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3 Common Mistakes Made by New Entrepreneurs and Startups

22 September, 2016

Learn some of the Common Mistakes that Startups and First Time Entrepreneurs make and How can you Avoid them.

When as an entrepreneur you start a new business, it is very obvious that you will commit certain mistakes. 

If you see in general, you will find that almost maximum of the startups make similar mistakes. 

Reason is, some are from technical background and hardly understand the concept and importance of marketing, some lack interest, some are unable to manage things and go with the principles and likewise.

Common and basic Mistakes that Startups and First time Entrepreneurs make
Common Mistakes that Most Startups and New Entrepreneurs Make
So, in this article we are going to point out some of the common mistakes that any startups make. 15 Reasons why Startups Fail and What we can Learn From it ]

Let us have a look below:-


1. Overlooking Content Marketing

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Content marketing is crucial to up the sales game for any business. Its role is not confined to this rather content marketing also proved its importance in establishing brands as well.


Often it is seen that the leaders from technical backgrounds or say CEOs for that matter here, tend to overlook the need of content marketing as they hardly are able to understand the benefits it contain. 

Now this is what you do not have to do. If you want to enjoy and maintain the success of your business, it is needed that you must not avoid the role of content marketing. It is your content that grabs the attention of the audience, informs & educate them about your business, brand, product & services. 

When told a story that is captivating and which relates to psyche of the readers, they tend to get excited about your brand and establish long term connection with you. As much as creating interesting stories around your brand is important, effectively marketing them is also necessary so as to provoke your target audience to read/see it. Use all the tactics to drive traffic to site through your content. 

Post links on your social channels and also link back to your landing page so that audience from all the platforms gets attracted towards it. Learn other content marketing techniques and make use of them in your startup so as to build the position of your brand.

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2. Not Realizing The Importance of ORM & Ignoring the comments around your brand




Another mistake that is made by the startups is that of avoiding ORM which means online reputation management. Although it is quite understandable that it is due the reason that ORM systems & software may seem to look expensive initially. 

But overlooking this extremely important zone may cause a lot of harm in the later stages of the business.

Today with internet & social media, people especially millennial and Gen-z leave no chance to destroy the brand with their critical review on social media and other platforms. Various startups like Ola, Uber and Paytm have experienced this scorning reviews online by their users. 

What is important to build the image of your brand is to get right customer reviews by paying attention to your online presence, establishing good relationship with the customers and investing in online reputation management. 

Never ignore the customers feedback in the form of reviews. Instead take it as a source of learning & improve. This will help you grow your business fast.



3. Not Able to track and measure results and success



Many startups give up early because they are neither able to manage the success nor the failure of their marketing efforts. Reason being they are not tracking & measuring  the results of their efforts which is a much needed thing to be done in a business. 


Setting benchmarks and then measuring the results against it paves way for the improvement. It lets you analyze how effective your efforts have been and where things are lacking. Keeping track on the progress of your business is imperative. 

You get vital information about what's happening in your business and help you makes changes in your strategies which can be good for business growth. Not tracking results will only get your business into worst of situations. 

It will just be a total wastage of your efforts. You must have a proper strategy to track the performance & results of your email marketing, social media and other other campaigns. To up their marketing game, it is needed that these startups must be focused and monitor each everything that forms a part of marketing.

2 comments

  1. This well-written blog is worth reading, especially for the new or aspiring entrepreneurs. You have beautifully highlighted the common mistakes which most of the start-ups tend to make.

    ReplyDelete
    Replies
    1. Thanks for the pleasant words. We always try our level best to be as informative as possible. This is a very important issue to be addressed to the new entrepreneurs as they come with lots of prejudices in their minds!

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