19 Common Mistakes an Entrepreneur Must Be Cautious About
Bangalore: Many entrepreneurs who jump start their own ventures have little or no experience. It is totally ok to screw up at some point. Entrepreneurship is a process of testing, failing, refining and testing again. Most importantly you learn a lot from your mistakes than your successes. Statistics show that the failure rate for new startups within the first 5 years is as high as 50 percent. But these mistakes are certainly not necessary. An entrepreneur is smart if instead of learning from his own mistakes, he learns from the mistakes committed by others. Doing this, he saves cost, time, and pain.
Here is a list of mistakes that an entrepreneur commonly makes in his early stages:
19. You are Going for it Alone
It's difficult to build a successful business if you're the only person involved. It is very difficult to pay someone else at the early stage. The solution is to make sure there are enough margins in your pricing so that you can bring in other people.
