There are so many things that could damage the chances for success of a startup or even drive them to bankruptcy & total closure.

1. Why Your Startup Might
Be In Danger Of Failing
(Part 2)

2. There are so many things that could damage
the chances for success of a startup or even
drive them to bankruptcy & total closure

3. Employee’s Egotism

4. It’s true that startups need talented,
experienced, and energetic people who have
specialised knowledge to grow & succeed

5. However, be very aware when hiring an
excellent person as they could turn out to
be an egoist

6. Building a business is a team effort, and it
only takes one prima donna to send every
effort of the whole team into the bin

7.  Be extra careful when hiring new
employee to preserve the harmony within
the business
 Conduct team review & carry out team
building activities regularly
SOLUTION

8. Sloppiness

9. Entrepreneurs & startups have nothing to
lean on when they fumble, which means
they must be extra meticulous to make sure
that nothing will fall through the cracks

10. Sloppiness causes startups to fail through:
• Poor products
• Bad location
• Legal challenges

11.  Identify whether you are a sloppy person
in business or not
 If you tend to focus on the big picture
more, find a partner who’s detail-oriented
to help you with business planning
SOLUTION

12. Life/Work Imbalance

13. A lack of work/life balance will create
stress, which when go on for a long time will
prompt a person to make bad decisions

14. Life/work imbalance will cause entrepreneurs
(and their business) to fail due to:
• Loss of focus
• Lack of passion
• Burning out

15. Lessen your stress level by exercising or
meditate on a daily basis, switch off your
phone when you go to bed, eating with no
distractions, etc.
SOLUTION

16. Inflexibility

17. Some startups tend to continue to pursue
its course of action even after it’s been
proven impractical

18.  Instil in your brain & mark on your plan
the possibility of a radical change of
direction for your business from day 1
 Don’t try to resist the inevitable change
SOLUTION

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20. Questions, Comments or Clarification?
Contact: Maverick Mentoring For Business
Email: peter@maverickmentoringforbusiness.com.au
Phone: 61 3 9005 8275