startup

5 Common Mistakes in Starting a Business

Being self-employed is the dream of many. But as one self-employed person quipped, “I used to work for a boss; now I work for a tyrant.” Or, as another put it, “When you’re self-employed, you’re the first one hired and the last one fired.” That’s true, but you may also be the last one to get paid.

Undaunted, people launch themselves in various self-employment projects. But having found themselves on the self-employed merry-go-round, many find the journey tough going. This can lead to early retirement from self-employment and a loss of confidence in entrepreneur activity.

The mistakes many make, however, are readily overcome with a little planning and thought.

Here are five of the common mistakes made by startup businesses.

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