Top 10 Mistakes Founders Make

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Engaging in any business startup can be risky, and even

more so when you are attempting to initiate a startup

in the technology sector.

 “A ship is always safe at the shore - but that is NOT what it is built for ” 

Albert Einstein

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Mistakes in any endeavor are bound to happen, but there are several key mistakes that are most certainly responsible for a significant portion of

startup failures .Many of these founder mistakes apply across all

startups in any location .

The top 10 mistakes startup founders inadvertently make are:

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Failure to partner with the right co-founders 

Failure to connect with trustworthy individuals who have the relevant skill set

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Failure to understand current trends

Inability to translate future market demands  into marketable or operational results

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Failure to have clear objectives

Not having set goals and knowing how and when they are reached

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Failure to account for external, non-related pressures

Working with partners who have other business activities and inability to fully

contribute are reached

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Failure to identify the customer

Not understanding the targeted consumer and their needs

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Failure to implement the appropriate marketing strategy

Not setting marketing goals and benchmarks to determine effectiveness

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Failure to establish a clear founders agreement

Not laying out the roles and responsibilities between founders at the outset

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Outsourcing core element

If your team relays on outsourcing for core elements of the product, your chances of

raising funding decreases

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Attempting to shorten incubation limitations

Trying to grow the business too quickly

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Unwillingness to Finance Boot Strapping Independently

Not willing to show ‘skin in the game’ may raise difficulty in initial fund raising

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It is incumbent on your endeavor to avoid these mistakes.

One of the best ways to make sure you are avoiding the pitfalls is to work with and engage with qualified professionals who understand what is at stake and how to provide solutions to the problems outlined above. 

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