Freddie Andalaft – Most common mistakes first time entrepreneurs make

Freddie Andalaft Most common mistakes first time entrepreneurs make

Freddie Andalaft Freddie Andalaft is a businessman from South Africa, who has handled many successful businesses. Here Freddie is sharing about some common mistakes made by the entrepreneurs.

1. Going it alone – It’s difficult to build a scalable business if you’re individually handling it. You should make sure that you have enough margins in your pricing to bring in other people.

Freddie Andalaft 2. Asking too many people for advice – It’s always good to get input from experts, especially from experienced entrepreneurs but getting too many people’s opinions can delay your decision.

3. Hiring Expensive Human Resource for Small tasks – Small Business generally hire expensive human resource for the small tasks like website chat , digital marketing , online reputation management etc. instead of this they can hire remote human resource to cut cost and gain competitive advantage .

Freddie Andalaft 4. Spending too much time on product development, not on sales – It is true that it’s hard to build a great company without a great product, but the entrepreneurs who spend too much time to improve something may lose customers to a competitor with a stronger sales organization.

5. Targeting too small market – It’s good to target a specific audience or niche, but your company’s growth will quickly hit a wall if the market you’re targeting is too small audience.

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