What are the Things to Avoid When Starting a Business?

[Suba]

Starting a business is the first step to entering a new challenge, many novice businessmen forget important things that should be avoided, such as:
-Choosing a business that is not mastered or only based on suggestions from family and friends.
- Choosing the wrong co-workers or partners.
- Doing all business activities alone
- Mixing business money with personal money etc.

 

[Springtime]

Always start small, do not expand too quickly until your business is making money.

 

[eLdavis]

There are several things to avoid when starting a business, and one of them includes selling or rendering your business in credit.

 

[Nomad]

It is impossible to succeed on your own, therefore you will have to build a team and your team must be very good for your business to succeed.

 

[King Belieal]

So many of us think that we would thrive better with solo businesses. But that is not really the best way, we should learn to collaborate in business.

 

[Kross]

Make sure that you avoid bloated projections as you want to set up your business. Be sure to stay realistic.

 

[Augusta]

Failing to understand your industry. Succumbing to imposter syndrome. Saying 'yes' when you're stretched for time

 

[magnus2022]

The most important thing is to avoid selling your goods or products on credit. Even if it is your best friend, don't sell on credit. Many business crumble because of selling on credit.

 

[Starmix]

It took me one year before I finalize my plan to operate a business. It's crucial to jump at a conclusion that because you have a capital, you can do business as you wish. I did a thorough research if selling milk tea is feasible, if it gives me profit and if the franchisor has a good reputation. I didn't start right away it's only after one year of a thorough study. Money is not a stone.

 

[Fidelia]

I always feel the number one thing to avoid is those people that always tell you how difficult that business is. They would share their bad experiences or other's bad experiences to discourage you.

 

[Fire&Rain]

I would add that rushing without proper research or ignoring customers needs can also hurt new businesses. Its smart to plan well, pick trustworthy partners and keep business finances separate.

 

[Fidelia]

I would add that rushing without proper research or ignoring customers needs can also hurt new businesses. Its smart to plan well, pick trustworthy partners and keep business finances separate.

Starting a business is never a competition that people should rush. It is better to take time and start late than rush and crash.