1. Lack of knowledge about law and juridical issues
Almost failed business owners enhance this mistake when begin to do business. They do not have enough knowledge of law as well as juridical issues, short of updating changes of this factor. Therefore, company cannot exist in a long time due to legal matters. Consequently, your company will be dissolved soon
2. Attentively pay attention to produce new products rather than advertise products
Creating new products is an important job but should be done in the suitable time. You need to focus on advertising existing products so that the reputation and image of company is known. When receiving good signal from customers, it is time to research new products. Enterprises must invest in sale to exist
3. Define the price so high or so low
If companies define price so low, they can lose customer’s belief .Sometime catching legal troubles. On the other hand, with so high price, it will be hard for customers to afford. Therefore, consider carefully all of factors before deciding the price to have right decision
4. Research the marketplace still not carefully
This is an important job before running a business. If enterprises have a carelessness in this action, it will be difficult for all of plans later .This also can lead to wrong decisions, restrictive vision about potential customers, competitors …From all, researching marketplace cannot be done superficially.
5. Focus so much on the profit of company, not the customer’s satisfactory
Some companies have strategies just focus on how to maximize the profit regardless customer’s benefits. It is a serious mistake that can make company easy to break up. Since the most important factor for a company to exist and develop is the reputation, which also is the customer’s belief. If enterprises try to do in this way, they just can get profit in a short term. Clearly, it is not wise thought
6. Choose the partner randomly, not have a selection
When choosing partners to corporate, having a general view. This is for business, not in normal relationship. Therefore, it cannot be chosen randomly as someone you like to talk or someone you close with. Partners need to have some certain skills and knowledge in business so that he/she can together with you discuss problems. Otherwise, you will waste so much money and time for helpless things
7. Not have plans of finance, excessive spending
Finance is the foundation for company’s operation. Thus, having detailed plans for each of spending activity is necessary. It is very common to see that many enterprises spend so much in its prosperous period. Leaders need to have saving policies for bad unpredictably problems that can happen anytime.
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