Hiring too quickly is one of the biggest mistakes business owners make when trying to build their companies. Deepti Sharma Kapur, who started online food ordering service FoodtoEat in 2012, explains how her rush to build her team hurt her business:
"[I made the mistake of] hiring people who didn’t understand the company or the vision but were just looking for jobs. Now I’m mostly relying on references and talking to people in the industry. And the first question I ask is, ‘What do you know about the industry and our company?’"
Read on for 8 more common mistakes that can derail a business in its early days.
A D.C. lobbyist who was “obsessed” with fixing the infamous buttoned-shirt gap, Rochelle Behrens’ solution “The Shirt” became one of Oprah Winfrey’s favorite things. Behrens explains to OPEN Forum how she did it without a stitch of fashion or design experience.
I didn’t have a company. I only had an idea and a few shirts to sell. And I was doing this on the side. It was so early, but I wanted to see how the market would react. I’ve learned that a product is never going to be absolutely perfect, so you may as well test it out and see how it goes. A lot of products never go to market because they are always in the prototype phase.
I had this trunk show and—I have no idea how—it attracted the attention of NPR and they did a story on me. It was around the time that Hillary Clinton appeared on the Senate floor wearing a low-cut blouse and it caused a stir. I think my story line read something like, “Lobbyist-turned-designer livens up office looks.” It was good timing.
Read on to learn how Behrens’ shirts caught the attention of the Queen of Daytime Television.
You guys. 1,200 new businesses a day? That’s up from an average of 740 a day in 2013! This is just one of the many statistics that have us excited about the state of women entrepreneurs:
For more insights into the State of Women-Owned Businesses, read our report.