Four of the Most Common Pitfalls of All Startups

Startups are, for the most part, unsuccessful. Unless you’re willing to jump through many hoops in order to get your business off the ground and into the limelight, you’re going to have to work from the ground up and there are many hurdles that you need to overcome in order to reach the top, or even have a reasonable amount of success.
In this article, we’ll be taking a look at four of the most common pitfalls that startups face these days.

1. Neglecting financial responsibilities

Whether it’s the need to use cloud accounting or hire an accountant, it’s crucial that you keep all of your financial data recorded and up to date.

2. Failing to capitalize on growth

You might latch onto a trend and see significant growth, but you need to evolve your business model so that it can be a sustainable source of income and not just a temporarily spurt of grow that will soon decline.

3. Having no documented processes

Businesses are orderly and their results need to be replicable. If you don’t have set documentation and rules that your company operates with, then it will devolve into a chaotic atmosphere where getting something done can take forever.

4. Lack of employee motivation

Motivated employees are more willing to work harder. Make sure you speak to your employees in order to get them motivated to do some work. You might find that it’s somewhat challenging to do this, so take a look at the infographic below for some tips.

Infographic: Infographic by: national commercial law firm Harper James Solicitors/