What are the mistakes Entrepreneur makes?

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I am a young and an Aspiring Entrepreneur who wish to add more value to lives, I have some ideas but what are the challenges and the mistakes Entrepreneur makes

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Business 9 months 2 Answer 1665 views Beginner 0

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    There are many depending on how you will look at it.

    1. Inability to take decisions when and where necessary.

    Sometimes an Entrepreneur is faced with a lot of challenges but ability to know whether to continue or not often takes a long time.

    2. Inability to manage risk

    Risk is a big part of business, but most Entrepreneurs are so afraid of it. They long for success, yet not willing to take that bold step.

    3. Starting out.

    So many things are always on an Entrepreneurs mind that he or she is most time confuse on when and how to start, so starting can be a great mistake because once they miss the best timing, success rate is slim

  2. Truemg

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    Not being dedicated
    You have to be completely dedicated to your business. I’ve made the mistake in a past company of not being 100% focussed and you don’t get where you need to be very fast. When you take on too much, you feel like you’re mitigating risk but in fact you’re just setting your business up to fail.

    Having a poor relationship with your co-founder(s)
    Great comments on the importance of founding team on this post; a point I agree very strongly with. I’ve been lucky enough to not have that problem but I’ve seen a ton of startups with friction early on – that’s never going to be a recipe for success…particularly when you’re trying to build a team around you.

    Not validating your business idea
    See my answer here: Hannah Chaplin’s answer to What should be the most important step for a business startup when I got the idea?

    Thinking building a business is easy
    Building a business is tough, it’s not a hobby. It’s tremendous fun but you have to hustle, hustle, hustle. Make sure you really want to do it!

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