Steve Jobs once said that what separates successful entrepreneurs from non-successful ones is “pure perseverance”. And that’s right; when starting your own company, perseverance is one of the things you should have. It’s also known that 1 in 4 startups fail. Though getting your work permit and registering your company are things you need to do to get your startup started, there are 6 mistakes you need to avoid in order to become a successful startup. With our advice, you’ll be avoiding these startup mistakes and making profit instead!
1. Not taking your startup seriously
If you want your business to become successful, you need to take it seriously. That means, you need to view yourself and your company as legitimate. Now, that doesn’t mean you should be arrogant and think you have everything figured out. Being an entrepreneur is a learning process. However, you should think about details like company emails: where you answer emails from clients or customers. You should also dedicate enough time to your company and know what you’re talking about.
2. Choosing the wrong team
If you have a team, you’ll need hard-working and reliable teammates or employees to help your company reach success. Don’t choose friends or family over qualification. Of course, if they are qualified and they are an asset to the company, by all means, use them! Though, you don’t want any slow-pokes or people who can't operate a computer…
3. Not taking technology seriously
One of the best things about working at a startup or being a student entrepreneur is that the internet allows you to spread your message around the world! You should aim to create a nice-looking and functional website for yourself, especially if that’s how clients contact you or that is fundamental to your company. Aim to use the right plugins and correct software. Moreover, social media is a really important tool to reach your market and promote yourself. Instagram, Facebook, Twitter, and YouTube are only some of the platforms you should learn more about.
4. Thinking you are above startup mistakes
Learning isn’t only for university. You need to learn before you succeed. Going back to that point about being arrogant, you shouldn’t expect to succeed with only your own experience. Not only will you disappoint yourself but it might hurt your company. It’s a good idea to read and research everything you can about businesses, both successful and failed ones. Learn from others' successes and mistakes so you can know how to avoid your own.
5. Not following the 9 steps
To start your own business, it takes more than the idea (though that’s one of the most important aspects of it). You also need to follow steps to get started, like creating a business plan and choosing an insurance. Besides, that also includes things like picking a business structure. And don’t forget to register for a working permit, be that a self-employment permit or even a Startup Visa.
6. Overestimating or underestimating yourself
If you want your venture to succeed, you need to be prepared to put a lot of work into it. Passion (yes, that over-used word) is important because you need to truly believe in what you are doing and why you are doing it. Even when there are more downs instead of ups, you need to keep up the hard work. Finally, don’t think you know everything but do believe in yourself and your vision! By staying humble and working hard, you’ll be sure to succeed!
Mistakes are normal. Learning from them is even better. With this post, you'll surely be avoiding these common startup mistakes! We'll be reading about your success soon enough...
What are your experiences with startups? Join the conversation by commenting!