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10 STARTUP MISTAKES
10 STARTUP MISTAKESNot Including Online Marketing as Part of the Plan: Marketing and Public relations play a very crucial role in presenting a particular product or a service. The marketing ensures that the target customers are bound to try at least for once, the newly launched product or services. Neglecting online marketing in a startup plan can be a non-rectifiable mistake.
Lack of Proper Networking: Proper networking is the key to opportunities. A good network acts as oxygen and water for your start up. This is so because all the best opportunities are shared from person to person through back channels.
10 STARTUP MISTAKES
Do Not Hire the Best Resource Hire the Right Resource: Often people make the mistake of hiring the costliest resource. A newly started venture cannot bear the burden of high costs. It should be borne in mind that the key to the success of the startup is not the best resource but the right resource.
10 STARTUP MISTAKES
An Inimitable Website – Your Firm Visiting Card: A website is nothing less than a virtual address of your start up. It is the first impression on the people’s memory about your venture. Any lacunae in the website in terms of missing information or incorrect design can lead to failure.
10 STARTUP MISTAKES
Wrong Investor/Co-founders: All the co-founders should have some or the other kind of expertise and should be willing to dedicate their time in making the venture a success.
10 STARTUP MISTAKES
No Idea of Target Market: Before launching any startup it is important to have a detailed idea of your target market and their preferences. Lack of such idea will lead to non-catering of their needs and eventually a failure.
10 STARTUP MISTAKES
Improper Funds Management: Raising too less of money and spending too much creates cash crunch especially in cases of a startup and hence reduces the liquidity and finally lead to failure in the long run.
10 STARTUP MISTAKES
Launching Early Premature Stage: Launching the startup at pre-mature stage, without having its complete understanding can be fatal.
10 STARTUP MISTAKES
No Idea of Competitors Competition can kill the business is rightly said. A very important mantra for success is to have complete idea about the competition and to have a counter strategy to beat them.
10 STARTUP MISTAKES
Flexibility: Business operates in a dynamic environment hence being flexible and having back up plans in order to meet the dynamics is of utmost importance.
10 STARTUP MISTAKES
