Common mistakes committed by Startups
There are very few people who accept this challenge of crossing the internal and external barriers, fight the situations, and shine bright.
Tealfeed Guest Blog
Each one of us at least once in our lives, think about starting their own company. However, certain doubts surface our mind and lead us to drop this decision in no time. There are very few people who accept this challenge of crossing the internal and external barriers, fight the situations, and shine bright. Every successful startup has its own story of falls and grand rises and its own set of challenges faced. If you aspire to become one of such risk-takers, gear yourself up, and clear all the doubts that refrain you from reaching your goal. There are inevitable mistakes made by the aspiring entrepreneurs that need solemn acknowledgement and rectification. Some of the common ones are listed below:
1) LACK OF BASIC GROUND WORK:
When we have an idea to commercialize in a startup, there is a specific class of the society we target for that. However, the idea is likely to lose; if there is no demand for the product/service, we aspire to provide. Thus, most of the startups which fail, lack such basic research of the real-time aspects of the idea they are planning to invest.
2) IMPULSIVE START:
When we think about launching a startup, we should be aware of the fact that this decision is going to add to the economy of the country. It is going to benefit a large class of society and generate employment for skilled labour. The journey is full of ups and downs, praises, and criticisms; each decision taken is going to add to the benefit or prove to be a mishap. Thus, the startups launched in haste or the hour of excitement often fail to fulfil these needs and suffer a knockdown.
3) IMPROPER RECRUITMENT:
A single person can have an idea, but cannot implement it on a large scale. Multitasking or an only person handling it all would decrease the output quality as well as quantity over time. A single startup requires the expertise of different areas of management, advertising, communication skills, technical know-how, etc. When the importance of assigning tasks according to the qualification level is not considered, a Jack of all trades becomes the master of none. It leads to insufficient satisfaction in the output.
4) LOSS OF DETERMINATION:
The trail to success isn’t embedded with diamonds and gold. It is difficult to reach the zenith. There are times when many factors like lack of funds, lack of demand, weak production, rebellious workforce, and inconsistency in output come into the way and prove to be a huge disappointment. To strive and keep calm in such pressure is very important. Many startups gain a quick boost initially, but their work starts deteriorating due to internal problems or sudden loss of interest and dedication.
This path to success demands constant struggle, immense efforts, and humongous sacrifices.
However, as the Amazon founder Jeff Bezos has rightly said, “I knew if I failed, I wouldn’t regret that, but I knew one thing I might regret is not trying.”
Do Visit: http://www.amazon.in
Passion, along with constant trials, errors, and consistent attitude towards problems, surely help one to take the well-informed decisions. Also, if you learn to embrace your mistakes and find a way out from them, you won’t need to search for success; because it will find you!
Tealfeed Guest Blog