5 MISTAKES YOU SHOULD AVOID IN YOUR STARTUP BUSINESS
I love you and will be delighted to see your start up business grow from nothing to something. That is why I will be sharing with you the mistakes to avoid if you want your start up to grow fast
- Don’t spend profit before making it: most business owners are guilty of this. They make wrong and unrealistic profit projections on business deals they have not even made. So, they spend the money that has not been made. I was also guilty of this in the past which made me to fail in businesses I operated in the past. If you become discipline and don’t spend profit that have not been made, surely, your business will grow
- Don’t over promise what you will not offer: as a startup, you are still in the learning and development stage. Never over promise what have you known you do not have the capacity to deliver. If you over promise and fail to deliver to expectations, you are jeopardizing the future of your business and the integrity of your brand will be questioned.
- Do not over ran your race: as a startup, you are just coming up, learning to walk in that particular line of business. Just like a baby starts to learn life journey by crawling, you also need to take your steps one at a time. If you run beyond your pace, you will not only fall, but crash totally and may remain crippled for a life time. Therefore, run your race according to the strength of your pace.
- Do not live another person’s dream: as a startup, you have your own business goals and visions. Set your priorities right and do not allow yourself to be intimidated by another person’s dreams. Be yourself, do not compete with another person’s dreams. You should only compete with your dreams
- Do not be sentimental: sentiments of any such is a fast killer syndrome in business. If you allow sentiments to run your business decisions, then, you are preparing the grave of such business all by yourself. The sentiments can occur in different forms. A good example is allowing unruly behaviours from friends and relatives.
An entrepreneur must stand firm in decision making always.
If you find this valuable or need help in starting a business, please, let me know by dropping a message in the comment section and be sure to share this article with others.