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  • Starting-Up: Don’t Do This

    Too many new business leaders plan for everything, except how to get the word out about their new business. It’s like having the best widget shop, and all these people need widgets, but no one knows you exist. It’s totally self-defeating.

    There are thousands of books written about what you should do when starting your business, but most leave out, what you shouldn’t do when becoming an entrepreneur. I asked a few¬† Upstart: Business and Management for 20-40 Year Old Professionals members, what they thought were the most common-start-up mistakes. It might look rudimentary, but due to emotion and a all-or-nothing attitude, too many potential business owners compromise their potential enterprise by making these mistakes.

    1. Over-Committing Financially — yes, you want to put ever dollar “you can” into the business, but don’t forget the basics of maintaining your lifestyle. And don’t forget to pay yourself.
    2. Unrealistic Expectations — to think that all employees share you desire to see the business succeed can be problematic to your perspective. Also, don’t think that because you started a business, money is just going to pour in — expect a drip, as opposed to a downpour.
    3. Isolation — Too much of your own thinking, and not allowing other viewpoints.
    4. Planning — too much fantasy and hyperbole, as opposed to ruthless planning: also planning for the unexpected and for opportunities brought by nature or competition.
    5. No Promotion — too many new business leaders plan for everything, except how to get the word out about their new business. It’s like having the best widget shop, and all these people need widgets, but no one knows you exist: lack of promotion is self-defeating in so many ways.

    Good luck.

    Calvin Wilson
    Founder and CEO
    Upstart: Business and Management for 20-40 Year Old Professionals
    calvin.wilson1@verizon.net
    http://twitter.com/Upstart__Nation

    Filed Under: Startup/Entrepreneur

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