4 Startup Nightmares You Need To Avoid To Succeed

Launching your own startup isn’t as easy as you might think it is. If it were simple, everyone would be doing it.
While it feels like everyone is launching their own startup, you can bet that plenty of people have fallen at the first hurdle. Don’t want to be one of them? Learn some lessons from these common startup nightmares and turn your startup into a dream.
1. Not being ready to commit fully
Launching a startup takes a lot of work. Like entering into a relationship, you’re going to need to commit fully and not run onto another project when you get bored, or the going gets tough.
It’s a big investment for your money and time, and if you’re not ready to really commit to it, it’s not for you. Make sure you’ve got the drive and the energy to dive in 100%, as a half-hearted attempt is doomed to fail.
2. Having ideas, but not being able to materialise them
This handy startup failures infographic from Entrepreneur offers a lot of insight into some of the most common reasons startups fail. One of the key ones rests in the idea itself. It’s great to be an ideas man, but can you actually take something from your brain and turn it into a business? If not, you might want to think about someone who is more of a doer than a thinker to help you get your ideas off the ground.
Don’t give up the day job until you’re sure you can see it through.
3. Blowing all your money at the beginning
Running out of money is usually the final nail in the coffin for a startup, and is something that happens all too easily. Whether you expected more investment, or simply got carried away – poor financial planning will be the death of your business. Enlist some professional financial help such as a finance broker to help you make sure your business is properly funded. You might think that you can manage your finances yourself, but if you have any doubts at all, avoid disaster and go to someone who knows what they’re doing.
4. Thinking you can do everything yourself
Like your finances, there are some things you simply won’t be able to do well for your startup yourself. If you have no experience of HR, marketing or logistics, you’re going to struggle to figure it all out while getting your startup off the ground.
When making your grand startup plans, factor in the fact that you’ll need others around you to carry out the tasks you’re unfamiliar with. This way you can hire the right people, or set aside a budget to people on a freelance basis.
In this age of entrepreneurship, the good news is that there are others who have come before you. Learn from their mistakes. This infographic serves as a valuable point of reference for new entrepreneurs and offers a lot of insight thanks to lessons learned by others. Dream big, but be realistic to help you avoid these common startup nightmares.