Things to Avoid While Starting a Business

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So you finally got that golden dream of yours to start your own business. Everything's set in place, but you feel something's going up sooner or later. So to protect yourself from potential pitfalls and desperate actions, here are some things you have to avoid when starting a business.

Generally, there are 6 aversions to take notice of when starting a business, according to logomyway.com: getting rich quick, staffing, business plan, branding and marketing, autorun, and giving up.

Getting rich quick is a common problem for entrepreneurs, especially for the younger generation who so desperately need cash they’d do anything (read: anything) at all to get money. Getting rich quick isn’t a good route for a business, as business is a fickle thing to do. It must be nurtured and cared for. It must be grown akin to a plant, watered everyday and loved perennially. After all, all the hard work you’ve invested in the business could be altogether thrown out when you want that quick road. You’ll just wallow in self-pity should that go on.

Staffing is another tricky issue. There is that saying “It’s just business”. It’s got to be followed as correctly as possible. Just because your sister doesn’t have a job doesn’t really mean that you can warrant her entry into the business. You have to ask her to prove to you and to your employees that she is capable of it. Either do that or be accused of nepotism. That would deal a huge blow to your company if people would start talking things like that.

Branding and marketing are equally important tasks in the business. Just because your business is new doesn’t mean your logos and marketing campaigns should be cheap. In fact, just when your company is about to start, hire a professional graphic designer or find someone and pay him good money to give you a quality logo. Your marketing strategy must be in tune with the current trends. Since you’re just starting, just go with the flow at first then you blow up and expose your company to the highest level. Your marketing campaign may change but your branding doesn’t.

Autorun: A common misconception for starter businessmen is that businesses are autorun. That is a huge misconception that makes people lose their hope when their business is not working. You have to be at the top all the time.

Giving up is the worst thing to do. Remember, you dragged a lot of people in this. Think of your employees. Think of your investment. Don’t see it all wash away. Just don’t think of giving up.

8 Comments

  • 1. anurag mathey said on 1/21/2012 5:12:08 PM
    hi sir, i'm anurag mathey from kalpi near of kanpur. my father have textile weaving business and i'm also a yarn dyeing engineer. sir plz suggest me to run my new business in kalpi
  • 2. Tanaji Sutar said on 11/11/2012 10:03:37 AM
    jaysingpur distt kolhapur maharashtra state india. I am textile engineer & worked in spinning since 1988 on various post vis supervisor to M.D. I know various seniors they told it is not viable at present, but i have a dream to start at least 5000 spindle at earliest please suggest me what should i do at start?
  • 3. M. Anand Kumar said on 12/27/2012 1:32:51 PM
    Sir good evening, I am M. AnandKumar I want to start a e-paper daily on Internet, kindly give guidance and formalities.
  • 4. bala said on 2/25/2013 8:35:41 AM
    i like to start spinning mill of budget within 2 crore . it is possible or not in coimbatore region.
  • 5. Rajesh said on 6/26/2013 5:45:28 AM
    I have stared Cotton gining in rachur, how to extend further?
  • 6. chandra sekhar said on 8/26/2013 1:13:22 PM
    I would like to take the fabric from textile company and make stitch from home for commission base is there any options there. I is there let me inform.
  • 7. rupesh said on 9/19/2013 9:49:07 AM
    I want to start business in around rs 500000 plz suggest me some ideas. I am from kashipur uttarakhand
  • 8. simphiwe said on 6/25/2015 2:45:19 PM
    south africa. mpumalanga. witbank. 1040
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