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10 Common Mistakes That Startup and Small Companies Make

Young companies have small margins for error. Mistakes made early on can sink a company before its gets off the ground. Here is a list of 10 common mistakes made by young, small companies

Source | www.fastcompany.com | DAVID LAVENDA

Young companies have small margins for error. Mistakes made early on can sink a company before its gets off the ground. Below is a list of 10 common mistakes made by young, small companies. In the list below, I use the generic term “product” to refer to either a product or a service.

Over the next few posts, I will expound on these ideas; for now, here is the list :

  1. “Drinking Your Own Kool-Aid” – Overestimating the Enthusiasm for Your Product/Service – thinking your product is more special than your customers perceive.
  2. Not Validating Market Demand – thinking that your product is a “winner” before making sure you get a solid base of people who agree
  3. Starting to Work with Customers Too Late – only engaging with customers when the product is ready for sale.
  4. Underestimating the Difficulty in Penetrating the Market – not expending enough effort to reach customers and to get them to try the product.

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Source
www.fastcompany.com
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