Are you making these 7 Startup Mistakes?

startup mistakes

There are so many things you need to consider in a startup, it’s easier to get lost in a way. Entrepreneurs need a roadmap that not only helps they identify the metrics for success but also warns them about potential dangers that can surely derail their startup.

So what are the biggest mistakes that entrepreneurs should avoid? If you’re about to start your own business or already running a business make sure you avoid these key startup mistakes.

Not Paying for Expertise

You can’t be good at everything.  You need to hire people to perform specific functions like bookkeeping, marketing, designing etc.

So you need to invest when it really matters, don’t consider a hiring as a cost but as an investment that will drive revenue for your business.

Find an expert whose job is to know exactly what you need to know about the specific function of the business.

Ignoring Data

Once you start the business there are various data that you need to analyze and improve the overall efficiency of the business.  Magical thinking can kill any business.  You have to rely on data and do your own analysis. There has to be data that validates your big idea is real or at leads provides a leading indicator that it could be. Once you collect that data, use it to create key performance indicators or milestones to show your business is progressing the way you have expected.

You have to rely on data and do your own analysis. There has to be data that validates your big idea is real or at leads provides a leading indicator that it could be. Once you collect that data, use it to create key performance indicators or milestones to show your business is progressing the way you have expected.

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Once you collect that data, use it to create key performance indicators or milestones to show your business is progressing the way you have expected.

Failing to Delegate

The most common mistakes in management are rather than give up control and trust subordinates to do the routine task.

When you try to do everything yourself you are likely to keep yourself busy in the activity which can be done by your employee.

Most good entrepreneurs are very strategic, so they don’t want to have to worry about whether the fine details are being accomplished.

So what you can do? Delegate your responsibility. Start by drawing up processes, almost like a guidebook for how to do things the way they should be done.

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When you try to do everything yourself you are likely to keep yourself busy in the activity which can be done by your employee.

Most good entrepreneurs are very strategic, so they don’t want to have to worry about whether the fine details are being accomplished.

So what you can do? Delegate your responsibility. Start by drawing up processes, almost like a guidebook for how to do things the way they should be done.

Most good entrepreneurs are very strategic, so they don’t want to have to worry about whether the fine details are being accomplished.  So what you can do? Delegate your responsibility. Start by drawing up processes, almost like a guidebook for how to do things the way they should be done.

So what you can do? Delegate your responsibility. Start by drawing up processes, almost like a guidebook for how to do things the way they should be done.

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Lacking Focus

As a startup, you need to focus on the core area in which you are working. It can be a product, services or a combination of both.

Lack of focus can lead to distributed efforts towards the offering of product or services and you might not see the results that you were expecting.

It is always a good idea to start a business with focused offering and try to get maximum business out of it.

Not doing Market Research

Market research is the most important element in your app development process.

You would likely to have limited amounts of time and resources to put into the development and advertising your mobile app, you want to waste as little as possible.

So why not strive your limited expense to those who most likely to provide better ROI? Research about the target audience, their preference, demographics, age groups.

Determine Target Audience

Your first area of focus should on identifying the target audience.  The identifying target demographic, user profile, their purchase/behavior pattern etc. can help you to determine how to approach the development process and market your offerings.

Conclusion

As an entrepreneur, it is important to make sure that you avoid common startup mistakes. Avoiding these mistakes can help you scale your business very fast.

Do your own research, regardless of what your investor, partner, and others tell you.  Once you have the data, you can turn around & analyze it to make sure you make right kind of effort towards your startup.

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Gaurav Kanabar

Gaurav Kanabar is a Codeigniter Developer at Alphanso Tech, a globally acknowledged IT consulting company providing the services in the arena of the Web & Mobile Development. With the immense support from the adroit team, Alphanso Tech has been serving a huge client base worldwide.

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