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