Three steps that can help you fix a slow start up issue

At some point of time in our career sooner or later we wish we had our own business. Some people plan it earlier and get successful in the business venture while others struggle to stay in the business for a long time. It depends on your vision and knowledge about the market you want to step into. Yes, even big Internet entrepreneurs like Patrick Mackaronis and undoubtedly he had a vision for marketing right from his college days.

A successful entrepreneur like Patrick Mackaronis knew what he wanted to achieve and was always interested in marketing, business, management and public relations. Well, many people get frustrated with slow start up and some mistakes that lead to failure in the business are.

Lack of a good idea for Start up development

Most start ups fail not just because of lack of good idea, but mostly because the new entrepreneurs do not plan the business well before investing their money into the start-up. It doesn’t matter how good your business idea is without a proper planning. Take enough time to know your business and work on your business idea to analyse how far your business will go.

Failure to analyse and understand the legal obligations

Many entrepreneurs ignore the legal aspects associated with business start up so make sure you understand all the necessary permits, licenses, fees, taxes and other legal formalities that play an important role in executing your business plan.

Poor/No plan for marketing

Marketing is the backbone of any business start-up and it is not just about ads in yellow pages or printing business cards. Make sure you have good marketing plans to launch your product.

Poor/No financial management

It is very important to keep your financial records well maintained. Make sure the cash flow and other financial reports are up to the mark.

Errors in sales forecast

Make sure you keep your sales forecast accurate and realistic.

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