Which fatal mistakes should startup founders avoid? 🙅
It's crucial for entrepreneurs to keep their hands on the pulse when it comes to launching their startups. Tons of things can go wrong, and sometimes disappointments hit in places you least expect.
What you can do is try to use the knowledge obtained from the wins and failures of other startups and use this experience to your advantage. To be better prepared for potential challenges, here are the ten things to dodge:
⛔ Having no pre-launch and business plan
⛔ Not testing hypothesis and validating assumptions
⛔ Running the startup solo
⛔ Hiring the wrong people or recruiting irrationally
⛔ Neglecting data analytics and feedback
⛔ Getting distracted and losing focus
⛔ Spending money excessively
⛔ Ignoring your knowledge gaps
⛔ Scaling at the wrong time
⛔ Being irresponsible with legal compliance
Here’s a resource that describes each point listed above and gives plenty of tips and recommendations ⬇
Thinking too much. I’ve read somewhere that entrepreneurship is not a thinking game - it’s a doing game.
And in my experience successful entrepreneurs are never the smartest people in a room. (Often quite dumb actually.) But they are the most active people in a room.
Good point! 👍