Mistakes when starting a business

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Written by Sara Gonzalez
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It has happened to all of us that at some point we have wanted to carry out our business idea, but surprise! We did not know where to start and of course, it is possible that we end up making mistakes that cause our business idea to fail or even worse, never take off.

80% of companies do not make it to 4 years of life, which means that important mistakes are made that ruin our business plan. In this post we will tell you what the most common mistakes are when starting a business.



Lack of a feasibility plan:
By this I mean, see if it is possible to develop estonia phone data a project model. Decide on the idea and then develop it, but don't commit 100% without doing a study, because the idea may not be good or may not work as we want and we could go bankrupt.

Don't be afraid to make a shareholders' agreement, it is very common in today's companies to create a community of property . But it is true that you should talk to them about all the issues that may be sensitive such as hiring family members, subsidies to some of the partners and how to distribute them... it is essential to make these issues clear since it is one of the main reasons why a company is dissolved or closed, due to the poor management that occurs due to such disagreements.

One way to plan your business model is through the canvas model, a system that allows you to create a business plan quickly and visually. Using this system will save you time and money when designing a product or service. You will have a clear view of all the parts that make up a company and improve its aspects.

You must know perfectly well the product or service you want to offer, the short/medium term benefits, the estimated income you will obtain and many other details. The normal thing is to start writing each of the sections in detail and if something fails you must go back to the planning table. In the end you could have wasted a lot of time and energy on a plan that has served no purpose. Using this business model you will be able to check the viability of an idea in a matter of minutes or increase the efficiency of an already established company.