According to Forbes, 90% of all startups fail. Many businesses fail to make a profit within the first two years, and business owners are forced to shut down and go back to their day jobs. If you are going to start a business of your own, you need to be prepared for obstacles that will be in your way. These are 30 of the most common mistakes made by startups.
30. Skipping Your Business Plan
A lot of new entrepreneurs think that it is okay for them to skip creating a written business plan. They have a grand vision of what they want to do, and where they want the business to go. However, writing or typing things down in black and white will make things far more concrete. The point of a business plan is also to lay out your goals from year to year. By giving yourself concrete goals, you know if you are staying on track or not. As the years go on, you can go back and revisit your original business plan to see if you are making the progress you had originally hoped for.