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"A great idea ensures startup success, right? Wrong.\r\nNo one enjoys hearing it, but three out of four startups will fail before they ever get to market. Yes, even the greatest ideas are still susceptible to ending up in the trash. As a startup founder, mentor, Young Entrepreneur Council (YEC) member, I\u2019ve witnessed far too many startups reach the end far too early.\r\nAs discouraging as this may sound, realistic expectations are essential to startup success. Through my years of involvement in the startup community, I\u2019ve encountered a variety of pitfalls and mistakes including negative partnerships, overbuilt products, and poor marketing tactics.\r\nBut there\u2019s a light at the end of the tunnel for those entrepreneurs starting up if you avoid these seven mistakes:\r\n1. You\u2019re too idea-focused. This may be hard to swallow, but it takes more than a game-changing idea to find startup success. Today, ideas are a dime a dozen and you\u2019re most certainly not the first to think of what you\u2019re about to try to sell. It\u2019s really the people behind the idea whom matter most. Avoid committing yourself to an idea, and instead eat, sleep, and breathe the execution of your vision.\r\n2. You\u2019re quick to quit. When it comes to startup success, giving up shouldn\u2019t be an option. Starting a business requires complete commitment to ensure you make it through the inevitable roadblocks along your way. Be prepared to find your resilience to bounce back from many \u201Cno\u2019s\u201D in the beginning -- and maybe even pivot if necessary. But continually overcoming the negativity will fuel you in the right direction.\r\n3. You forget the power of simplicity. The importance of standing out often leads startups to lose focus and overbuild on their product. Believe it or not: A slew of features won\u2019t set you apart from the competition. To avoid a pitfall, ensure you're creating the minimum viable product (MVP). This ensure you\u2019re building something with unnecessary bells and whistles from the beginning.\r\n4. You\u2019ll figure out marketing later. No, just because you\u2019ve built something you feel is worthy of a doubletake, doesn\u2019t mean anyone else feels the same way. This is why marketing and user acquisition is crucial to startup success. One thing I\u2019ve seen at my Web marketing agency is that most startup founders invest all of their time and money in their product, but forget to develop a detailed strategy and budget when it comes time to launch their product. If you want your startup to thrive, you need to start planning out your marketing strategy from the get-go, otherwise you\u2019ll never entice users to try it.\r\n5. You never ask for advice. No mentors means no soundboarding. Avoiding any unwanted criticism will only drive you toward startup failure. Constructive criticism from experienced members of the startup community will keep you in line. Keep an open mind when consuming feedback. Only change your pace for the criticism that you feel is most on-par and worthy of your attention.\r\n6. You\u2019re thinking too big. You may want to reach everyone with your product, but that just isn\u2019t feasible. You can still think big and go niche. Finding your niche will make marketing cheaper, more effective, and easier. Say you create a golfing product. You wouldn\u2019t want to market this item to people in Alaska, would you? Instead, you should focus on one area and potentially a common theme within your chosen target audience. This will streamline your marketing strategy.\r\n7. You hire the wrong people. As I said before, it\u2019s the people behind the idea that are the driving force. If you\u2019ve enlisted a team of less-than passionate and savvy individuals, they may be your downfall. This could even be your business partner. Set up your startup for long-term success by seeking partners and team members whom are on the page as you are, but also balance you out by presenting different traits, skills, and viewpoints. Are you right-brained? It\u2019s time to take on some left-brained hires to encourage balance.\r\nStartup success is depended on the avoidance of inevitable pitfalls, unwavering ambition, and never accepting \u201Cno\u201D for an answers.\r\nHow did you avoid startup failure?\r\nImage: Thinkstock"^^<http://www.w3.org/2001/XMLSchema#string>
<http://thenextweb.com/entrepreneur/2013/06/22/avoid-startup-failure-dont-make-these-7-mistakes/>