Top 10 Mistakes Business Make

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Top 10 Mistakes Startup Businesses Need To Avoid

It’s fairly common knowledge that fifty percent of start-up businesses fail in the first year and 95 percent fail within the first five years but despite the economic downturn, the small and medium business market continues to grow.

While no one knows for sure if a business will succeed or fail – you can take steps in order to help your business get off to the absolute best start.

We’ve put together a list of the top 10 mistakes made by start-up businesses…

Number 1 - LAUNCHPAD Accounting

Building something nobody wants

Are you sure there are really is a market and demand for both your business and products?

Number 2 - LAUNCHPAD Accounting

Hiring poorly

Do you really have the right team to help make your business succeed?

Number 3 - LAUNCHPAD Accounting

Lack of focus

You think you have a great business idea but are you spending your time effectively

Number 4 - LAUNCHPAD Accounting

Struggling with your sales and marketing

Do you have a well constructed marketing plan? Is your sales team (even if it's just you) fully supported?

Number 5 - LAUNCHPAD Accounting

No having the right co-founders

Are all the business co-founders working to drive the business in the right direction? are you working as a team?

Number 6 - LAUNCHPAD Accounting

Chasing after investors, not customers

Is you time better spent serving your customers?

Number 7 - LAUNCHPAD Accounting

Not making sure you have enough money

Do you have your finger on the figures? DSo you really understand your business cash-flow

Number 8 - LAUNCHPAD Accounting

Spending too much money

Do you feel like you are spending too much....but not making enough?

Number 9 - LAUNCHPAD Accounting

Failing to ask for help

Do you know the right people of team to turn to for help with your business?

Number 10 - LAUNCHPAD Accounting

Ignoring social media for your business

Do you know how to effectively use social media for your business?