April 3, 2020

Don’t Make These 5 Mistakes When Starting Your Next Business

Surviving launch day doesn’t mean you’re out of the woods. In fact, your greatest pitfalls might lie ahead.

5 min read

Opinions expressed by Entrepreneur contributors are their own.

Starting a business offers all sorts of pitfalls. Big ones, like running out of cash or running into legal issues, are hard to ignore. But in the midst of the long nights, major decisions and mountains of paperwork, it’s easy to miss little things that can make a major difference in the long run.

Keep an eye out for these missteps as you endeavor on your newest venture.

1. Failing to do research

A CBInsights study shows that 42 percent of startups fail because they don’t address a market need. Tackling a problem that’s interesting to solve may be fun, but it isn’t a path to success.

Before you invest in your business idea, ask yourself what problem

Covid-19: Tweaking your household budget to tide over the lockdown

It’s time we stopped focusing on fear and anxiety around Covid-19 and started answering practical questions about all the changes it has brought about in our daily lives. “We all will need to live through the isolation and months of working from home. And, perhaps sooner or later work on lower salaries or even with a no-paycheck scenario. Thus everyone needs to bring about a change in their financial strategies to survive the new environment,” says Mumbai-based Certified Financial Planner Pankaj Mathpal. “This means close monitoring your cash flows (money coming in and going out), and changing them in according to the situation.”

In short, if you already have a household monthly budget, you would need to tweak it. If not, then it’s about time you made one.

Best of times and worst of times: The first step is to assess your current financial situation. Know

Investor wealth erodes Rs 4.82 trn as Covid-19 cases continue to spike

Investor wealth tumbled by Rs 4,82,033.63 crore in two days of market fall as rise in Covid-19 cases further triggered selling in equities.

The Sensex plummeted 674.36 points or 2.39 per cent to close at 27,590.95 on Friday.

Selling in led to a decline in market capitalisation of the BSE-listed companies which tumbled Rs 4,82,033.63 crore to Rs 1,08,66,722.96 crore in two days.

“The Indian benchmark indices continued to plunge southwards, after a surge in the number of cases in India. Besides, Moody’s report on the banking sector wherein they have changed their outlook, further dented the sentiment,” Ajit Mishra, vice-president (research), Religare Broking Ltd, said.

ALSO READ: Coronavirus LIVE: 11 CISF jawans posted at Mumbai airport test positive

Axis Bank was the top loser in the Sensex pack, dropping 9.16 per cent, followed by IndusInd