Launching a business: 5 major mistakes to avoid.

The independence to make your own decisions, the art of creation, personal fulfillment, self-fulfillment - these are all motivating arguments that augur full satisfaction. So many arguments that are a perfect antithesis to your current, often gloomy professional situation, where every morning wake-up call is a real ordeal?

And yet, Winston Churchill subtly illustrated entrepreneurship:

"Success is walking from failure to failure while staying motivated."

Starting your own business is not a decision to be taken lightly. Indeed, it often means less financial security for more hourly work. It's undoubtedly a choice worth pondering.

In Switzerland, we've been conditioned by a culture of fear of failure, where life can be represented by the famous Windows "Safe Mode", cold and gray. Completely at odds with our industry's ease on the international market. And that's only possible with a population of 8 million, 99.7% of whom are SMEs (source: OFS), so important to the well-being of our economy. An economy that is, moreover, in the throes of migration. It is beginning a transition under new auspices: the sharing economy, artificial intelligence and robotization. Tesla, Uber, Airbnb, Booking.com, to name but a few international success stories, are representative of this new emulsion.

Below, you'll find 5 major mistakes that are a real hindrance to the success of your business or your desire to become self-employed. Whatever your business model, and whatever activity you've chosen, here are the five most common mistakes:

Making your fortune a priority

Unless you're presented with an incredibly prodigious opportunity, you'd better put aside your desire to sink your teeth into a quick fortune. The survival rate of businesses in Switzerland is 50% (source OFS) after five years of existence. What's more, it takes most entrepreneurs 3 years to earn their first "real" salary. Launch your business out of passion, a taste for risk, or because you're convinced you've hit the mother lode. In any case, don't become obsessed with money, as this could lead you to make the wrong decisions and precipitate your downfall. Stabilize your personal financial situation before taking the plunge. Or surround yourself with people who are ready to invest in your project.

Thinking you can do everything yourself

Maslow's need for self-fulfillment is often buried in your reasoning for building a project that will make you say: "I did it on my own without anyone's help", with a sense of pride welling up in your gut. Show your humility and know how to recognize your weaknesses as well as your strengths. This ability to surround yourself with competent people will make you a true leader. Able to rally people together for a cause you feel is right. What's more, you'll considerably reduce your risk of failure by having a wide range of skills at your disposal, a ploy designed to ensure the longevity of your future company.

3. Ignoring your surroundings and your environment

Psychologically speaking, man is born selfish. Indeed, it's only around the age of 8 that he opens up to others and steps out of his egocentric world. However, some will retain this lack of altruism for the rest of their lives. Be open-minded and understanding of the people around you. Entrepreneurship is an arduous action that requires stubbornness and hard work. If the people around you and/or your environment are not particularly inclined to uncertainty and risk, then this experience can quickly turn out to be a difficult one. Then this experience can quickly turn out to be socially destructive.

4. A half-hearted launch

Investing time and money is often strongly correlated with entrepreneurship. Generally speaking, time investment is often even higher. So, the general approach is to start while you're still working, using evenings and weekends to develop your future business. A safe approach, but one that can quickly prove insufficient. On the one hand, you are in control of your future business. At some point, you'll be forced to make important choices. Think carefully, and don't go overboard. On the other hand, calculate your opportunity cost and know that many often attractive businesses need courage to pass the hurdle of success. A clever mix.

5. Jumping in blindly

Finally, believing in your idea and being passionate about it are real factors for success. But temper your conviction. Open your mind and listen to everyone's comments and opinions about your business. In fact, every comment should be taken as a source of inspiration to improve your product/service.

Finding the right balance between taking the plunge half-heartedly and taking the plunge blindly is no easy task. However, it does mean reorienting your approach and the way you interact with your professional and personal environment. Without open-mindedness and understanding of your environment, you run the risk of finding yourself alone[/vc_column_text][vc_column_text].Share your entrepreneurial experience by commenting on this article!

Agence BB Switzerland® supports numerous start-ups and entrepreneurs in their launch phase. We wish you every success in your entrepreneurial endeavors.[/vc_column_text][vc_button button_color="accent " size="btn-lg " radius="btn-square " border_animation="btn-ripple-out " wide="yes " shadow="yes " shadow_weight="std " border_width="0″ css_animation="zoom-in " animation_speed="1000″ link="url:mailto%3Ainfo%40agence-bb.ch||| "]Contact article author[/vc_button][/vc_column][/vc_row]