Top 3 business mistakes: Join us as Mike Cerny shares the top 3 startup mistakes he made launching DoNoRent.com
Mike Cerny is the founder of Do Not Rent, a web platform that allows tenants to review their renting experiences. With this, tenants now have a way to review good renting spaces, and also vent about the bad ones.
Q: What were the top 3 mistakes you made starting out with your business, and if you could start over what would you do differently?
My Top 3 Startup Mistakes: [Tweet it]
(1) Don’t start your business without an advisor and don’t think your business idea is so secretive that you can’t share the idea or concept unless someone signs an NDA.
Chances are you are not the only person with the idea and I have learned that most advisors and entrepreneurs you come into contact with are trustworthy and want to see you succeed.
(2) You can’t rush into financial decisions.
As much as you want to turn your concept or idea into a reality immediately you will always save a significant amount of money if you continue to search for a more affordable alternative or a cheaper vendor. Obtain multiple quotes from vendors and never settle. Frugality is key because I have found that 9 out of 10 times you will exceed your budget especially if you need to make immediate improvements or changes.
(3) Build your team before you go into production.
I made the mistake of going at it alone in the beginning and I am still in the process of adding additional members to the team.
Mike Cerny | Founder | Do Not Rent