Mistakes to Avoid in Starting a Business

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Actions speak louder words as they say. In the course of the journey of life either starting a business or doing something new, rather than opening your mouth wide and telling people about what you do, its best if you

just keep your mouth shut and get the job done. Read the tips below for some mistakes you need to avoid in starting a business. 

Mistake 1:
Talking too much about your vision instead of sitting down and working hard at it.
A great future is never built by excuses and explanations. You make a big mistake by thinking that your idea must be 100 percent right before you start off with it. Don't fall into this pit just as many have. Until your idea is in the market place and no more in your head that people can help you refine it. Know this; people will find it difficult to add value to what they can not visibly see. You need to put your vision into action. Talking and talking about it will never yield the fruits you desire neither will your inaction bring it into reality. You need to start now, every other adjustment can be made as time goes on. 

Mistake 2:
Filling your business with friends and people you really don't need.
One of the greatest mistakes which many young, small business owners make and still make is to fill their businesses with family members and friends. Take this as a rule; never bring in people you cannot fire when you have to. Do not employ people simply because you desire to fill a space. As a business owner (especially a small business owner), you cannot afford the luxury. If you are not careful, these kinds of people become liabilities to your business and may end up terminating the life of your business abruptly.

This however does not mean you should not employ friends if they are good. Nonetheless as the business owner, you should properly clearly define the job description for every vacancy and recruit ONLY THOSE who are qualified to fill the vacant positions. If any of your friends or family fit in, you can employ them but ensure they are properly recruited and that they sign all necessary conditions attached to the employment and also making them know that they can sacked if they do not measure up to standard.

In conclusion, take charge of your life; take charge of your business

Morakinyo Mo Beckley
Seun you're on point all the way and I couldn't have said it better. My emphasis is on the part of defining job descriptions for whoever is hired. Small business owners usually overlook such seemingly small issues which then comes back to haunt them. I would always advice that every business no matter how small should start and run their operations as professionally as possible from the word go. This improves chances of survival.
April 5, 2012 at 12:32pm

Joseph Philip
Very very true
April 5, 2012 at 12:33pm

Segun Ogunlana
@Seun & Morakinyo; You have spoken well. Thanks
April 5, 2012 at 12:39pm

Joseph Philip
@Segun, you are welcome. You are doing a great job here
April 5, 2012 at 12:41pm

Owonuwa Hannah Olubunmi
Wow dis so so on point.thumbs up dude.
April 5, 2012 at 1:11pm

Joseph Philip 

@Hannah, I'm glad this blessed you. Please kindly share. Thanks.
April 5, 2012 at 1:15pm

by Joseph Philip

Read 655 times Last modified on Monday, 04 May 2015 03:33
Segun Ogunlana

A social innovator, a fixer, who likes to make a difference and get things done better. His focus covers Project Management, Systemic Innovation, Product Development, Design Thinking, Business Strategy, Set-up & Development. Some call him a super manager, natural marketer and sales man. He is a Chelsea fan too.

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