- Lack of proper planning: Failing to create a solid business plan is a common mistake.
- Insufficient market research: Many entrepreneurs jump into a business without thoroughly understanding their target market.
- Underestimating costs: It’s essential to accurately estimate the costs involved in starting and running a business.
- Ignoring the importance of marketing: Building a great product or service is not enough. Neglecting marketing efforts can result in a lack of visibility and customer awareness.
- Trying to do everything alone: Many entrepreneurs fall into the trap of trying to handle every aspect of their business by themselves.
- Not protecting your intellectual property: Be sure to register your IP with the USPTO.
