Things to avoid when starting a business

[Sheyemanu]

Concerning your question, I would say that there are supposed foundations that’s ought to be laid when starting a business and that’s a good business plan. You need to create a business plan and have professionals vet it. Also you always have some back up savings in case there’s need to cover expenses of miscellaneous and other things that might come up later

 

[Judee201]

Act hastily

Do you have the feeling that things are not moving fast enough? This is entirely normal. But that doesn’t mean you need to act in a rush to achieve your goals. To avoid mistakes, you should always make sure you understand what you are doing and why. This is true of all your interventions as a business leader. Avoid, for example, getting involved too quickly or, in a problematic situation, deciding the influence of emotion. Also, take the time to properly assess your ideas before devoting a lot of energy to their development. One of my mistakes was applying for financing when my working capital was not strong enough (even though I was expecting large payments from some clients). I understood this over time.

 

[Mastercoded]

AVOID THE FOLLOWING WHEN STARTING A BUSINESS
NEVER COLLECT LOAN FROM BANK TO START A BUSINESS
NEVER INCLUDE FAMILY MEMBER IN YOUR BUSINESS
DO NOT BE A SPENDER
DO NOT NEGLECT GOOD ACCOUNTING AND BOOK KEEPING
NEVER JOKE WITH LEGAL BACKUP

 

[Olahab]

Ignoring the competition is another potentially fatal business mistake. Simple question #1: If you’re selling your thingamabobs for $10.00 apiece and Vera down the street is selling her thingamabobs for $6.00 apiece, how many thingamabobs are you going to sell?

 

[jimmann247]

There are so many things that one need to avoid to be able to be successful in business, but one may not be able to keep to all but there are some basic one that one really need to avoid, things like lieing too much in your business, avoid it, welcome customers and be polite, don't be arrogant.

 

[Thosynho]

When staring a business, I would advise you not to borrow more than you can pay back. This is because you do not know how the business would turn out to be. Secondly, do not let family and friends take from your business without paying you for it. This could crumble your start up. lastly, it is important that you do a proper background check around the location of your business as there could be other competitors there. This will make you prepare well.

When starting a business, avoid the rush of spending from the business on the early stage. You need time to grow the business and grow your wealth. Spending early from the business can cripple it from growing to your desired level.

 

[Sextafeng23]

The biggest mistake you can make is to be afraid of failure. Failure is key to your success, and jumping into your fear is very positive for your future business.

 

[Jlife]

proper planning in a business is one of the best thing one needs to understand before going into any type of business because if you do not plan your business as you should do there is a higher possibility that you may not be able to succeed in that type of business.

 

[Abelcairo43]

You need to avoid unrealistic expectations from the beginning of your business, avoid using arrogant people to promote your business because the first impressionmatters a lot in business and don't mix your personal money with business money to enable you determine the success of your business

 

[Oluwasayofunmi]

Concerning the question on things to avoid when starting a business that you asked, avoid friends that says something negative about the business, avoid spending recklessly, avoid laziness

 

[solomonmali]

Not doing a business plan before starting a business you are to draft your business plan, you should as well make sure you do business you have passion for, you should as well do a market research, not understanding what you are actually selling.

 

[Xerryl]

You should avoid a negative mindset.. approach your business with positivity always...also avoid pessimistic people, people that don't or can't encourage you in a positive manner but nevertheless,also try to avoid people that won't tell you fact when things are challenging

 

[Luckboy]

You should try avoid this
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. Test your products and service first before you start a business.

 

[sam386150]

I think things we need to avoid in a newly business is giving out goods in credit, that is one of the major thing that falls new business, we should also be punctual to the business ground, always give out a very good and services to those that patronize you.

 

[Josephjossy]

There are many things you need to avoid when starting a business, first you need to plan the business very well. You need to avoid excessive spending. You need d to understand that business don't have any friend or family. You need to avoid playing on business time, what ever your doing make business to be the first.

 

[Bangiszz]

Things should have been set up prior to firing up a business are

A Business Plan. A Business Plan must be set up which is the one that will direct the business in order to know whether you're on target or not

Doing What You Love. set up a business,thing you live doing like planting, making hair and various kinds gives you an edge in your business in front of others Market Research. You should do statistical surveying in order to know the interest of individuals in your region

Overlooking the Competition.

You should Take Account of Your Own Strengths and Weaknesses.

You should Understand What You're Actually Selling.

Not Making Sure You Have Enough Money.

Not Investing in Marketing.

 

[Yaqoob Habib]

Things to avoid when starting a businesss are
• Not Doing a Business Plan
•Doing What You Love
•Not Doing Any Market Research
you should also always have some back up savings in case there’s need to cover or take care of miscellaneous expenses.

When starting a business don't waste too much time on your business plan
Inability to adapt.to survive, sometimes startups need to pivot their business strategy, Mistiming the launch.timing is everything for a startup.
Ignoring the competition .
No investing in marketing.

 

[Hamza1]

There are many things to avoid but the questions is can you avoid it. Like taking big loans. Avoiding taking big loans that you will have difficulty later to pay. Avoid having unnecessary expectations at start of business. Avoid hiring non professional worker for marketing .

 

[Ridorz]

When you are starting a business there some certain things to be avoiding in which to make the business keep existing and to stay away from fall. I think as a business beginner you should avoid of a overspending, you should try to avoid the producing of unquality product, you should avoid the overlook behavior, you should avoid of copy other etc.

 

[Neeta313]

When starting a business, one important thing you need to avoid are those people who will buy on credit, those are the kind of people that can run down your business. Ensure you avoid those people because as a beginner, you need your business to pick up and start running. If you start having customers that will be buying on credit, they will greatly affect your business.