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Entrepreneurship can be chaotic....

<div>Entrepreneurship can be chaotic.

Most first-time founders make the same mistakes.

Here are 10 mistakes that most people made so you don't have to:</div>

<div>1. Understand your market and target audience

Common startup mistakes founders make is: -Not conducting proper market research -Only focusing on improving the quality of products

Remember that initially, your customer's feedback is more important than the product’s quality.</div>

<div>2. You cannot do everything on your own

Don't assume that you're all alone.

Find trustworthy advisors and business partners.

Form a reliable core team to discuss your ideas, challenges, and wisdom.</div>

<div>3. Finding right people is important

A company's first set of employees and investors can make it or break it.

Working with the right people is important as you will see a lot of ups and downs along the way. Having the right people by your side makes it easy to get through.</div>

<div>4. Don't hire too soon

It is important to realize when to hire a full-timer.

Working with freelancers will make more sense if the startup is in its early stage.

As per the requirement, you can find people and onboard them full-time.</div>

<div>5. Fair product valuation

Having the value of a product too high or too low is a threat

You may have best intention to provide free value but do not become the source of freebies

Product valuation comes with measuring how it is making a difference in the life of its users.</div>

<div>6. Don't launch too soon.

One of the biggest mistakes in a startup is launching the product too soon.

Launching in public means kick-starting the business. So ensure that your system and process are in place.</div>

<div>7. Create a marketing plan

Once you have successfully addressed the problem and created a product or service to fill the gap, it's time to find your first 10 users and then 100 users, and so on.

It is where a detailed marketing plan is important to get you more users.</div>

<div>8. Don't overpromise and under-deliver

Don't stack work overwork. It's always good to ask for a further deadline than to take too much workload.

More important is to gauge your time bandwidth than to underdeliver.</div>

<div>9. Too much planning

Too much planning can lead to confusion and eventually becomes a failure. So make a plan that leads to a clear decision.

Address the key areas instead of fixing everything.</div>

<div>10. Employee accountability

Your employees' accountability will say a lot about their performance.

It also helps define the thin line between a good employee and a bad one.

So make sure the accountability game of your company is strong.</div>

<div>TLDR;

1 Understand your market 2 Find the right people 3 You cannot do everything on your own 4 Don’t hire too soon 5 Fair product valuation 6 Don’t launch too soon 7 Create a marketing plan 8 Don’t over promise and under deliver 9 Too much planning 10 Employee accountability</div>

<div>If you find this thread insightful, RT the first tweet and Follow @rajshamani for more threads on content creation, finance, and entrepreneurship.</div>

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