According to the U.S. Bureau of Labor Statistics, 2 out of 10 businesses fail in their first year. While that statistic is not encouraging, entrepreneurs can find success with their venture if they avoid common startup mistakes. Here are six common mistakes new business owners make and how to avoid making them in your venture.
Not doing enough market research
Thorough market research is the best way to learn about who your potential customers are, what they need and want, and how to best sell to them. While this may seem like a foundational step when starting a business, not every startup team spends enough time understanding their target market before launching, said Ryan Carrigan, CEO and Founder of moveBuddha.
