6 start-up mistakes to be avoided for Entrepreneurs

Prepared By;

Rathod Abhik

(13MMF0001)

Who is entrepreneur? What is

Entrepreneurship? Who can become an

Entrepreneur?

Questions To be Answered Have you done sufficient research? Should you approach a venture capitalist or a bank to fund

your business? How much time you give to your business to start churning

profits? Is it a time to start a business or wait till you gain the required

experience?

6 start-up mistakes Not doing adequate research Moving ahead on flawed assumption Scaling up too early Not keeping tabs on expenses Underestimating manpower needs Not maintaining a financial buffer

Not doing adequate research Sufficient market research Through research Ignoring Results

LootStreet.com( Arun Balakrishnan )

Moving ahead on flawed assumptions

Bugs of market research Incorrect estimates of market Expenses Putting too much pressure on employees

Taggle.com ( Rutvik Doshi ) Koolkart.com ( Suneil Chawla )

Scaling up too early Early Growth Limited Experience Scaled up without fixing a problem Inadequate funding

Not keeping tabs on expenses

Unnecessary expense Try to be frugal Keep the overhead cost low

Underestimating manpower need

Lack of manpower Wasting time on someone’s strategy

Not maintaining a financial buffer

Hesitation to start up a venture Short gestation period of business venture Lack of contingency fund

The 6 Traits of successful entrepreneurs

Be agile Know your audience, and be unique Be a risk-taker Commit to a business model Follow your gut instinct Build an accessible network of experts