Here are common costly mistakes that people make when they start in a small business. I have started several businesses in many countries and everything I have learned apply anywhere. The main mistake people make are speed and over excitement. Please allow me to give you some tips on business start-ups and how to save time and money at the beginning.
00:55 Make a basic business plan
01:10 Look for government grants
01:45 Start from home (if you can)
04:00 Don’t buy anything until you have to.
05:03 Don’t register for tax ID number
05:35 Use consultants at the beginning
06:07 If you have to, register a business
06:32 Get a provisional patent only
08:00 Make a basic website
08:16 Don’t install of phone line yet
08:45 Calculate your mileage on your car