Tag Archives: cash flow

3 Financial Mistakes Entrepreneurs Make

#WrittenInThePastPublishedNow

  1. Investing a lot in creating a new product

I have made this mistake many times, i.e. overly investing a lot of money in the development of new a product at once. Obviously ‘a lot’ is relative. My ‘lot’ can be less to yours.

The danger with this is, if the product doesn’t work, the loss is greater.

When developing a new product, entrepreneurs should strive for ways to do it in tiny bits and not expose all of their capital, and thus allowing them a safe feasibility test.

Great brand components

It all starts with an idea to create a product; then making the product. The second stage is selling that product (sales and marketing). This is where most businesses have it hard. It is a very important and crucial stage; a stage at which you have an opportunity to connect your product with society.

Here are the components that make a great product

  1. Honest product

As said above; it begins with an idea for a product; to making that product.  That’s how everything starts. Be proud of your ideas.