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5 common mistakes by first-time startup founders Mistakes are inevitable in business, especially for first-time entrepreneurs. While learning from failures is valuable, you can mitigate them by leveraging the experiences of others. Those are some of the mistakes you should avoid at all costs:
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Hiring Full-Time Employees Early: Focus on achieving product-market fit before hiring. Early hires may become frustrated with constant changes in direction.
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Neglecting Offshore Talent: To save costs, consider hiring skilled talent from lower-affluence countries. This can help reduce labor expenses without sacrificing quality.
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Sticking to Your First Idea: Your initial idea is likely to fail. Success often comes from insights gained through rapid iteration and failure. Be sure to experiment from time to time.
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Overbuilding Your MVP: Avoid creating a comprehensive product before testing market interest. Use a landing page to gauge interest before investing significant resources.
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Lacking a Marketing Co-Founder: High growth is crucial for attracting investors, and it requires constant experimentation. A dedicated marketing co-founder should focus on growth strategies without distractions.
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