15 Common Mistakes New Businesses Make Within Their First 2 Years

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Fifteen common mistakes are regarded as responsible for the collapse of majority of new businesses within the first two years of trading.

  1. Lack of capital 8. Credit or cashflow problems
  2. Lack of planning 9. Choosing the wrong employees
  3. Start-up costs too high 10. Stock mismanagement
  4. Over-optimism about market size 11. Excessive withdrawal
  5. No product or market strategy 12. Unplanned expansion
  6. Lack of expertise and experience 13. Bad pricing
  7. Wrong location 14. Poor customer care
  8. No Website and No Social Media Presence
  9. Choosing the wrong employees
  10. Start-up costs too high 10. Stock mismanagement
  11. Over-optimism about market size 11. Excessive withdrawal
  12. No product or market strategy 12. Unplanned expansion
  13. Lack of expertise and experience 13. Bad pricing
  14. Wrong location 14. Poor customer care
  15. No Website and No Social Media Presence

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