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+--- Thread: What do you avoid when starting up or managing a business? (/showthread.php?tid=53)
What do you avoid when starting up or managing a business? - Shortie - 12-30-2022
When it comes to starting up or even managing a business, there are some things you will always ensure you do but in some cases, depending on what you are wanting from your business, there may be things that you avoid when starting up a business that you know would not be good for your business.
When starting up a new business, what are some things you stay away from? Is there anything that you avoid at all costs that you know would hinder your business rather than help make it a success?
RE: What do you avoid when starting up or managing a business? - BusinessGuru - 11-01-2023
While starting a business, avoid underestimating the importance of thorough market research. I once ventured into a business without fully understanding the market, assuming there was a demand based on personal preferences. Unfortunately, the reality was different, and my product struggled to gain traction. Additionally, be cautious about overcommitting financially. In another instance, I invested a significant portion of my savings upfront without a clear plan, only to face unforeseen challenges that strained resources. Lack of scalability planning can also be detrimental; I learned this when unexpected growth put a strain on operations and customer satisfaction. These experiences taught me the significance of research, financial prudence, and scalable planning in laying a robust foundation for a new business.
RE: What do you avoid when starting up or managing a business? - deucher - 01-26-2024
When I started my business, I didn't know a lot, so I just followed the advice of people I didn't know, who said that it was definitely better, so I know what I shouldn't do now. What worked for them does not mean that it works for you, so you need to listen to their advice, but draw your own conclusions.