Neglecting Marketing
It means continuing in any project and startup without having a complete marketing plan complementing specific tasks, responsibilities, and all the things that are required.
Wrong Pricing
The process of pricing a product or service which does not take into account the difference between the cost of the product and cost of sale, which is the cost of selling the product.
Ignoring the Feasibility Study
There must be a detailed study that includes financial, economic, technical study, and marketing study, and highlights the importance of an economic feasibility study in preparing it according to the current market data through surveys, where competitors and current prices in the market and tools are studied. It also includes knowing all the details of the project.
Also read: Economic Feasibility Study for Small Projects
The Legitimate Capital
It is the possibility of opening a project and an emerging company without the presence of the capital, the actual amount required is at least five times to face unexpected risks and problems. Therefore, the presence of financing methods that guarantee the continuation of the project is the most important factor for your project before starting it.
Also read: The Most Important Basic Channels for Digital Marketing
Lack of Compatibility between Partners
It may work to separate them from the project and this works on the failure of the company in the beginning because projects are based on compatibility between the partners, so compatibility is an important reason, it does not mean if we are friends that we can be business partners, because commercial project partners need to agree on the goals and on the difference in the methodology of implementation, so you should choose your business partners without relying on feelings and emotions.
Also read: How to Gain a Competitive Advantage in the Markets
Business Model
If you are the owner of the company, you should see the business model and get to know more about it because it is useful for you in planning for the future and profitability as well and filling all the fields in it to excel in your business.
Randomness and Lack of Training
You must prepare, train, and organize things during which you speak with the team and organize your papers and work files and build the project stages in the form of tasks and steps and create a project plan.
Also read: 10 Tips for Spending Professional Training
Boredom and Laziness
Do not despair at the beginning of the road to success, fraught with problems, crises, difficulties, and wars, so be prepared and be sure that everyone who works is successful.