Here are seven most common mistakes made by beginners and some suggestions for avoiding these errors from Joana L. Krotz, author of Microsoft Small Business Kit:
1. Do not have maps
Besides passion, you also need a plan for your business. Take time to investigate the market and target customers, competition, and other things. Focus yourself to answer the question: “How do you generate revenue from this business?”
2. Selling below market price
Before set the price, perform calculations. Calculate the fixed expenses and expenditures at any time. Perform market research and competitor price value.
3. Starting a business just for fun
The purpose for doing business is to makemoney. Do not try to take risks just to have fun. You are endangering the whole company and the people in it.
4. Not understanding marketing
The purpose for doing business is to makemoney. Starter businesses usually hire salesman first. Ideally, first you have to hire people who can help plan and organize the project moves ahead, later you can send the sales to sell.