1. Most entrepreneurs think that capital is the biggest problem they have, but its not.
2. We see the vision and expect everyone around us to do the same! And I cannot say how important this is, do the numbers, cut financial projections by half and by half again.
3. One mistake is that there’s a fracturing of focus on all that you could do.
4. Many startup founders think that they will get funding while maintaining their job.
5. Most entrepreneurs overestimate their capability to deliver alone.
6. Most startups are formed with the founder’s perspective of a problem and their solution. So the product (or) service is designed with themselves as the target market in mind, which results in them not doing much research about their potential customers.
7. Often the founder of the startup is compelled to micromanage every aspect of the business, as a result the leader gets so caught up in the day to day that they tend to lose sight of the bigger picture.
8. Most startups don’t have the required support network they need to succeed.
9. The mistake most people do is they might end up becoming a one-man army because they are not patient enough to build structures and find it difficult to delegate.
10. The first mistake I think of is that (entrepreneurs) don’t have a business plan.
11. We have realized that most startups forget to focus on getting compliant with government and city by –laws.
12.The biggest mistake startups make is becoming obsessed with being popularly known as ‘financially successful’ instead of knowing themselves to be the most effective and efficient solvers of their customers’ problem.
13.Using funding as an excuse to not start
Credit: CNN