Career

5 Startup Blunders That Will Kill Your Business

From my own business experience, I know how easy it is to make startup blunders and also how tough it can be to build up a business, nobody to discuss the details with or anybody to ask specific advice from.

It can be outright scary, very lonely and after some period of work with the business, it can get the better of you – so much that you might start to doubt yourself.

If you are there, have been there, or absolutely don’t want to get there you’ll be advised to read very carefully these costly 5 Startup Blunders that so many business owners asking for advice have made.

Blunder One: Lack of Clarity About Your Business

Well, you are suddenly alone and do not make enough money for the lifestyle you want and have an idea you think is good.

That is a reason to consider starting a business by yourself, but it certainly is not clear.

Clarity is when you at least can answer in detail the following three questions:

1) Why do you have this business?

2) What exactly is it you and your business do?

3) How are you specifically helping your clients?

Blunder Two: Lack Of a Reality Check On Your Idea

Surprise, it is not enough that you and maybe your best friends just “love” your idea.

Even if you are excited, passionate, and has expertise in what you do it is not certain that anybody wants to buy what you have to offer.

Did your most positive friends buy what you offer or did they just give lip service?

You need to test, test, and test to find out if your offer is sellable to a market that income-wise can justify your efforts.

Blunder Three: Lack Of Clarity And Overview On The Money

Amazingly many startup business owners are unable to answer the following questions:

1) What does it cost to run the business, basic costs with no sales?

2) What does it take in sales to cover the costs, pay yourself, and get enough income to reinvest and grow your business?

3) How much is more business going to cost you in outsourcing/delegating work?

Blunder Four: Do You Really Think You Can Do Everything Yourself?

A muddled vision is a serious startup blunder showing up if you answer yes to this question.

My advice is to write down all your answers to the questions I have given you here and then detail, detail, and specify every point.

You must know your own strong sides and use them, recognize your weak sides and find others who can do the work, -like Odesk that I use for technical stuff- to help you out.

Never, ever believe that you can be successful doing everything yourself.

Blunder Five: Lack Of Sticking To Your Business

Try to answer these questions:

1) Do you deviate your road to success by also jumping for other bright ideas on the way?

2) Do you ever finish a project totally?

3) Do you give up close to the finish line because complications require that you make decisions that can be “uncomfortable”?

I hope this will give your business a boost of clarification and help with your startup.

About the author

Don Adriano

Founder & CEO of Freelionaire
Life Coach, Entrepreneur, Investor, Author, Speaker and Mentor

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