What’s the biggest mistake you’ve made in your business?

Question

Andrew C. · Accepted Answer

tried to save money by trying to do it all myself in the beginning

Nathan Covey · Answer

In my last startup it was having the wrong co-founders

Answer

Not having a clear business plan and goals led to confusion and wasted resources. Having a solid plan from the start would have provided better direction.

Answer

Relying too heavily on a single client or revenue source created risk, as losing that client had a big impact on the business. Diversifying income sources is important.

Answer

Underestimating the importance of marketing led to poor visibility and slow growth. Investing in effective marketing strategies is essential for reaching a wide audience.

Answer

Ignoring customers feedback and not adapting the product to their needs resulted in missed opportunities and customer dissatisfaction. Listening to customers can improve the business.

Answer

I initially focused too much on product development and not enough on building and supporting my team.

Answer

There was a period when internal communication broke down, leading to misaligned goals and confusion. This taught me the critical importance of clear and consistent communication within the team.

Answer

I once overlooked early customer feedback, which led to missed opportunities for improvement.

Greffin Dony · Answer

Not researching the market thoroughly before launching the product was a major mistake, leading to low customer interest and poor sales.

Answer

Failing to managing cash flow properly caused financial problems and limited growth opportunities. Keeping a close eye on finances is crucial. 💸

Miyene Tom · Answer

not giving it the visibility it deserved..

What’s the biggest mistake you’ve made in your business?

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