Top mistakes to avoid as a newbie in business

[Augusta]

When you are starting a business newly, you need to find out the pitholes you need to avoid so that you wouldn't fail like your predecessors. This is why some people need mentors when they intend to start a business. This is because these are people that can direct you property and let you know the dos and the donts

So what are the mistakes you should avoid as you start or intend to start a business

Avoid the mistake of not having a business plan: This is your guide, you need it for directions

Avoid not keying into the technology for such business: People need to be communicated to with the technology in place at the time. So key in for the business

Avoid setting a price higher than the market value: With this you might just kill the business before it's started.

Having unstable temperament: Business don't need people that snap at the drop of a hat.

Add yours?

 

[Mika]

Don't get into a business unless you understand the business. What does this actually mean? If you want to sell digital products, do not start the business unless you have the proper skills to create digital products and understand the market for digital products. Well, you can hire someone to create digital products for you but this will only increase your operational cost. You also need to understand what kind of products are selling in the market and what are the best marketplaces for selling digital products. Running a business involves a lot of things, you as a business owner should be taking care of a lot of things from manufacturing products or sourcing products, to building a marketing plan and selling the products. If you know how to sell you can sell almost anything, therefore, you need to be a great salesman. Sadly, a lot of newbies are in such a hurry that they don't build marketing skills.

 

[Augusta]

That's the issue with newbie in business impatience is the order of the day and they also want to compete with a business that was started years before they even started thinking about having their business idea. It is always pertinent to look before you leap in a business to avoid getting self info financial disaster.

Having a marketing skill is very important as well because you would need to do massive and strategic promotion to get your products and services out there to get a high turnover. Until you are able to understand how these things work you might just be heading to financial doom in the nearest future.

This is why it is important to have a mentor or mentors that will help you paddle the boat to safety. As a newbie with no experience on the business terrain it isn't advisable to go all out for the business. it wouldn't be a bad idea to take it one leg at a Time.

 

[Rubz]

I dont understand why one would want to start up a business without having a proper understanding of the business or without having a proper business plan. This is the biggest mistakes most people make when going into business. They often believe that business is very easy handle and so they just hurriedly start up a business without a proper knowledge of business and without a business plan.

 

[Augusta]

This is what everyone that wants to start a business should learn. No need dumping money into a thing blindly. You need to know that the same knowledge you need at work that made you study some courses to be effective is also needed when you want to start a business.

Don't just see someone doing a business and succeeding in it and you think you can do same. It might have taken the person years and a lot of mistakes to get there. So you don't have to be in a rush. You would need to take your time and get it right before starting out.

You can take about 6months to study the business and all that it's entails. You know it is not all the time that you need to blend in. There's nothing wrong with you to be outstanding. So study the business and come up with yiyr own unique business.

 

[Carpon]

I think the first step towards avoiding mistakes in a business is understanding the scope of the business. A lot of people rush into starting up a business because they saw I heard someone who was doing the same is getting good money out of it. So instead of taking a pause, and giving their time to seek more knowledge about the business, whether by asking people who have made it and are making it or undertaking lectures about it, they jump into conclusion that such training and knowledge is not required and they jump into that conclusion only to realize when they have started that their assumptions were wrong at a time when it was too late to realize and take necessary or required steps and actions.

Moreso, it is important that when you are going into a business you draw a good business plan. Don't just start a business and taking the bull by the horn. First plan your attack and that begins by having a plan. There are many people who are experts in business planning and they can assist you in doing that in case you do not know what it is or should look like. Thank you.

 

[Augusta]

Yeah every good business need to start with a good business plan. Business plan is like a compass that will be directing you on how you should get your business operated. Having a business plan wouldn't allow you go against all that you had started with already in the business. So business plan is very important.

Another is that you need to be sure of the business you want to start. if you want to start a producing business then it is good to find out the weakness of the other products especially if you competiting with products that have been already in the market. This is where good research and knowledge would be needed. Starting and succeeding in a business is a big deal and it shouldn't be dealt with kids gloves.

You would need to even get a good mentor that you can get the needed support from to help you out with some mistakes.

 

[Sotherefore]

Business management comes with so many things . when you are interested to manage a business you must first of all understand the reason you have established the business So many people are engaging in business without a real understanding of what business is all about and how a business should be managed..

Business plan is very important because it will act as a guide that protect and leads you on how you want your business to be . A business guide contains all the plans and everything you want to achieve in your business at the end..

Some people are naturally hot tempered while others are mild and can handle complex responsibilities . you must first of all know and understand your temperament when thinking of engaging in a business. If you come to find out that you are not really good in customers relationship then you have to hire people that will take that responsibility just to protect your business.

 

[saoussen5765]

@Sotherefore first of all when you establish company idea this is theory when you go to practice you realize that things in reality differs a lot from what was planned when starting up company and you may face a lot of unpredictable problems that might you did not think even about. So self preparation is good but we have to prepare scenario for most of the cases. In addition, we have to do daily meetings to prevent any fault.