The Most Common Mistakes Made by Aspiring Enterpreneurs

Friday 27 December 2013

The Most Common Mistakes Made by Aspiring Enterpreneurs

Here are some common mistakes that enterpreneurs encounter , and what to learn form them :

1. Asking Wrong Questions to Wrong People.

Just asking your family and freinds about your idea, doesnt provides you with the right choice of the business. Usually they say Yes. Its difficult to say No when you do not commit to buy a product. Your Family and Friends will always support you in your business. But its important to know the weaknessess of your idea and the loop holes to it.

2. Staying in your comfort zone.

Its important to get oustside of your comfort zone. Hanging in the same circle , Sharing with the people you know is not cool for your business. Get outside of it. Doing things you dont feel uncomfortable with is doing something wrong with your business. So start moving out , hanging out with Strangers , forming new grpous and socialize yourself to get out of your comfort zone.

3. Fear of Sharing Ideas.

If you have amazing idea but fear to share from others as they may Steal your Idea , this is worng.Putting your idea into existence takes lot of money , passion and time. And Just telling your idea just doesnt provide anyone with all that drive to go ahead and commence that.

But one thing I wolud like to say is dont go and share your idea to a Venture Capitalist , until and unless you want money from them and legally sign it on paper.

4. Miscalculating Expenses

There is a common misconception that the business expenses will be too low , may be 200$ . But I would say Noooo to it !!!!

You may incur expenses like its incorporation , insurance cost, Book Keeping , Assistant salary and many more which are unavoidable. So keep a track of correct expenses and never misguide yourself.

The barriers will always be there , but if you can learn how to move around them , you will be on a path to self-improvement and closer to your dream.