Some of the Startup Mistakes – Raul Rios Conde

The following review will provide a number of examples that every entrepreneur should try to avoid when starting a venture. Some of the things below go in similar with going out of company. With this in mind, we highly encourage you to carefully follow these guidelines.

1) Having one founder. Startups should have more than one founder. The reason for this is credibility. Having at least two founders helps to diversify the work. It's also a good thing if the founders are from different backgrounds, so that each one of them has something different to add to the mix.

2) Wrong Location. Location is key If you are situated in the center of nowhere it will be very firm not only to draw talent, but also the investment that will help you to build and launch your company. If you have an amazing idea and plan on executing it the best way possible, try to move to a bigger city where there is more action happening.

3) Doing too many things at once. One of the biggest issues that startups have is trying to do too many things at once. This creates distractions and focuses less on the tasks that need to get done. Do not try to go big right away. Make something small and make it better than anyone else.

4) Hiring C- employees. On average it can take around 2 to 3 months to hire a person depending on your location. We advise you to be on the look 24/7 and never stop interviewing people. Talent is hard to find, but not impossible.

5) Launching too soon or too late. If a startup launches their project too soon, there could be a possibility that the product is not complete, and will not satisfy consumers. The main problem here is that if the project is not finished, it will completely turn off its users and as a consequence, people will not come back.

6) Raising more or less then the capital wanted Startups make this type of mistake all of the time. Make sure you have urbanized a detailed business plan that you are continually updating and following carefully. This business plan should be the company's guidelines when entering a round of financing.

7) Lack of budgets. When startups rise money they sometimes forget that money is very easy to burn. Even though you might feel like you have everything covered that will most likely not be the case. There are always unexpected expenses that come along the way. With this in mind, we highly encourage you to keep all the expenses as low as possible

8) Investors with lack of knowledge and expertise. Raising money is a tough battle. Dead money is the kind of investment that comes from a person who does not give an added value to the company. A good example of this would be startups that only bring in any of their friends or family members at an early stage.