Business Mistakes Commonly Used by EntrepreneursNovember 30, 2018
Beginner entrepreneurs, of course, still don’t really understand the ins and outs of the business world. Currently, there are new startups that are popping up every day. Some of them even managed to attract attention. In fact, based on a study conducted by Shikhar Ghosh, Senior Lecturer at Harvard Business School found that more than 2000 startup businesses included in this study, nearly 75% ended in failure.
With an increasing number, you as a business entrepreneur can have the possibility that your startup will end next. If you don’t want to end up failing, avoid some of these big mistakes that are often done by a startup.
– Doing too many things at the same time
The startup is like a newborn baby – you need to feed it, change it and handle the mood every day. Although most new mothers can depend on their father to take care of this baby, there are still many startup founders who try to be mothers, fathers, grandmothers, and grandfathers at the same time.
With the number of tasks needed in the business, delegation is important to you. Keep control of most aspects of your business, but stop tired of taking care of small things. Bring a partner, team or even agency outsourced to ensure that you are not burdened alone in running a business.
– Not focused on marketing
We all know that entrepreneurs who are passionate about their own products believe that their amazing product will sell by itself, based on their mere opinions.
Business startups face fundamental challenges in making difficult choices. Should you use limited resources to focus on building great products and believe that people will come by themselves or should you spend money to build good products and do marketing for customers to come to you? If your product is second to none, maybe you can have the first choice. While ordinary people have to do various ways to attract customer attention.