2. 10 STARTUP MISTAKES
Not Including Online Marketing as
Part of the Plan: Marketing and
Public relations play a very crucial role
in presenting a particular product or a
service. The marketing ensures that
the target customers are bound to try
at least for once, the newly launched
product or services. Neglecting online
marketing in a startup plan can be a
non-rectifiable mistake.
3. Lack of Proper Networking: Proper
networking is the key to opportunities.
A good network acts as oxygen and
water for your start up. This is so
because all the best opportunities are
shared from person to person through
back channels.
10 STARTUP MISTAKES
4. Do Not Hire the Best Resource Hire
the Right Resource: Often people
make the mistake of hiring the costliest
resource. A newly started venture
cannot bear the burden of high costs. It
should be borne in mind that the key to
the success of the startup is not the best
resource but the right resource.
10 STARTUP MISTAKES
5. An Inimitable Website – Your Firm
Visiting Card: A website is nothing
less than a virtual address of your start
up. It is the first impression on the
people’s memory about your venture.
Any lacunae in the website in terms of
missing information or incorrect design
can lead to failure.
10 STARTUP MISTAKES
6. Wrong Investor/Co-
founders: All the co-
founders should have
some or the other kind
of expertise and should
be willing to dedicate
their time in making the
venture a success.
10 STARTUP MISTAKES
7. No Idea of Target Market: Before
launching any startup it is important to
have a detailed idea of your target
market and their preferences. Lack of
such idea will lead to non-catering of
their needs and eventually a failure.
10 STARTUP MISTAKES
8. Improper Funds Management:
Raising too less of money and
spending too much creates cash
crunch especially in cases of a
startup and hence reduces the
liquidity and finally lead to failure in
the long run.
10 STARTUP MISTAKES
9. Launching Early Premature
Stage: Launching the startup
at pre-mature stage, without
having its complete
understanding can be fatal.
10 STARTUP MISTAKES
10. No Idea of Competitors
Competition can kill the business
is rightly said. A very important
mantra for success is to have
complete idea about the
competition and to have a
counter strategy to beat them.
10 STARTUP MISTAKES
11. Flexibility: Business operates
in a dynamic environment
hence being flexible and having
back up plans in order to meet
the dynamics is of utmost
importance.
10 STARTUP MISTAKES
