5 Biggest Mistakes New Business Owners Make

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In this article, we will take a look at the 5 biggest mistakes new business owners make. If you want to read our detailed analysis, you can go directly to 17 Biggest Mistakes New Business Owners Make.

5. Underestimating Costs 

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New businesses often fail to account for the business costs they may incur during execution. Not accounting for, or underestimating costs, is one of the biggest mistakes small business owners can make. Setting up business operations and maintaining them is expensive. Eventually, businesses tend to overspend their budget on unnecessary items and run out of money for essentials.

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