5 Facts Business Start-ups Must Know In Order To Avoid Failure.

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Everybody who starts a business wants to succeed but not all succeed. As a matter of fact, only very few start-ups become business stars who make it to the top. Those who fail don’t succeed, not because they don’t work hard enough, but because they don’t know and do the little things practised by the few successful ones.

There are few basic facts every start-up who desires success must know. Make peace with the following before you become an entrepreneur;

  1. Convince yourself that you sincerely love the business of helping people get the best of what they need and want, at the most affordable of prices. You should be ready to help free of charge at the beginning, if it’s necessary.
  2. Pick a line of business that you love. Turn your hobby into a business. You are at home when you do what you love. And you excel by doing what you enjoy and love so much.
  3. Carry out a thorough research before you begin. Find out from some of the people you wish to use your skill(s) to help, how you could either add value to what they are getting or fill a need-gap.
  4. Start small, avoid high start-up cost and over staffing. At the beginning, try to be a jack of most trades and a master of all. Learn few things about every aspect of your business.
  5. Be patient with yourself, be patient with the growth rate of your business and avoid to experiment with too many systems and models. Develop a simple model and stick to it. You can learn more about how to stay calm and be patient while you build your business here.

http://www.amazon.com/Why-Startups-Fail-Yours-Succeed-ebook/dp/B006RM2KOY.- David Feinleip.

6 Comments Add yours

  1. I would like to add that for a successful start-up is desirable to have a support, a network, your “own tribe” so to speak that will help you position your business, spread the word and encourage you. Support is of great importance.

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    1. ayietim1 says:

      Yes Businessinryhme, you are absolutely right. It is necessary to identity your ‘tribe’, work closely with them and learn relevant success strategies from role models, who are successful citizens of your business ‘tribe’. Thanks for your contribution.

      Liked by 1 person

      1. I regularly follow your blog and you tackle some very interesting topics:)

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      2. ayietim1 says:

        Thanks very much. I am encouraged.

        Like

  2. Inyene Luke says:

    Hi, thanks for this,

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  3. dina nga says:

    Entrepreneurs are determined, bold, and competitive. Most of the time, they have the personal qualities they need to run a successful business. Then why is it that an astonishing eight out of 10 small businesses fail every year? By examining pitfalls in businesses that are doing everything “right,” it becomes easier to see how it takes more than an ambitious CEO to achieve success. Here are five of the most common mistakes I’ve seen small businesses make in their first few years of operation: Failure to market online. In an age where “Google” is a verb, if you’re not marketing online, you’re not selling as much as you could be. According to Invesp, 80% of Internet users have used the Internet to make a purchase. Additionally, 81% of Internet users research products online before making a purchase. In order for your business to thrive, your business must be visible to consumers doing their online research and shopping. SEO work, social media marketing, and cross-selling between all communication channels are all absolutely crucial to increasing online visibility. Press exposure, press releases, traditional PR, social media, and even print marketing should incorporate strong online components. For example, many companies now incorporate QR codes and social-media icons into their print ads because they know an increasing number of people will look up their business online. The more that SEO activities intersect with marketing efforts, the more visibility you gain. Failing to listen to their customers. 78% of consumers will listen to the input of other consumers online more than any other source. Whether or not your primary marketing efforts are online or offline, give your customers an easy and immediate way to interact with you online. They can give you feedback about your product, pricing, and business practices. In turn, you give them a “chat level” of response that can turn into an ongoing relationship. Your quick and helpful responses to your customers’ feedback and reviews will impress both your current customers and potential customers–those who are looking into online reviews to determine if they want to use your business.

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