These five mistakes are super common, and unfortunately, they're entirely preventable.
As an entrepreneur, you're going to make mistakes. Some of those mistakes might work out in your favor. Others might threaten the health of your entire business. Even though it's useless to prevent every mistake (as you'll make some no matter what), preventing the mistakes you can is a wiser strategy.
Being a serial entrepreneur in my own right, I've seen countless startup mistakes, both in businesses I've created and in businesses I've advised. These five are some of the most common, and almost paradoxically, they're some of the most preventable:
1.Launching too early. Launching your product (or service, or site) is exciting, and obviously the sooner you do it the sooner you'll get to see the rewards. But that's no reason to rush the project just to get it out there a day early. Launching too early, before you've properly tested, can mean disaster for your brand if there are any critical flaws in your work.
2.Hiring the wrong person. Take your time when it comes to hiring people. Don't hire someone just because you want to fill seats. Hire someone because they're a good fit in terms of both skills and personality. Hiring the wrong person can cost you time, money, effort, and set you back months of work.
3.Ignoring criticism. Customers, mentors, and even your employees will have criticisms about your company and your products. You don't have to take action on every little piece, but you do have to listen and take away the important bits. Your perspective can only take you so far.
4.Getting distracted by numbers. Revenues, profits, and funding are all important, but they're not the most important things in a business. Experience, product, and brand are even more important in the early stages.
5.Refusing to change. Your business needs to evolve over time, and even your best ideas may need tweaking if they're going to survive. Don't be afraid to change.
Don't let these mistakes eat away at your business! Take measures to stop them before they even become a problem. Beyond that, don't sweat the occasional mistake -- they're valuable learning opportunities, and they always offer a chance for growth.
Bio:
Jose Vasquez is a serial entrepreneur and tech enthusiast dedicated to helping startup technology companies get the direction and momentum they need to succeed. As the founder of Build. Brand. Blast., Jose has established a collective resource for tech entrepreneurs to consult when brainstorming, creating, launching, or expanding a new business. Jose is also the founder and CEO of Quez Media Marketing, a marketing firm that combines technology and creativity to help new and growing companies get the results they need.
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