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10 startup mistakes

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10 startup mistakes

Achieving success does not depend only on work and perseverance. Know what to avoid when creating your business!
I work at the OgilvyOne accelerator and I love working with startups , each one is different. A few days ago, I was struck by a headline in the newspaper Expansión that proclaimed Barcelona as a new Silicon Valley .

It is true, the city has a large South Africa Phone Number List of technological and innovative projects, as well as large incubators and accelerators that support them. Thanks to the work of these agents and the support of the public and private sector, startups such as Tuenti, Privalia, Groupalia, Infojobs or Wallapop are now large and promising companies.

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But to achieve success not only requires a lot of work and perseverance. Also, try to avoid making mistakes like these:

1. DO NOT INVESTIGATE THE MARKET BEFORE LAUNCHING THE PROJECT
The idea may be very good, but the market may not yet be ready to fit the service or product into its day-to-day life. It is essential to carry out a quantitative and / or qualitative investigation beforehand . You can Betting Email List  data from studies already carried out and do not forget the importance of analyzing Internet search trends , with tools such as Google Trends .

2. FALLING LOSTLY IN LOVE WITH THE PRODUCT OR SERVICE
Do not lose objectivity. An idea can always be improved and has to be validated with the opinion of others or with studies. Remember that many other components are required for a great idea to stop being just that.

3. CHOOSE THE WRONG PLACE
If studies and research do not reaffirm your ideas or hypotheses, it does not mean that the idea cannot be successful. Perhaps the wrong place to launch the project! Studies from different countries must be compared and the idea of ​​launching the project in another location must be validated .

4. DON’T THINK BIG
From the moment you choose the name, domain, channels and partners, you have to think that the company will go far. Therefore, all decisions made a priori should not hinder the possibility of scaling the business model in any other country or market.

5. BE AFRAID TO ACCEPT OTHERS TO BE PART OF THE TEAM
When someone comes up with a project, they are very reluctant to share it with other people for fear that they will steal the “idea”. But be careful! It must be borne in mind that a project will hardly be successful without the help of other people .

6. ADJUST TO THE BUSINESS PLAN
That great Excel is nothing more than a help to organize the budget , to see which items require the most investment and which will be the ones that can return the most. If you have to change or add figures during the process, it is not a crime and the success of the startup will absolutely depend on that.

7. EXHAUST RESOURCES TOO QUICKLY
Any decision made lightly can drain financial resources, force you to stop the activity and leave you with no possibility of maneuver. The hiring of employees, office and other expenses must be assumed at the right time and once the product is validated in the market.

8. LISTEN TO “EVERYONE”
A product or service will not always be perceived the same by everyone, and everyone will have their own opinion or suggestion. It is important to assess which changes are worthwhile and which are outside the company’s goals.

9. NOT BEING CLEAR OF THE VALUE PROPOSAL
Being clear about what differentiates you , that gives emotional and functional value to what you are offering is crucial to guarantee success.

10. NOT KNOWING TO SIMPLIFY
Lego Serious Play 10 startup mistakesAlthough not taught in universities or incubators, simplifying ideas and processes can make a difference in the results of a company.
This work helps to clarify key concepts that will make everyone know exactly who they are, where they are going and what they need to get there. I recommend the Design Thinking and Lego Serious Play processes to work on this concept.

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