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Startup World
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Essentials for success in business
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Fear of Failure
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Time Mismanagement
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Lack of budget for marketing
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You are not suppose to start a business only b'z you have surplus money with you or you have a good product. To succeed a business, of course finance is needed but the success lies in the ability to drive a business with all the necessary support both human and technical areas by seeing the possibility of failure (risk) but with the ability to manage and overcome the same and by achieving the set target and above that.
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You shouldn't be in business and work somewhere else if you are
1) not fully aware that your business could fail 2) not willing to take risks 3) terrified of failure Failure goes in hand in hand with entrepreneurship. Fear of Failure is the biggest risk of an entrepreneurship |
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Time Mismanagement is another risk I see in entrepreneurship.Most the business fail within the first year because the owner couldn't get a handle on work time versus the rest of life time.Owner either spend all of their time working, or they can't quite keep themselves on a schedule.
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Most new businesses simply don't have large marketing budgets. and it should not be an excuse for not marketing. Because if you're not getting your name out there, someone else will...use non expensive marketing tools like networking. |
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by
amit chaudhry, Senior Consultant, IML
| 7 months ago
Join networking groups, chambers of commerce or industry organizations for an inexpensive marketing tool. Attend events where you'll meet new people and distribute your business cards.

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I don't think there is anything much left to cover Mihir, with so many topics that you have mentioned itself is very big list...Thanks for sharing this as we all will be learning so much from your postings....will look forward to your posts Mihir. |

