an investor, negotiations can be very tough and frustrating. The problem is that the moment you let your frustration overwhelm you, you will lose the deal and you will give in to whatever is being offered to you. In order to avoid that, here are tips to overcome tough times and to win even the hard negotiations:


Know your opponent as well as possible. This is the rule no matter what you do. You should understand your opponent to the T. Who the person is, what his culture is, what he thinks, what he stands for, how is his network, etc. are the questions you should ask yourself and answer through research before meeting up for the negotiation. Understanding the opponent will give you a great advantage.


Read More