Mistakes Start-ups Make

Having worked with a lot of start ups, over the course of years, I have witnessed that  20% of start-ups fail during the first two years of commencing operations, and almost half of all businesses hardly see the sixth year? Ever wondered what mistakes are all these start-ups making? 

Wrong sales figures

To begin with, we can safely say that one of the biggest mistakes that a start-up makes is overestimating the sales forecast they think they’ll garner because they think selling is easy! But the hard fact remains that sales take time and they take even longer when dealing with B2B clients B2B sales.

Customers come with myriad excuses to not buy products so remember that converting customers and estimating sales is THE one thing that start-ups need to get right. Make sure your sales forecasts are correct so you can handle your expectations in a much better manner.

Taking on investors rather quickly

You most definitely need investors. But not too early! Test your product, make sure of an MVP (minimum viable product) before jumping on to the investor bandwagon. Investors want proof and getting them on board very early might not be give you the chance to do things right.

Identify if there is a market for your product. Know what the initial start-up business plan would be and what kind of marketing works for it. If you take into consideration these things, you will soar high faster.