3. You Focus Too Little on Marketing

Viral marketing and word-of-mouth are not enough these days to make your product and brand visible in the harsh attack of new media out there today. Even viral marketing costs real money and time. Without effective and innovative marketing across the range of media, you won’t have a business.

2. Maintaining Equal Partnerships

When starting a business, entrepreneurs tend to divide ownership equally among the partners. But while partners may agree in the early stages, disagreements will surely arise. Partners also often have different ideas about how much time to put into the business. Ensure that there is a defined leader with adequate authority to make final decisions and sufficient compensation to remain motivated.

1. You Give up too Easily or Early

The most common cause of startup failure is that the entrepreneur just gets tired, gives up, and shuts down the company. Many successful entrepreneurs, like Steve Jobs and Thomas Edison, kept working on their vision, in spite of failures, until they found the success they knew was possible.