If you want to survive and succeed in doing Business. You should first be aware of common mistakes and pitfalls that can ruin your best business plan.
– Choosing the wrong business
Starting a business and determining what business will be run is difficult. But do not be careless or just go along with the business. Your business will be difficult to succeed if you choose a business that you do not know, have no passion, or in a field you do not like. There will be many risks that you will face, perhaps from your competitors. And your business will not have a chance to succeed.
– Lack of Vision
Not having a clear and short-term vision for your business is a recipe for failure. What you want to accomplish must be clear from the business. Without vision, your business can not grow.
– Wrong in setting the price
If your price is too high, customers will not buy from you. if your price is too low you will lose. Make sure you take everything into account before you decide on your pricing strategy. calculate all your costs and determine how the price will affect bottom-line.