More on mistakes entrepreneurs make

Recently I have been reading quite a bit about mistakes entrepreneurs make, we do not need to re-invent the wheel, but getting it work more efficiently ! Therefore learning from these mistakes is actually quite useful, and some of the general conclusions are listed down here below:

·         Develop a sound business plan

·         Attract and retain customers

·         Develop marketing niches

·         Maintain self-sufficient cash flow

·         Control costs

·         Identify problems early-on

·         Select appropriate resource people and staff

·         Forecast  growth cycle of new products/services

·         Innovate

·         Monitor and respond to trends

·         Adjust to changing markets and competition

·         Use technology efficiently

·         Work-through family problems

·         Maintain Control

·         Keep an inventory of your tasks and projects

·         Generate new and retain existing customers

·         Deal with impending litigation

·         Obtain needed financial resources

·         Keep on top of your Inland revenue paperwork and accounting

·         Keep good records

·         Communicate well internally

Bottom of Form

 

 

5 Quick Do and Don'ts of Entrepreneurship

DO

(1)   Put customers first all the time, listen to them, their needs and what they want out of your product/service.

(2)   Conduct quality market research before launching a product/service.

(3)   Test the market before launching full speed ahead and spending your budgets

(4)   Involve the end user as much as possible in the whole process. Involving them at the early design stages means that you are closer to your customer.

(5)   Provide the maximum value consistent with the sales prices

 

DON’T

(1)   Believe your own marketing and PR… listen to others.

(2)   Assume “because I can make a better  website than others, the market will agree with you”

(3)   Underestimate your customers and their purchasing prowess.

(4)   Build your dream team with friends. You need specific people with exceptional talents to compliment the team.

(5)   Underestimate your initial costs, these will be usually double what you expect.

 

Then... just learn as much as you can and go for it!!

 

Great Value Professional Courses: Monitoring the Performance of your business, Working as an Intrapreneur, Operating your Business, E-marketing and Website Design. @ 50 euros each course

@ Chamber of Commerce On the 16th @ 3.30 p.m. Branding specifically directed to businesses.

Join us for this free exceptional talk on the 16th November at 10.00 a.m.