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3 Mistakes to Avoid When Starting a Business

Starting a business has become easier than ever, however running it is the biggest challenge many entrepreneurs face. Many give up and go back to square one. Others struggle and sometimes they make it big.

If you are a start-up, make sure you are not making these 3 big mistakes. 

Getting Distracted

Do not get distracted. Make a plan and stick to it. Monitor your day-to-day activities and find out ways to make your days more productive. A start-up will require more and attention, so stay focused.

Expecting Success in the Beginning

Success is the fruit of your efforts. The more you wait, the better. Never start a business thinking you will achieve success overnight. Many entrepreneurs expect the same and then they end up being disappointed. Wait for a few months before you can expect any ROI.

High Price Tags

For market penetration and to get people to try your product/service, it is important that you keep your prices reasonable. If you put high prices in the beginning, customers will be reluctant to buy and move away from your business. What you can do is start with a low price and then gradually increase the prices based on the customer’s feedback.