New Business Starter Mistake

 Mistakes make by New Business Starter





It is often said that, more than half of new Business fail within the first two years, according to statistics.

As a startup business owner you need to understand and avoid some common mistake, in order to be a  successful business owner, such as,


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  • Bad Location:- it is important to consider a location that will suit the type of your business for foot traffic, not just any location, but the right location for people who needs your product and services.
  • Absent on internet:- This days, social media has been the talk and do everywhere, your presence on social media can be all you need, to succeed as a business owner.Your online visibility and availability, markets you to your target customers who need your product and services.
  • Market investigation:- poor or improper market investigation before embarking on the journey can ruin your business,if not careful. You need to find a service or products unmet around your location or vicinity, to avoid unnecessary competitors, especially those who have been in the business before you.
  • Poor Business Plan:- Many fails to prepare a business plan, shouldn’t necessarily be a long document. This will help keep your effort consistence. Highlights achievable goal and how they can be met, your possible problems to encounter and it solutions if been encountered. Cost and impute needed for the business, and the strategic you are to use, and also how to monitor your progress. 
  • Doubling your spending and changing strategies may leads to business failure. This should only occur if your business Plane is inaccurate, or when market condition change drastically affecting the growth of your business so you may revisit to edit your plan 
  • Inadequate Financial resources:-Plan to start with enough money that will last you, till the business begins to generate inflow and can stand on its own.
  • Above all seek for Knowledge and pray to God for direction







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