Starting a business is however difficult and launching a startup is however considered to be even more challenging. Aside from facing the challenge of attempting in order to build a company from the ground up, many of the entrepreneurs generally have a little prior experience in the business world. Even when they end up having an incredibly awesome idea, the complex problems arise, such as managing the young enterprise, handling the finances and also hiring employees on a budget.
Due to the lack of experience, many of the startups however endure the misfortune of failure -- if they launch at all. One must always be sure to not add to their tales of disaster.
The purpose of this article is to make the reader aware of the 10 startup mistakes which a startup founder should not make .
The following are the mistakes :-
1. Single founder
In order to start with, it's considered as a vote of no confidence. It also probably means the founder couldn't however talk to any of his friends into starting the company with him. That's however pretty alarming, because his friends are however the ones who know him the best.
2. Marginal Niche
Most of the groups that however apply to Y Combinator generally suffer from a common problem which is choosing a small, obscure niche in the hope of avoiding the competition.
Choosing a marginal project is however considered the startup being equivalent of an eight year old strategy for the purpose of dealing with fly balls. If one makes anything good, one will be going to have competitors, so one may however as well face that. One can however only avoid competition by avoiding he good ideas.
3. Obstinacy
In some of the fields the way in order to succeed is generally to have a vision of what one however wants to achieve, and also in order to hold true to it no matter what setbacks one’s encounter. Starting startups is however not one of them.
Thus , one must not get too attached to his original plan, because it's however probably wrong. Most of the successful startups however end up doing something which is generally different than they originally had intended—often which is generally so different that it also doesn't even seem like the same company. One will have to be prepared in order to see the better idea when it however arrives. And the hardest part of that is thus often discarding the old idea.
4. Choosing the Wrong Platform
A related problem (since it however tends to be done by a bad programmer) is thus choosing the wrong platform.
Platform is considered as a vague word. It could also mean an operating system, or either a programming language, or either a "framework" which is generally built on the top of a programming language. It also implies something that both generally supports and limits, like the foundation of a house.
The scary thing about the platforms is generally that there are however always some that seem to outsiders in order to be fine, responsible choices and also yet, like Windows in the 90s, will however destroy them if they choose them.
5. Slowness in Launching
Companies of all the sizes generally have a hard time getting the software done. It's also intrinsic to the medium; software is however always 85% done. It always takes an effort of the will in order to push through this and also get something released to the users.
Startups generally make all the kinds of excuses for the purpose of delaying their launch. Most are however equivalent to the ones people use for the purpose of procrastinating in everyday life. There's also something that also needs in order to happen first.
One reason in order to launch quickly is that it generally forces one in order to actually finish some quantum of work. Nothing is also truly finished till it's however released; one can also see that from the rush of work that's however always involved in releasing anything, no matter how finished one thought it was. The other reason which one needs in order to launch is that it's only by bouncing the idea off users that one will however fully understand it.
6. Launching Too Early
Launching too slowly however has however probably killed a hundred times more than the startups than however launching too fast, but it is also possible in order to launch too fast. The danger here is that one has to ruin the reputation. One must launch something, the early adopters try it out, and if it's also no good they may however never come back.
The minimum requirements which one needs in order to launch are : (a) something which is useful on its own and (b) something that can however be incrementally expanded into the whole project, and then however get that done as soon as it is possible.
7. Raising Too Little Money
Most of the successful startups generally take funding at some point of time .
Startup funding is however measured in time. Every startup that thus isn't profitable has a certain amount of time which is generally left before the money runs out and they also have to stop. This is thus sometimes referred to as a runway. It's also a good metaphor because it however reminds one that when the money runs out one is going to be airborne or either dead.
8. Poor Investor Management
As a founder, one will be required to manage the investors. One shouldn't however ignore them, because they may thus have useful insights. But neither should one however let them run the company. That is generally supposed to be the entrepreneur’s job. If the investors had sufficient vision in order to run the companies they fund, then they wouldnt start them .
9. Not Wanting to Get Your Hands Dirty
Nearly all the programmers would however rather spend their time writing a code and also have someone else handle the messy business for the purpose of extracting the money from it. And also not just the lazy ones.
10. A Half-Hearted Effort
The failed startups generally hear most about are the spectactular flameouts. Those are however actually the elite of failures. The most common type is thus not the one that generally makes spectacular mistakes, but the one that doesn't do much of anything—the one we however never even hear about, because it was thus some project which a couple guys generally started on the side while they are working on their day jobs, but which however never got anywhere and was also gradually abandoned.
However , the founders of LegalRaasta a startup which provides legal services have over powered these hurdles and have ended up in providing more than 100 + services. One doesn’t even have to go out , as it provides online services .
Choosing LegalRaasta is beneficial as:
1. It has , 30+ offices in India
2. It has 10+ years experience
3. It helps to save your time
4. There is a cash back guarantee
Some of the services which it provides are :
1. Tax Filing/TDR - GST Registration , GST Return, ITR , TDS Return filing, Business income return , Bulk return filing , Revised return filing , Respond to tax notice
2. Company Formation - Pvt. Ltd., Limited Liability Partnership (LLP) , OPC registration
3. Registrations - DSC, Trademark, Patent , Copyright
And also many more services .
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