StartupMyths

That Can Tank Your Busines

5

When you start a company, it's going to seemlike everyone has an opinion. While someadvicewill be great, a whole lot of it won't. Here are 5myths you're better off ignoring.

tune out the noise

“Your smallcompany can'tcompete with thebig guys.”01

When first starting out, you shouldn't prioritizefuture competition. Instead focus on making thebest product possible. Product expertise andmeeting realistic goals should be your point ofinterest. This is what pushes you over the edge.

“The best productalways wins.”02

It's not just about a phenomenal product. Whenyou first launch, you're going to need a solidcustomer support base to help users make themost of a product. That, and a scalable salesstrategy. Without one, even the best product canspell doom for a company-- just ask Apple aboutthe Macintosh in '84.

"Lower youprice! That'sthe only way togain marketshare."

03

Bragging about having the lowest price isdefinitely a selling point. But at the end of theday, it's quality and value that really matters. Keepyour eye on the most profitable long-termbusiness model. Customer happiness and rate ofrepeat sales doesn't always correlate with thelowest price tag.

“Yourcompany’sgrowth is goingto plateau.Can't do muchabout that.”

04

Ah, growing pains. As you grow, you're going toset declining sales goals. That's totally normal.What isn't normal is settling for less. Encouragenew goals to reach. Think about future potential,partnerships, and ways to keep customersinvested in the product.

“Thecompanyculture willchangewithgrowth.”

05

Not necessarily. No matter how big it gets, youcan retain the culture that makes your companyunique. How? Encourage and collect employeefeedback. Always.