BANGALORE: The business sector in India has achieved quick growth following economic liberalization. Every entrepreneur aims at starting a business and building it into a successful venture. The whole process of starting a business begins with writing an appropriate business plan. Once a plan is prepared, the entrepreneur faces various challenges while implementing the plan. What common mistakes do new entrepreneurs and start-ups make? Let us take a look at the following mistakes, as compiled by Business Insider

#1.One-man army

For a company to accomplish success, employee teamwork is essential. Different people and different groups across your business working together will increase the efficiency to reach a common goal. Teams can achieve work more quickly and effectively than people taking on projects on their own and collaborative work keeps employees responsible to each other, which increases motivation.

#2.Short-term business pleasure

As the owner of your small business you must set short term goals for your business to achieve long-term success. Improve your workforce productivity and get a clear state how many years it should take you to reach a certain percentage of growth in revenue. You should focus on retaining and training your employees and on acquiring technological improvements. Identify your company's performance and its resources against past performance and other industry competitions.

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