According to statistics from Exploding Topics, 90% of all startups fail. First-time startup founders specifically have a success rate of about 18%. Although these numbers might be disheartening, learning some of the most common startup mistakes to avoid can give you an advantage over other businesses right out of the gate.
Many of the most common challenges of startup companies revolve around disorganization and poor management. Keeping yourself grounded will go a long way. Here are 5 of the biggest startup failures that could doom your business.
Overall, focus on doing things the right way the first time, even if it’s more time-consuming or more expensive. Although avoiding these startup mistakes won’t guarantee that your business will thrive, you’ll stand a much better chance by learning from the failures of others.
Want to learn more about making your startup a success? I write a business blog article each week on high-value issues for entrepreneurs. Click here to sign up for a weekly idea to incorporate in your business so you can avoid the most common startup mistakes. Better yet, let’s discuss a coaching plan that will significantly increase your probability of success.
Coach Dave
Contrary to popular belief, you don’t need to be an expert to interpret analytics for…
Although networking is a popular topic of conversation among entrepreneurs, small business owners often lack…
Learning how to identify trends in consumer habits is an invaluable skill for a business…
I’ve always championed going beyond customer satisfaction to achieve customer delight. When we try to…
How well do you handle emergencies as a business owner? An adaptable entrepreneur considers crisis…
Business owners can face unprecedented disruptions to everyday processes when the future feels uncertain. An…