Basic mistake which we do when we start a business

[Bisolami]

Therefore, we must always save some money for our future needs and not spend it all carelessly.

We just have to save. We need money in our account because we are human beings and we will always have emergencies

 

[riberet19]

We just have to save. We need money in our account because we are human beings and we will always have emergencies

Having extra money for emergencies is vital in reality, in addition to having savings allows you to take advantage of future opportunities for example in investment and business areas for example

 

[Heatman]

Yes, that's right. To be honest, loans cause me stress. I always get money from my savings to cover any needs that may arise.

I will never take loan for my business set up and not to talk about getting loans for my personal use. It's a very bad thing to do.

 

[Bisolami]

Having extra money for emergencies is vital in reality, in addition to having savings allows you to take advantage of future opportunities for example in investment and business areas for example

Every reasonable person out there has an emergency money. It will be kept for emergency purpose

 

[Shavkat]

The only thing that they forget in starting up their businesses is to conduct a feasibility study. It is the main core of knowing a particular company if it is viable or not. Having a business plan is not enough.

 

[Bisolami]

The only thing that they forget in starting up their businesses is to conduct a feasibility study. It is the main core of knowing a particular company if it is viable or not. Having a business plan is not enough.

Feasibility study is very important in a business. It is important to conduct a research before you start the business.

 

[LoukiaCharilaou]

We just have to save. We need money in our account because we are human beings and we will always have emergencies

This is true. Life is so unpredictable and needs always arise. Thus, we must save money for a rainy day.

Post automatically merged: Feb 26, 2023

I will never take loan for my business set up and not to talk about getting loans for my personal use. It's a very bad thing to do.

We agree. Loans are a headache for me because I do not know if I will be able to pay the money back.

 

[ekta]

A common mistake when starting a business is understanding costs, leading to insufficient funding. Additionally, overlooking market research and failing to differentiate from competitions can result in adequate demand. Finally, neglecting to develop a solid business plan and lacking a clear proposition are critical errors.

 

[cherry123]

Behind a successful business Location play a crucial role , you should select a business's location very wisely, you need to find a location where there is a lot of people to buy

 

[nomad]

The most important thing to remember in a business is to know your customers. Without knowing who your customers are, you might not be able to sell your products and services.

 

[King Belieal]

One of the biggest mistakes we do when we start a business is not securing a market. It always becomes a problem when you try to start looking for customers after the business has already been set up.