4 Deadly Sins That Will Instantly Cripple Your Startup | Jaysciencetech--Science and Tech blog on How TOs &Create

4 Deadly Sins That Will Instantly Cripple Your Startup


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Why do many start-ups fail within the first 18 months after sprouting? 
According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail before they set sail on the voyage to business success. That is a whopping 80 percent. 
If you're reading this, it means you may be one of the 80. Your boat just got hit hard by the fierce, angry waves of the typical turbulent business atmosphere. 
A bulk of blog posts out there will tell you it's the "scarcity of enough oil (capital) to run". 
Though usually true, I find this is not always the case.
Why? Because I have witnessed businesses with scads of capital to keep them afloat but still end up sinking into the deep.
For this reason, I give you four sins that will instantly ruin your business and more importantly, what you can do to avoid them.
Sin #1 Laziness
Because you committed mind, body and soul in the first 12 months doing a perfect job of building solid blocks of your business foundation shouldn't be an opportunity to recline. 
Laziness is like cancer. Give it a chance and it'll eat you whole.
Laziness kills your business drive. As a result, your startup will struggle to succeed. It'll lead to increasing workload, pressure and finally, the inevitable: "the end of a potential brilliant startup".
Therefore, to succeed you must learn to tamp down the tempting urge to relax because comfort will ruin your business. 
Let drive and determination triumph over laziness to pedal you start-up daily.
Sin #2 Self-centredness
Self-centredness. The concern for oneself. The "about me" factor. 
The attractive and powerful burning light of your start-up will extinguish the moment it centres around you.
Your business should never be about you. Never. It should be about the business. It should be about your visions for it and the paths that will lead you to them.
The main reason you started your business should never be to increase your deflated ego. 
Of course, it is understandable your contributions and leadership are the pillars on which your business is standing. But, never make it about you. 
Instead concentrate on building an excellent business team and network. Listen carefully to customers and clients for they're vital to ensuring a long-standing successful business. 
Sin #3 Inability To Communicate Effectively 
Effective communication is an important tool for any business owner. Winning your target market, sealing a lucrative deal, blowing up a potential opportunity is dependent on how effective you can get your point across. 
Lose your shot and find yourself at rock bottom with spongebob. It doesn't matter how much you invested in the start-up. You will blow all your hard work off the roof if you always fail to get across a simple, clear and concise message to your target customers and your entire business team.  
You want to keep your clients satisfied and customers always coming back. More importantly, you want to increase your customer base. Speak their language. 
Get engaged with them through conversations. Be dialogical. 
Sin #4 Inability To Move Quickly And Capture A Market 
Do not wait on the competition to take huge strides in testing a potential fast money-making market. 
Be innovative. Be fast. Own the niche before your competition does. Practice Experimentation, Minimum Viable Products, Lean Marketing. 
Take for example, Lean Marketing. It allows for flexibility, and easy coordination with other departments. The Lean process helps you to adapt, tweak your marketing strategies as the market changes. Lean reduces your chances of failure and increases your possibilities of success. 

Strong and well-established business start-ups not only adapt to changes but move with it. They create a system that listens to customers.

"Think and move quickly, ‘fail fast’ if you’re going to fail at all, and nail your business model. Otherwise, you’re in the 80% bracket my friend."--Eric T. Wagner
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