7 Mistakes Every Start-up’s Founder Makes

Being a start-up’s founder is burdensome. To find a start-up is like a challenge, yet a rewarding experience. With the tremendous increase in competition, new start-ups are coming into the platform every single day. Every start-up has the birthright to make mistakes. Some make many, some make less. Here’s how to avoid taking your start-up through the path of disaster.

1. 1. CONSIDERING YOUR STARTUP TO BE A SIDE-PROJECT

      If you want to leave your full-time paying job and start a business immediately, you are taking a lot of risk. This shouldn’t be done at any age. One needs emotional and financial support and of course, the utmost dedication to begin a business. If you are not ready to invest in your business, why would investors take interest in your start-up? It is better to start a business only after money has been saved, a plan has been made and resources have been taken care of.

   2. COUNTING YOUR EGGS BEFORE THEY HATCH
      

      Anybody who has shown interest in your business and has promised to invest in it, but hasn’t yet dropped a cheque at your house shouldn’t be considered an investor. Similarly, if a potential customer says that he may pay if your product performs the job that he wants it to do, doesn’t mean the money is yours already. Never count your eggs before they hatch.

   3. DON’T PUT ALL YOUR EGGS IN ONE BASKET

      Never ever invest all of your money into one project, because nobody can predict the future. No matter how sure you are that you are taking the correct road, don’t use all your savings into the same project. The future is uncertain and unpredictable, there are times when the exact opposite happens of what was certain to be.

   4. ALWAYS TAKE CUSTOMER FEEDBACK SERIOUSLY

      Who is the best friend of a start-up? CRITICS!
      Your product may or may not be satisfactory for your customer while it may seem to be the best and the perfect product in the world for you. Always take customer feedback seriously. They might tell you something that will make your product even more appealing to the public. It will give you insights about what you may or may not have considered. So, every type of feedback is like gold for your start-up.

   5. TAKING NETWORKING LIGHTLY

      Start-up founders need to go out, explore and meet new people all the time, even if they don’t feel like it. You should go to start-up meets, listen to what they have in store for you. Go to meetups for entrepreneurs and investors. Investors have way more experience than you and you will always learn something good from them for your start-up. Explore smartup.starup.in for know more about biggest networking events.

   6. PROCRASTINATING THE LAUNCH OF YOUR COMPANY

      If you have a plan, investment and resources, the hands and legs of your start-up have already been structured. If you are procrastinating because you don’t want to know if your product would be a success or a failure, you are forming your own personal resistance. Stop making excuses and putting off to another day, another week, another month or another year and take a chance.

   7. NOT WANTING TO ADAPT TO THE CHANGING ENVIRONMENT

      Take changes seriously. If you neglect the huge benefits available in this digital age, your start-up will fail to realize its objective and goal. The real deal is to make changes according to the environment and adapting to the current innovations of technology.