When starting a Business as a mum, there is tons of room for error. The world has seen so many startups fail because of small mistakes. We are here to help you with growing your startup and let the mistakes be left in the dust!
We do think, though, that it is a good idea to know what the mistakes are, that way you can work hard to avoid them as you are Growing your start up! So, what are some of these startup killers? Let’s find out.
1. Doing everything alone
We know that it is sometimes easier to work alone and be independent. The problem with that is that you are only one person. The work piles up and gets overwhelming. And also, since you are only one person, it makes it harder for you to see things from all perspectives.
If you work alone too much you may be closing yourself off to growth and development. This can hinder your startup from being successful in the long run! You want to be open to other perspectives and to the diversity that comes along with working with others.
2. Hiring the wrong people
If you are curious where to get a background check, you should research online screening services. You can see all the different checks they are able to run, and pick the best one for you to have a more successful hiring process. It will help you to pick the best options for you and what you require.
If you have a business that handles a lot of petty cash, you would probably highly benefit from running a criminal background check. Giving someone a company car? Well, we think it would be best to give that to someone with a clean DMV record. By running background checks, you can make sure you aren’t hiring the wrong people.
3. Putting all your eggs in one basket
Though it is amazing to hear when someone is all in and their passion for one thing is unstoppable, that can also be detrimental to their overall success and well-being. You don’t want to put all your eggs (or money and resources) in one basket if you can help it. By keeping things broad and open, you are opening yourself up for more success, instead of closing yourself off to opportunities.
4. Not having enough money
Unfortunately, the world revolves around money. And if you don’t have enough of it, your business won’t last long. We recommend making sure that before you start growing your startup, you have enough money to do so.
What funds are involved with hiring more people, adding new products, or opening a new location? As you grow your business, you must think about each individual cost and make sure that you actually have enough for it.
5. Expanding too quickly
Something that comes along with having the proper funds is expanding the business. We want you to avoid expanding too quickly, though. That can be the final nail in the coffin when it comes to a startup.
While growing a business is a great move to make, it can also be the last move you make. You have to confirm with all parties that the business can handle the expansion before you make any sort of lasting decisions related to growing your startup.
6. Not using social media
Did you know that you can use social media to be more successful? Well, now you do! It can help you accomplish so many things, like drawing in the right people to your business, connecting with clients, and creating partnerships. Everyone has their phone on them at all times anyway, so you might as well use that to your advantage. Create business accounts and make sure you are using them to connect with the world.
As we mentioned before, it is easy to fall into the traps of these mistakes when growing a startup. But with your due diligence, you are bound to escape them and find success for your startup!
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