During the cause of starting your own business, i am pretty sure you must have made one or more mistakes looking back you wished you had avoided them. For me one of the biggest mistake i made was letting my fear make me procrastinate certain decisions i needed to have made back then. What was yours?
Mistakes you wish you could have avoided as an entrepreneur
- Thread starter eldavis
- Start date
I use my capital to start building counters that is expensive. I would have concentrated on buy more goods than beautifying my shop. I spend my capital decorating my shop and later my capital is not enough to buy enough goods.
I guess not conducting thorough market research and understanding my target audience before launching a product or service.
- Thread starter
- #6
True, the standards you set for yourself is the same standards your customers would treat you.
One of the biggest failures I regret is not starting my business when I was in University when I was getting free money. I had the idea but waited to graduate first and I eventually struggled to start.
Yes, you are right, mistakes often occur in business. In addition, the fear of failure and lack of self-confidence also makes a person not dare to take a step further. There are also those who think too much so they don't act to carry out every business idea that exists.
This is the mistake that many budding entrepreneurs make. They are always busy calculating potential profits. They don't sit down to ascertain if the business they want to start has people that would patronize the products.
Yes, doing market research before starting a business is very important, so that we are not wrong in making business decisions. Because with accurate market research data, at least we know what many people need, so we can take it as a profitable business opportunity.
At this moment when I look back then I realized that one mistake I had done before starting this business was the selection of a shop, my shop is located in a lower-class area where I still did not get much more customers who can purchase an average price items.
