Biggest startup mistakes and how to avoid them - 1

folarin okunola

July 8, 2015 3:36 PM

Skipping research, ignoring the results or forecasting off of inaccurate data can quickly lead to failure.

Mistakes usually cut a startups life short especially at inception.

Skipping Research.

It’s easy to confuse a good idea for a good business. Ideas are a dime a dozen. What turns a great idea into a great business is execution, and a fundamental stage of execution is market research.

Skipping research, ignoring the results or forecasting off of inaccurate data can quickly lead to failure. There’s wide scope for mistakes.

You may have a great idea but the market may not be quite ready. Or maybe your idea isn’t as original as you thought. The courage to pivot and evolve your idea as market conditions evolve is endemic of execution.

Don’t think an idea is all you need to build a viable business. And if you do, at least test that assertion with robust and independent research.

folarin okunola