Wrong Ideas That Lose Startups

Deciding to become an entrepreneur is usually not easy. Practice shows that successful startup businessmen were those who had a desire to radically change the market and help their consumers in solving a problem or those who wanted to annoy a bad boss from a previous job.

1.”I’m just starting a business, why do I need a business model and organization?”

Those who believe so are usually in three of the four startups that go bankrupt during the first year. Due to a lack of understanding of their company’s business model, young entrepreneurs often invest in well-known unprofitable businesses. They usually calculate the net profit and forget to calculate the costs of advertising, security and wages.

2.”My product is unique and only I can provide it.”

This idea is common for online schools, educational programs and various types of training, when a business is launched and the product itself is not. The owner’s misconception is that he will build a large company if he lectures, that is, produces what his consumer pays for.

It’s like a handmade: even if you are a cool master and very popular, without a description of the technology of production and delegation of their functions to others will soon rest on the “ceiling” and will not be able to develop…

  1. “We have little money, so we will not spend on marketing.”

Underestimation of marketing has ruined many good businesses. Some still believe that renting a warehouse, filling it with goods and telling friends about it will be enough. However, in the age of the Internet, you need to spend money on marketing to reach your consumer. Practice shows that it is necessary to allocate 12-20% of the company’s turnover for development every week. Yes, it’s a lot of money, but if you don’t try to find money for marketing, you’re not investing in development, so you’re already losing to competitors.

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