5 biggest mistakes entrepreneurs make

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Richard Dean

Digital Evangelist and Startup Consultant at We Are Nova

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Updated 09 November 17

Making mistakes and learning from them quickly is a big part of starting a business.

 

But if you can avoid some of the common slip ups, why wouldn’t you?

 

Here’s 5 things you should definitely avoid doing.

 

1. Doing something you’re not passionate about

There’s no denying it, running a startup is hard work. There will be days when things are a bit crap and you start to lose motivation.

 

So, being passionate about your product is so important to keep you going. If you’re not that bothered about what you’re doing, chances are no one else will be either.

 

2. Not being adaptable

We guarantee that you will learn lots of new things along the way. And what you learn, will probably mean your product will have to change direction in some way.

 

Don’t be stubborn and refuse because it’s not the exact same idea you started with. Your idea will only evolve to be better from what you learn.

 

3. Not exploring your competitors

Unless you’ve invented something completely unique (by the way, chances are you haven’t), you will have direct competitors.

 

So, don’t pretend they don’t exist. Figure out what sets you apart and what gives you an edge.

 

Go on, be better.

 

4. Neglecting marketing

“Great marketing won’t save a shitty product, but with shitty marketing, even a great product doesn’t stand a chance”.

 

So many people think that if you’ve built a great product, the customers will come flooding. That’s not how it works.

 

You need to invest in your marketing.

 

Things like SEO, content marketing and paid advertising are all crucial in reaching your customers.

 

5. Expecting immediate success

If you think you’ll become the next Mark Zuckerberg overnight, please don’t.

 

Being passionate is important, but having unrealistic expectations is something else. It takes a long time to start a business let alone to start making money from it.

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