Top 12 Mistakes Entrepreneurs Can Make in Startups

Mistakes are part of our everyday life. Some mistakes will not cost us anything but some of them can be more costly and catastrophic.

We must avoid mistakes that can bring catastrophe into our business or life. But, also some mistakes can be good because we can learn from them.

In Oxford, Dictionary Mistake is defined as:

An action or opinion that is foolish or wrong.

However, there is also noted the following:

The words mistake, error, blunder, fault and defect refer to something that has not been done correctly or properly. Mistake is the most general and used in most situations. The error is used when talking about calculations and in a technical or formal contest. Blunder is a stupid or careless and quite a serious mistake because of bad judgment. Fault emphasizes a person’s responsibility for a mistake. And defect is a serious imperfection.

However, mistakes are something that has not been done correctly or properly or something that is done in the wrong way.

The startup level of every business is the most sensitive level of business life and also on the life of an entrepreneur. The startup level is followed by:

• Lack of finances
• Lack of customers
• Lack of time to develop the new business.

Related: Guide to Starting a Senior Living Facility or Assisted Living Facility for Entrepreneurs

Because of that, this level is most crucial to be the level without stupid mistakes that can destroy the business in the early stages. But, most common mistakes that entrepreneurs can make in the startup level and that can be sometimes catastrophic for the business success are the following:

1. The business idea doesn’t solve market problems.
2. Entrepreneurs haven’t made good market research before startup.
3. They want to start and start a business for which they don’t have the required skills.
4. The business that they want to start is not making their life funnier and with fulfillment.
5. They don’t have enough money for the startup of the business.
6. They don’t have patience.
7. Don’t hire employees to help in business growth.
8. Think that they can do alone all business activities.
9. They don’t plan their startups.
10. Don’t build a business that will have customers as an only driving force.
11. Don’t have knowledge about managing.
12. Don’t use mentors.