Industry Analysis through 40 Questions (part 2)
Competitors and Competitive Industry Analysis 22. How many competitors in this industry? Analyze your piece of the market, i.e. those with whom you are really competing. But be aware of…

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Common Small Business Mistakes
The topic of today's material is small business mistakes. A couple of days ago, I began to think, and what are most often mistaken? I mean us - small entrepreneurs.…

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What a business depends on - 5 digits that an entrepreneur must know (part 2)
5. Lifetime value of the client / Cost of attracting one client This indicator will allow you to understand how much you will get back from each invested ruble. In…

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Mistakes of novice entrepreneurs – 10 most dangerous (part 1)

The mistakes of start-up entrepreneurs are a real part of starting your own business. And you can’t get away from it, dear entrepreneurs, beginners and not really :-). Mistakes are an experience that is absolutely necessary on the path to success. All aspiring entrepreneurs make mistakes, and you will not be an exception. But this is not a reason to worry and, moreover, not to start a business. The simple question is whether you can learn from them.

Starting your own business is the most vulnerable period of doing business for many reasons. Accordingly, the mistakes of entrepreneurs are found here most often. And almost all are related to one of the following three aspects:

Lack of time.
In this article I will try to warn you against some, in my opinion, quite frequent mistakes of beginning entrepreneurs. Although I am sure that, despite this, many of you will still make them (not all 10, of course, but some of them). But let’s still list some of the mistakes of new entrepreneurs. In my opinion, of those generally applicable in all areas of business, these are the most dangerous.
Mistakes of novice entrepreneurs – version of Entrepreneur-Pro

Mistake # 1: business does not solve the real problem of the audience
The first mistake a novice entrepreneur can make is to start a business with an idea that does not solve the real problem of potential consumers. Do not start a business because YOU like your idea. It should appeal to the audience, your potential buyers and customers, not you.

Mistake # 2: starting without market research
The second mistake is the start of a business without market research. In a sense, this is the forerunner of the first error. You need to know how and to whom you will sell (i.e. determine your target audience), who your competitors are, what their strengths and weaknesses are, what you can surpass them in, what are the real needs of potential customers, etc. Only then It’s worth starting your own business.

I do not want to say that you should order market research for a couple of thousand dollars from analysts and specialists. Just try to collect the maximum information from available sources – there are a lot of them today.

Mistake number 3: the entrepreneur starts with zero knowledge
Starting a business without any knowledge in this area. This does not mean that you should be a super specialist in the selected industry, but you should have some ideas. I don’t understand anything at all, but start a business, because “many have succeeded in this area”, for example, it’s not entirely reasonable (or even completely unreasonable).

Therefore, try to start a business where at least something is understood. Just so it will be easier for you to control and develop it. But once again I repeat, it is not necessary to be a cool specialist. If you are not a professional photographer, for example, this does not mean that you cannot open a photo studio. But also do not open a business, for example, for the production of radio parts, having no idea what it is.

Mistake # 4: there is no interest in this business niche
There is no interest in this area and, accordingly, less interest in their own business. I am not saying that your business should be direct your dream, although this is good. But not always that way. But you should still have an interest in the field in which you conduct business. Otherwise, it will be difficult for you to develop it, just get tired. If, in principle, you are not interested in football, for example, do not open a football school….

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Factors Affecting Business Development
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