The Blog

The digital world changes constantly and this causes many entrepreneurs to lose sight of the original idea to follow the contemporary trends and technologies.

Starting a business from scratch is a challenge that many young entrepreneurs are joining, however, this emerging business model can be complicated and, in many cases, lead to failure. A vision of the future, speed of production and exceptional execution is the secret of success. Start-ups are as good as the people who make it up and it should always be clear that the client defines the company’s direction and not the other way around.

Here at Nudge Accounting you can outsource bookkeeping and accounting services so true professionals in the area can take care of it. Contact us today and reduce the margin of error in your activities.

Today we will review some of the most common mistakes new companies commit so you can avoid them:

Losing Sight of The Goal

The digital world changes constantly and this causes many entrepreneurs to lose sight of the original idea to follow the contemporary trends and technologies. This ends up changing the business model, forgetting the target user and forcing a new business vision. For the same reason, the ecosystem of start-ups is full of corpses of interesting business ideas that could not get money to pay their payroll.

Bad Executions

The smaller the start-up, the more critical it becomes that all of it moves as a single block to meet organisational objectives and ensure their survival.

If good ideas are scarce, the excellent executions are even more so. The start-ups have limited financial resources and are forced to choose the few projects that generate the greatest impact, so the execution must be impeccable. A bad execution of a project can mean the end of the organisation.

Money Funding

We always hear success stories where big start-ups got major capital funding and are constantly growing. And although it is true that investments are needed for the growth of a company, there must first be a product and a successful business model.

Going slower is not bad as long as constant progress is being made. You do not have to look for results if you are already seeing them, for that reason you should not look for an expansion that is not necessary or that the business model is not ready to sustain.


Bad Hiring

Bad hiring not only consumes financial resources, it affects the mood of the organisation and has a negative impact on the company’s results. Due to budget constraints and the need for growth to ensure supervenience, start-ups should look for people who reflect the values, purpose and leadership of the company.

Steve Jobs once said that the first ten employees of a start-up define their success, so the process of hiring a company is critical to long-term success.

Not Delegating Tasks and Processes

Centralising decision making makes the companies’ reaction speed decrease and, in a world, where the changes are vertiginous, keeping up to date can be decisive. Delegating tasks to other members of the organisation is one of the main conflicts faced by the founding members of a start-up, who are tempted to do the work themselves (or do micromanaging) and ultimately destroy the company’s productivity.

Being Superficial

In a world of 140 characters, many of us build products quickly looking for easy money. The focus is more on “building and selling fast” than on the quality or originality of the products or services. Many entrepreneurs, especially novices, fall into the trap of superficiality.

These are the entrepreneurs who refuse to improve their skills, who send products in poor condition and offer a terrible user experience. With these conditions, it is easy to understand why there are start-ups that do not see sunlight. What is the solution?

  • Commit to your clients. Your start-up exists to serve your customers. Commit to pleasing them through your product.
  • Attention to detail that borders on obsession. Before building or shipping any product, check every little detail very carefully. Do not settle. Do not let your team rest until you have a project that is above your expectations of quality.
  • Constant Learning. Knowledge is the antidote to superficiality. Keep learning so that you can satisfy your customers with an inexhaustible value … Thus, you will become the reference with greater credibility in the industry.

In the end, getting rid of the habit of superficiality requires a change in your mentality. You can get rid of this with constant practice and obsessing with quality. This means focusing on doing something very well before moving on to the next product.

Not Pursuing Two Rabbits at A Time

What you need as an entrepreneur is credibility, not money. And the only way to become that trustworthy person is by focusing on refining and improving your skills, your product and what you offer. Only then will you get your customers to talk about you as the best provider of that service or product.

Ignoring Small Details

The new entrepreneurs do not worry about a misplaced comma on their website. A broken link on your Facebook page is not something serious. The reality is that there are no trivial details. These are serious problems. Remember that all problems are small before they become uncontrollable situations.

For things like this, Friendster was not successful. It was the most popular social network in 2003 and Google wanted to buy it for 30 million dollars. But it lost its momentum in 2006 due to “unimportant” technical problems, opening the way for Facebook to revolutionise the industry.

That little misplaced comma on your website can turn into a tsunami of credibility problems. A spelling error can make you look like a fake or unreliable company. Protect your brand Solve the minute details. Correct them … fast.

Do not ignore the details because they can become serious problems. Solve them from the beginning so they do not destroy your company. We all make mistakes, even the most experienced entrepreneurs, but learning how to solve these 3 can save your little start-up from the start.

If you want to have financial information organised in a way that it is easier for you to make the right decision in the right moment, here at Nudge Accounting you will find that service.