The
good news is that everyone expects entrepreneurs to make mistakes, since
founders explore uncharted territory. In fact, investors recognize that
founders usually learn more from mistakes than from success, so a
well-explained startup failure can improve their odds of funding the next time
around. However, investors do expect you know the common pitfalls -- and not
repeat them.
As
an active angel investor and startup advisor, I’ve seen many of the same
stumbling blocks repeated all too many times. As a result, repeating any of the
following 10 mistakes outlined here won’t get you any credit for intelligence
and learning and will cost you dearly in your funding credibility and real
cash.
1. Assume you already know what your
customers need and want.
2. Confidently believe that you have no
real competitors.
3. Try to solve all the world’s
problems with a first solution.
4. Forecast revenue growth that
defies business principles.
5. Dismiss the need to register any
intellectual property.
6. Count totally on friends and family
to run the business.
7. Delegate cash-flow projections and
transactions.
8. Hire helpers in lieu of people who
are smarter than you.
9. Build the company at the expense of
employees.
10. Try to build a business without
specific milestones or a plan.
Also
read : http://goo.gl/HEkwis
To Develop your Mobile app for startups with Affordable Market Pricing you can Contact us at http://mobileapps.rapidsofttechnologies.com/ or drop an Email us at : sales@rapidsofttechnologies.com
To Develop your Mobile app for startups with Affordable Market Pricing you can Contact us at http://mobileapps.rapidsofttechnologies.com/ or drop an Email us at : sales@rapidsofttechnologies.com
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