12 Common Failures For New Entrepreneur

We read this story from SME Magazine and we thought we share this 12 common failure with you all here.

1. Failure To Spend Enough Time Researching The Idea To See It Viable.
2. Failure To Determine The Business Actually Add Value.
3. Failure To Gain Totally Understanding Of The Business.
4. Failure To Describe The Business Only One sentence.
5. Failure To Conduct Primary Research.
6. Failure To Contact Professional Who Can Help You Get Started
7. Failure To Understand Financial Requirement
8. Failure To Make Marketing A Priority
9. Failure To Understanding Budgeting Marketing Cost
10. Failure To Focus On Business
11. Failure By Over-Marketing
12. Failure To Follow-Up With Clients

One Thing To Add

We think this is pretty solid advise and we being through couple of startup and businesses. And we did make couple of the mistake that is mention there. Well, we only have one thing to add here, that’s choose your business partner carefully! This will make or break the business. We think to get a business partner that have the same mindset, mission and know what it’s take to be success is crucial for new online businesses and startup. It’s not all about compliment the skill sets and resources, but whether we can work as a team to go through new business startup process. That’s definitely count for something.

Success Is On The Way

I guess the 12 Common Failure For New Entrepreneur is more for solo-entrepreneur, but it’s solid advise. If you can avoid this 12 common mistakes or failures, this will definitely increase your success rate:)

Share This

If you enjoyed this post, consider subscribing to our hoobin full feed RSS

or add us into your technorati favor

[Go Back]