Every startup must have gone through some rough patch, embarrassing situation, times when their capability was questioned or must have gone crazy tackling with the unpredicted conditions. After facing such downfalls, these beginners must have certainly wished that anyone should have exposed them the true picture before messing up, so that they would have geared up for the bumps on the path. However the startups were glad that the bummer short-lived and they soon recovered from that phase. There are few wise entrepreneurs who screwed up in their earlier days but are generous enough to share their blunders and miscalculations, so that the budding business owners can learn from their mistakes and avoid those pitfalls. The bits of advice would likely help the blossoming entrepreneurs to go on the right track and avoid the most common goof ups.
Here is some honest guidance from the experienced startups who wished they got the same assistance at the time when they kicked-off:
Smallest amount of time will be dedicated for the work for which you started business:
Okay you started business, because you love cooking or designing. So what do you think will you be engaged in this activity, all the time? Well, you are completely wrong, you are not just the part of business, you are the owner, so apart from the core work, you have to undertake various other responsibilities. In fact, the smallest amount of the time will be spent on what you love while all the other time will be used up for creating business plans, marketing, selling and answering or communicating with clients. Thus first you have to play the role of the business owner then the creator.
Shortage of finance is part of business journey:
You must have strategically planned for finance for your business, taken satisfactory loan from the bank but still you will come across a situation where you will run out of money. It is a common scenario while starting a business. Hence there is no need to panic about this condition, just be prepared with additional funds. Falling short of finance is a dreadful state, but if you are well aware then you can be prepared and face it confidently.
You are your biggest competitor:
The biggest challenge while running a business is competing with your own self-doubt. Getting hold of customers, maintaining cash flow, hiring is tricky but the conflict with yourself is much challenging. You need to deal with this reality and work hard to live up to your own expectations. You must have seen some dreams, so to fulfill them you have to struggle then only you will feel the triumph.
Marketing cannot be avoided:
Usually businesses feel that marketing is optional but they fail to understand that marketing is compulsory. Let it be any kind of business, marketing cannot be avoided. If you want your products and services to come in public eye, then marketing is must. Some entrepreneurs feel uncomfortable with self-promotion but even if you hire a professional for marketing, you have to do some kind of promotion by yourself. Keeping your business website up to date is also kind of marketing.
Go and chase your dream of being an admirable entrepreneur. Smoothly ride through those bumps and drive on the way to success.