Beware! Avoid These Mistakes In Start-Ups

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BANGALORE: To give you the scope of exploring and experimenting than reporting to a strict boss, is always a better choice. So if you finally decided to go for a start up job, it definitely involves a lot of risks other than facing a loss.  A wrong business idea, a wrong location, and a wrong target audience anything can stand as a major reason for failure of the business. Along with Tweakyourbiz, we give you ten situations where your every step should be counted in a start up, so that the business goes on the rocks than booming off in the way.

#Lack of Business Plan
A business plan sketches out schedules and structures the start up. It should be brief, clear and goal oriented. Putting up a business plan in flowery language is not the work.
One has to chalk it out with the key persons of the business and make sure that it’s attainable in nature. It shouldn’t be anything impossible nor should it be left undefine expecting time to take care. The plan should include target, accounts, labor, competition and marketing details.

Read Also: Indian Cook-And-Delivery Startups To Witness Rise In 2015
10 Indian Startups To Be Familiar With Right Now!

#Starting your Business For The Reasons
Every business that is happening on earth has some reasons for which it started. The success of a start up depends on why it was initiated. If the probable causes of you starting the business is just by seeing your friend doing good over it, or you are not answerable to anyone, then the longevity of the business is at stake.
It’s the passion, determination, interest and patience that act as the driving force behind the success of your start up.

#Poor Business Management
Poor management has been the root of failure of many blockbuster business houses as well. The task of the management includes purchasing, finance, production, and selling, hiring and managing employees.
Now the director or start up manager is himself at the ground stage of their career. They lack the experience to look into the entire process of work altogether. This turns out major reason behind the fall back of the business. So it’s important for more than a person to look into the flow of the start up and maintain a healthy work report.

Read Also: Indian Cook-And-Delivery Startups To Witness Rise In 2015
10 Indian Startups To Be Familiar With Right Now!

#Inadequate Capital
Once a business is  initiated  it’s like the course of a river. The methods and steps are interconnected over time and also associated with investors, buyers, suppliers and many other heads.
To keep this flowing that too in the start stage it’s important to have enough capital in hand. A lack of funding can simply put off the business. And the idea of recollecting capital and go on with the work after sometime does not work when there are others involved in your string. So, save enough before you start.

#Poor Location
Geographical location is a critical factor in determining the luck of the start up. Suppose a Bengali moves out to Bangalore and starts a restaurant expecting the Bengali crowd to respond to the business, it might not work out because there are strong competitors in the market of Bengali food in Bangalore.
Hence, along with the availability of customers it’s important to check out the competitors already in the market, history and receptiveness of such a business in the market.

Read Also: Indian Cook-And-Delivery Startups To Witness Rise In 2015
10 Indian Startups To Be Familiar With Right Now!

# Not Willing To Get Your Hands Dirty
Startups work from the scratch stage till celebration of success. At the initial level one cannot be choosy about work. He cannot complain but just keep on working.
Than working, he decides to change the market or complain about it in the first stage, the rest might simply kick him out. So in the initial stage, any work is good work – is the notion. The notion is for all involved in the start up and not only the debut director.

# Unwanted Spending Habits
We all know, investments are subjected to market risks. Hence, it is important for the finance guy to determine where to pay and where to restrict.
If he feels he can consult authorities or the manager at every occasion but not end up in a wrong spending. Necessities definitely need to be paid off, and luxuries or unnecessities can be left back at least in the first stage of the business.

Read Also: Indian Cook-And-Delivery Startups To Witness Rise In 2015
10 Indian Startups To Be Familiar With Right Now!

#Spending Too Much
Just because you want to water the business well, it does not imply only spending money in it. Labor, effort, planning, scheduling, directing – are crucial to the success of the startup also.
As you have cash in hand do not over spend expecting an over return. Spend ample and adequate to get the return of the investment you are making. Profits should be calculated at the end.

#Neglecting your Strengths and Weaknesses
In a start up, you are your own boss. You have no one to blame if there is a fall down of the business. So, assessing yourself and keeping account of the merits and demerits of the start up, is your task. If you do that from the beginning, you will have no time in thinking whom to blame in a later stage.

#Over Expansion
Thinking big is a good habit. But making it big that too in the initial days can make it unnecessarily complicated.
You should not branch out so much, that you fail to access the business. At the beginning, all you target is a sound business with a good mission and aim of solid profit within a definite span of time.

Read Also: Indian Cook-And-Delivery Startups To Witness Rise In 2015
10 Indian Startups To Be Familiar With Right Now!











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