Bangalore: The Startup stage is common to any Business. It depends on an individual’s caliber as to how they manage their resources in the most effective manner in order to establish an Organization. There are startups which fail miserably to root themselves in the market and liquidate within a short span of time. Here are 10 common mistakes made by these startups that lead to their doom as reported by Lauren Drell of Mashable.

1. Lack of Simplicity leads to Non-Transparency

Startups often tend to forget that by keeping things simple they can keep transparency within the organization that will make life easier for the shareholders, Investors and other Individuals or entities that are in some way or the other related to it. Young entrepreneurs tend to complicate things while preparing structured partnership agreements, Financing, Leasing etc which in a way makes the organization and its policies non-transparent. A new startup should follow all the basic norms and frame policies that make the organization transparent.

2. Delay while launching a product

The startup company comes up with a product and when the launch date is scheduled they postpone it on the basis of last minute changes that have to be done. It shows that the company does not have faith over its creation and they tend to increase the budget which should have been maintained at a standard level for any startup. Instead a startup should go ahead with the design and get feedback from the market so that they could improve upon it. Having a scheduled launch of a product speaks a lot about the commitment that the company has to offer to its customers and partners.