There are several things that a first time business owner needs to avoid. One thing is that people ignore market risk, and that’s a mistake. ignoring market risk is the main reason that businesses fail. Another problem is when people take advice from the wrong people. People also often tend to ignore constructive criticism, which is a mistake. If it’s someone who has engaged deeply with your company, you should be willing to consider their feedback.
- First time business owners are normally very passionate about getting started however they make a lot of mistakes which could have been avoided.
- The biggest reason why company fail is that they ignore or downplay the market.
- There is no fool-proof formula for first-time founders to be successful however they can maximize their chances by avoiding some core major mistakes.
“Ignoring or downplaying market risk is the single biggest reason companies fail.”
Read more: https://www.entrepreneur.com/article/333806