What mistakes did you make when starting your business?
I have started, owned and closed several businesses. Here are some of the mistakes I have learned, in a hard way:
1. Doing business with friends: Believe me, if you are to open business, hire someone to work for you, not your friends to work with you. In the worst case, you loose your business, and your friend.
2. Enjoying the ride: If your business is making profit, try to bring that profit to 70/30: 70 back to the investment and 30% for saving. After you get back all of your investment, you can enjoy your profit. I enjoyed the profit too soon, which lead to the lack of capital for further investment in later stages.
3. Passion: Whatever you are doing, be passionate and always ask yourself what do you want to build and WHY. I lost the passion in two businesses, which resulted in a close down and loss of revenue.
Those are my most significant lessons in doing businesses.
Hi @attoan.cmt!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 2.042 which ranks you at #24123 across all Steem accounts.
Your rank has improved 550 places in the last three days (old rank 24673).
In our last Algorithmic Curation Round, consisting of 275 contributions, your post is ranked at #265.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server