6 start up mistakes to be avoided for entrepreneurs
TRANSCRIPT
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6 start-up mistakes to be avoided for Entrepreneurs
Prepared By;
Rathod Abhik
(13MMF0001)
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Who is entrepreneur? What is
Entrepreneurship? Who can become an
Entrepreneur?
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Questions To be Answered Have you done sufficient research? Should you approach a venture capitalist or a bank to fund
your business? How much time you give to your business to start churning
profits? Is it a time to start a business or wait till you gain the required
experience?
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6 start-up mistakes Not doing adequate research Moving ahead on flawed assumption Scaling up too early Not keeping tabs on expenses Underestimating manpower needs Not maintaining a financial buffer
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Not doing adequate research Sufficient market research Through research Ignoring Results
LootStreet.com( Arun Balakrishnan )
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Moving ahead on flawed assumptions
Bugs of market research Incorrect estimates of market Expenses Putting too much pressure on employees
Taggle.com ( Rutvik Doshi ) Koolkart.com ( Suneil Chawla )
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Scaling up too early Early Growth Limited Experience Scaled up without fixing a problem Inadequate funding
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Not keeping tabs on expenses
Unnecessary expense Try to be frugal Keep the overhead cost low
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Underestimating manpower need
Lack of manpower Wasting time on someone’s strategy
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Not maintaining a financial buffer
Hesitation to start up a venture Short gestation period of business venture Lack of contingency fund
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The 6 Traits of successful entrepreneurs
Be agile Know your audience, and be unique Be a risk-taker Commit to a business model Follow your gut instinct Build an accessible network of experts
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