beginner mistakes in business

[Mujahid12]

What is the biggest mistake you can make when starting a business?

When I started the business of clothes, my biggest mistake was that I had not gained much experience, due to which I had to face a lot of loss in starting, then I kept an experience with my master my hands got stronger in the buisness.

 

[Adam13]

One of the biggest mistake a beginner can make is lack of proper planning and lack of knowledge of what he is venturing into. Before beginning any business the beginner should be armed with enough info.
A beginner usually thinks he's got it all and the few days of profit may get into his head, making him lose track then the business starts becoming a flop.

 

[Onachukwu]

If I had even just fifty cents for every time someone asked me “Is this a good business idea?” over the years, I’d be a wealthy woman. The problem is unless I write a business plan, I have no idea – and you won’t, either. That’s the main purpose of a business plan. There are other good reasons, too; see 5 Reasons for Writing a Business Plan to learn more

 

[Richard92]

One major mistake that beginners in business normally make is not making research on the kind of business they are going into when you don't make research of the kind of business you want to invest in you end up failure in the business because making research is just like planning and planning is the foundation for every business.

 

[mayreeh38]

Not doing a market survey, giving unnecessary discount when they finally start. Some don't e end resume early to their business places. Others purchase goods without checking their expiring dates. Some are confused about the business because they don't know it well.

 

[Aricha josef]

No plan and focus!..
Don't say because my mates have one business or the other,I must have mine too..It doesn't work that way..
Don't rush into business without a plan,else you will end up missing your way,and when that happens,you will say business is not for you..

 

[Philip Omotayo]

One of the commonest mistakes in business startup is the inability of the business to manage profit and capital of the business. Another thing is the in competency of the business in dealing with the customers appropriately. It is a thing of pains seeing that the business owner don't know how to manage the customers adequately.

 

[Azmatali]

i think thats are bignner mistakes in starting business occur
Mistake #1: Starting a business without an entity. ...

• Mistake #2: Inadequate capitalization. ...
• Mistake #3: Planning only for success. ...
• Mistake #4: Understanding the industry, but not the market. ...
• Mistake #5: Doing it all yourself. ...
• Mistake #6: Working with friends instead of business partners. ...
• Mistake #7: 50/50 partnerships.

 

[Bookwormlux1]

What is the biggest mistake you can make when starting a business?

The mistake some beginners make is that they invest all their money into a business without having any prior knowledge of it. In a situation like this, you have to first invest just small then see if it is profitable before investing your profits.

 

[Ayoknl]

Beginners tend to make mistakes in business which they learn along the line as time goes on, one of the major mistake include paying more attention to the profit margin for those in the commodity business, makes mistake in trying to retain clients and record keeping .

 

[Shivay]

The bighest mistake a businessman makes is that he takes business as a motive of profit earning but they should take it as passion and work very hard for it , When you work it out as a passion then the business gets successful too .

 

[Akinwale701]

What is the biggest mistake you can make when starting a business?

The mistake of not knowing the business does not promise anyone profits or loss, the mistake of not knowing that there is a time to do business and there is a time not to do any business. The mistake of spending money lavishly

 

[Joseph555]

In businesses there must be error and trial but you must not allow the error to persist else you will fail.
You are not expected to win every move of your investment a a beginner in the business.
There's a room for error to occur but it should not be frequent.

 

[Eyiteepraise]

Beginners mistakes in business means the mistakes that beginners usually do in business that actually sometimes make them Lea n from their mistakes.
A beginner can actually do a mistake of over engagjng themselves in over trading in which will surely make it get loss.

 

[iamgroot]

Making an unintentional decision could be the cause of an early collapse of the business. As a beginner, he rushes to think, so what happens is he executes the decision immediately, without considering the impact it will have on his business.

 

[Luckboy]

There are lot of mistake when start a business and what I can recommend is
Not Doing Any Market Research

I see increasing numbers of people starting businesses without bothering to do any of this – and then being heartbroken when their new business, which they’ve invested so much time and money in, collapses.

 

[Mostee501]

In businesses not following the proper procedures may to failure of that business. Some beginners don't seek for much advice,before entering into their respective businesses and such consequences most times,leads to business failures.

 

[Marissa]

The common mistakes that people do when starting a business is following others plan or cloning others people business in the same area, that is the biggest mistake they make which makes the business worthless cos you will want to get more customers to you side and which will lead to competition, overspending and total crash of the business.

 

[Rainlover207]

Another mistake beginners make is starting a business because they saw their friends doing it without doing a market survey. Some start a business thinking of becoming millionaires overnight not knowing it takes hard work determination and perseverance to reach there.

 

[Janita]

The biggest problem between beginner is that they are not properly planned about their business that what will they produce from this business and how much capital will be required before starting business they are not sure that how much we will need to hire employees and how much they will work in our company there is always a proper mind setup and proper planning regard starting business beginner makes always this mistake and they always invest more more in the beginning from my perspective they should always invest little amount it and always start often small business to get the the point that will they work they've manage it is really or not.