With everything that’s going on in the world right now, you’re probably thinking about starting a business and that’s totally understandable.
But what you don’t want to do is make the same old mistakes as everyone else when starting up. So here are the top 5 mistakes people make when starting a business and what to do about them.
TOP 5 MISTAKES YOU WILL MAKE WHEN STARTING A BUSINESS
1. 🧠 • Let ideas float around inside your head for ages without taking action.
2. ☹️ • Spend zero time with customers and fail to identify their needs.
3. 💬 • Poorly articulate to customers how your product can help them.
4. 👎 • Not realise that what customers say and do aren’t always the same thing.
5. 💸 • Waste time/money over-engineering the first version of your product.
WHAT TO DO ABOUT IT
1. 📝 • Get your ideas out of your head and on to paper as soon as possible.
2. 👩🏼 • Speak to customers and get crystal clear on their most important needs.
3. ✅ • Clearly articulate to customers how your product can help them.
4. 💳 • Get customers to show interest, ideally with their credit cards.
5. 🎁 • Make a scrappy prototype first and focus only on the core features.
How many of these mistakes have you already made? What ones have we missed?
---------------------------------------------
Subscribe to The Spen and Nick Show if you love business, innovation, design and learning.
However you prefer to listen - we've got you covered.
YouTube: https://www.youtube.com/channel/UC32LXYZ34sNZfgk0QpdWCxA
Apple Podcasts: https://podcasts.apple.com/gb/podcast/the-spen-nick-show/id1488379880
Spotify: https://open.spotify.com/show/5DRQpB2g4V3XM8o6fMKh1W
Follow us on Instagram Instagram: https://www.instagram.com/spenandnick/