The most common mistakes of inexperienced entrepreneurs

Like everything in the business world, you have a risk and experience is fundamental. If you set out and create a new company must be careful with much detail, it is why we have compiled the most common mistakes of inexperienced entrepreneurs.

mistakes of inexperienced entrepreneurs

Invest too many resources
This is usually a fairly common mistake in novice entrepreneurs, that to the start investing a lot of time and money into an idea without having proven before the real needs of the market. It is to say that many times in the “role” seems a very good idea, but in reality do not reach the potential customer and ends up being just an idea, not a reality to bear fruit.

Do not ask the right customer
Sure all entrepreneurs know that before launching any product or service must do a market study, but the most common problem is that not going to the “right customer”. It is more many carried out a survey among friends and family and will remain with those responses as definitive or conclusive. It should “fear of losing market” and go beyond and look at the real potential customers.

Not knowing the value proposition
Another is also quite common among the “new entrepreneurs”, not knowing what actually generating the product or service, i.e. ignore the value proposition. This error also diminishes the credibility of the service, and even in the entrepreneur; also it creates doubts in the team and their investors (if any). If the entrepreneur is not clear to this point, it is going to be very difficult to convince the other.

Love the idea
Many entrepreneurs are fall in love blindly of their idea and not see more beyond. It is good that the entrepreneur creates in his idea and to transmit confidence to others; but it should also be aware that it is not the only or that “invented the wheel”, must be aware of the limitations and there is a chance of failure and need to know when to move back.

Undertake alone
While it is true that you can start with entrepreneurship alone, it is not always ideal or the best way. An entrepreneur who starts not always going to have a complete view of a business, that’s not a bad idea to have someone of trust and experience to the side, plus specialists dealing with specific topics such as finance, human resources, advertising etc.