5 Temptations Start-up Tech Entrepreneurs Should Avoid

 Being a startup entrepreneur entails taking risks and learning from experiences as you grow. More often than not, startups are very rich in unending ideas and have immense business potentials. However, in a report by the Huffpost, not every idea is worth pursuing, even though your gut may say otherwise.  The report outlines five common and disastrous temptations tech entrepreneurs must avoid. However, the report cautions that these temptations are exceptional examples of instances where it might be better to be a bit more conservative in business.

1.     

•  Launching too soon: It can be very tempting to go live once you have a new product or service that you think will be beneficial to your target market. However, before you rush into launching your idea, make sure it has been tested; taking note of its pros and cons. Embark on extensive research into your field, identifying possible obstacles, challenges, competition and trends. Make sure that your product has all it takes to thrive and push through already existing businesses.

• Counting on high sales: It is very easy to think up an idea and make sales projections without doing your homework. Before you get all high and eager, endeavour to check the accuracy of your projections. Don’t count on anything until you have realistic metrics to anticipate it.

• Expanding fast: Every startup wants to hit it big as soon as possible. You probably have big plans for the future of your company, but don’t get wrapped up in all of them at once; else you’ll end up distracted and stretch the limits of your resources.. Even if you have a quick growing customer base, you will struggle with having the abilities and resources to support them. Take it one step at a time, making sure to pay attention to every detail as your company makes progress

•  Holding on too long: If your idea isn’t panning out, it’s either you change it or get rid of it. Stubbornly holding on to an idea after it has demonstrated its ineffectiveness is a waste of your time and could compromise your reputation.

• Mimicking others: It makes sense to analyze the procedures, designs and content of others and use it as a template to achieve similar results for your start up, but it is best to go your own way. Uniqueness sells; learn from competitors but do not copy them.