Building a successful new business is a roller-coaster. There will be days you know you couldn’t do anything else, and days you wish you did. Sometimes you’ll be on top of the world, but at other times it will be a struggle to drag yourself out of bed.
In the high-stakes world of starting a new business, only one thing is certain: everyone will make mistakes, but only those who learn from them will succeed.
So, to help you learn from these common errors, without making them yourself, here are 8 mistakes that startups frequently make;
Restructuring a business can be a turbulent time; you may be juggling legal issues with disgruntled employees, expansion plans with uncertain investors or faced with frustrated customers.
However, that isn’t a world away from the day-to-day nature of running a business, and you shouldn’t feel unnecessarily daunted just because you’re moving in a new direction.
When most people start their business, there are several things they happily give up for a while: a guaranteed salary, sleep – and holidays.
It’s one of the hallmarks of a start-up. In the first year, the founders can find it really tough to take time off.
So if your start-up’s stopping the summer sun, how about building your business from the beach instead?
Of all the many things that can disrupt or wreck a business, a change in ownership must be near the top of the list. When family politics are added to the mix of a process that is usually fraught with difficulties in any case, it can be an explosive combination.
If you have started your own business you could probably tell the rest of us what marketing is all about as you have already made the jump into territory demanding passion, insight and sheer bloody courage.
To coincide with the publication of Levi Roots’ new book, here are ten business success tips from the Dragons’ Den star, and the man behind Reggae Reggae sauce!