Don't want to start a business or fail? Never do these 16 things!

Between 2004 and 2000, 75% of the startups that received VC investment finally failed.

However, please do not leave the above data to encourage you to fail. There must be a reason. It may be because the developed products are not as good as you think, or the team wants to solve too many problems at the same time. The divergent result is to create a product that cannot solve anything, after all, focusing on development is very important.

How can we avoid making a failed mistake? Lauren Drell, author of Mashable, drew comments from the startups, CEOS, and venture capitalists and sorted out the most common mistakes that new startups can make at 16. Entrepreneurs should always check whether they have made these mistakes. Learning from previous mistakes is the key to avoiding failures. Let's take a look at these 16 key points:

1. Don't make things too complicated

Developing a product is like packing your luggage, putting everything you think you need into your suitcase, and then taking half of it away.

-Jonathan Wegener, founder of timehop and exitstrategy

2. Wait till the day ends before deciding to release the product

Don't underestimate the importance of "minimum viable design. The initial appearance of the product may be a bit ugly, but it doesn't matter, as long as the product can enter the market as soon as possible, in order to understand the customer's views on your product.

But do not rush to launch the product, and ignore the basic threshold to make the product look good. Products developed by my first company were liked by users at the time, but because of poor design and visual performance, users were reluctant to share our products. When we published the muse, we learned that 25% of users shared the muse to their friends through social media.

-Kathryn minshew, the muse founder and CEO

3. Unwilling to recruit talents

Some new startups will think that it is costly to have an accounting, financial, or other professional talent, but do not be afraid to invest administrative resources in the company in the early days.

If no one handles these things, it will be "you". In the end, you will spend all your time on matters that are not the most important for the company's development.

-Matt Salzberg, founder and CEO of blue apron

4. Don't be flexible

Many new startups have set a clear final goal and how to achieve it in the early stages. This is not bad, but it is not what new startups should do in the early stages; instead, we should maintain an open mind and be flexible and responsive.

-Jeff jackel, CEO of buzzmob

5. product concept is a secret

Many new teams have put their product concepts under protection. They all think that this idea is only available to themselves and is a treasure. If it is known to others, it will be stolen.

First, you must have thought about it. Second, there is an idea not to express the ability to become a product, turning it into a product, and executing it is the real start. Finally, you will need help and guidance from experienced people, so please share your thoughts happily!

-Jeff jackel, CEO of buzzmob

6. not focused enough

I think it is very difficult for many new teams to fulfill the requirement of focusing on this because there are too many things going on at the same time. You have to make a decision when you have to make a few decisions, and you have to maintain rapid development.

It is very difficult to focus on your products, target customers, and strategies from the first day, but you must learn to adapt and remember your original intention.

-Alexa von tobel, founder and CEO of learnvest

7. products can be easily discovered and shared

Many founders think that as long as I develop a product, users will use it on their own. But I want to tell you that users will not come if you do not sell products.

To make services and products scattered like viruses, we have to start planning from the early stages of product design; spend some time thinking about why people want to understand and share your products, and then do what they want.

-Jeremy Fisher, CEO of days and wander

8. focus too much on finding funds

It is not a good thing for many young entrepreneurs to determine whether funds are successful. They should focus on establishing a highly feasible and profitable enterprise.

-Brian Garret, co-founder of stylesaint and Venture Capitalist

9. Incorrect contact with investors

The common mistake new startups make is to pursue VC without strategy. This is definitely not a good method!

You should get to know venture capitalists through those who have already invested, rather than sending emails or LinkedIn VC continuously. The recognition and recommendation of newly-established companies that have been invested in the company are of great reference value to investors.

-General manager Sam teller Launchpad la

10. Over-perfectionist

Many startups strive to make every decision perfect, but this will slow the company's pace forward.

My co-founder and I have also made this mistake. Sometimes I only need to make a phone call, make a decision, and make new progress.

-Matt Salzberg, founder and CEO of blue apron

11. The opinions and responses of others cannot be focused.

There will be a large group of people who will constantly share with you their views on your company and products, and then you will want to adjust your company or products through feedback.

But remember that the responses and comments are based on the knowledge and experience of those people. Your job is to receive these messages and add them to your own opinions, can be used as a suggestion to adjust the company.

-Allison Beal, co-founder and CEO of stylesaint

12. Locate the co-founder of the Error

In the early days, you were able to find the right co-founder, investor, and working colleagues. The ideal partner was able to complement you or possess the expertise you didn't have, but the most important thing is whether you can share consistent values. Is it like how many risks you are willing to share and can you agree to the moral judgment of the other party?

-Kathryn minshew, founder and CEO of the muse

13. I want to win everyone's favor

The biggest mistake I made in the Early Days was to turn every non-user into a loyal fan and try to convince everyone who doesn't agree with our greatist. But I soon learned that it makes sense to find investors who have already affirmed your products and think about how to turn them into our biggest supporter.

-Derek flanzraich, greatist founder and CEO

14. Do not listen to the user's voice

New startups often indulge in their product ideas in the early days, making it difficult to accept the opposite voice of the market. If your product cannot be accepted by the market, you cannot really own a company or a company that keeps you struggling all the time.

-Nicole glaros, general manager of techstars

15. hasty decision making

Before you have completed an interview with ten people in the same position, do not decide who you want to accept; be objective and do not indulge in something.

Before you decide to bring people who have the potential to become co-founders into the team, you must understand them well. I have seen too many examples of splitting the company due to problems with the co-founder.

-Jay Levy, co-founder of Zelkova ventures and uproot wines

16. do not maintain the relationship

Always interact with people who can give you guidance or help your company develop, set your calendar, and execute it; A fixed meeting can be arranged from short to every hour or long to every quarter.

Every time you think you want to cancel these meetings, please think about the cancellation result as sending a letter at the beginning of the letter, "it has been a long time since we met you ......」 This kind of email is a headache for you, and you can re-establish the relationship later!

-Ally Downey, co-founder of weespring

 

Source: techorange