Richard Branson: Avoid Common Startup Mistakes

Are the mistakes most commonly made ​​by new entrepreneurs in their startup is still whole corn? Sir Richard Branson has his own answer to the prism of his experiences in business since his teens.

Making mistakes is part of the process of building a strong and profitable company. What is more important than it all, Branson said, is how entrepreneurs can bounce back from the ground. It all became part of the serpentine journey of an entrepreneur who will need stamina, determination and spirit of untold magnitude.

However, an entrepreneur route to the summit instead of the unpredictable: when you find opportunities on the horizon that had never found someone else, there are many ways to transform your vision become reality. You must formulate an innovative bisnia plan, find sources of capital, hire the right people in the startup business plan to realize, and slowly back away from your role in the business world at the right time.

The first step is to keep an eye on the target. One mistake that is often associated with the first step is characterized by the inability of entrepreneurs to convey ideas in a clear, concise and solid. You should be able to 'win' investors, partners and potential employees are confident with your business idea, so perfected elevator pitch (short presentation on startup) you. Try to use words that are not more than 140 characters and then expand it to 500 characters. Shorter presentation, the more intelligent he impressed for others.

You also have to maintain focus when starting. Entrepreneurs need to redirect its efforts instead of in all directions, but to the right target with the right steps and strategies as well.

The second step is to be realistic about the cost. Do not be too wasteful if the estimated amount of expenditures that you need for your startup. You will only kill your own business. Control your spending but do not mistake it with capitalization.

The third step is to hire someone who you need, not what you personally like. Many entrepreneurs may be tempted to hire workers who have blood ties or friendship. But this is actually a serious mistake. If they do no justice to work as expected, it is difficult to dismiss.

The fourth step is that you need to know the right time to say goodbye. Entrepreneur should know the right time to hand over the reins of leadership to others who are competent. Not easy to do but it is still to be done: some entrepreneurs are able to work as a good manager. In the case of Branson himself, manages the daily operations of a business instead of the things he did as good as anyone else.