A startup business can be a person/persons very first business. This means that mistakes are very common. Even if you’ve started up a business in the past, it’s important you avoid the most common mistakes people make!
Neglecting To Do Your Research
Doing research before you’ve even started a business to ensure that it’s a viable idea is a must. When you research, you’ll be able to build on your own ideas and make sure what you want to offer is what people really want. Many startups make the mistake of thinking that they’ll tell people what they want, but it doesn’t work like that. You should do research with your target audience as well as keyword research to figure out what’s really going to work.
Having A Lax Customer Service Policy (Or None At All)
Customer service is one of the most important things in modern business. The customer might not always be right, but you need to act like they are. Coming up with a great policy so that each and every customer is treated properly, and feels like they have had a victory even after experiencing an issue with your business is a must. Customers need to know that you care about them; that you want them as a long-term customer. This means building relationships with them, and going above and beyond for them when something goes wrong. When you’re just starting out, you can’t afford to lose customers and develop a bad reputation. Neglecting your customer service will give you both.
Failing To Ensure Necessities Are Installed Before Moving Into Your Office
Before you even move into your office you should make sure you have necessities in place. Every business needs a reliable phone service like VoiceOnyx so that they never miss an important message. We wouldn’t get very far without the internet, either!
No Business Plan In Place
A business plan can help you to stay focused on your goals, not to mention help you to secure funding if you need it! Even if you create a rough business plan, make sure you put one in place.
Having a money mindset means handling your money correctly. You started a business because you wanted more money, so make sure you’re treating it right. You should have an accountant, or at least a reliable way of keeping track of everything. You should also have a cash cushion. Paying yourself a set amount and then keeping the rest in the business each month is a solid plan. Don’t go out and buy a sports car when you make your first big sale!
Having Zero Flexibility
Startups need to remain flexible. Many startups have started out as something completely different, and then changed when they paid attention and built upon what the market wanted. Make sure you stay flexible and be open to change.
Avoid making these startup mistakes and you might be in the small percentage that actually stands the test of time. Leave your thoughts below!