What are some common mistakes people make when bootstrapping a business?
Some common mistakes include underestimating costs, neglecting market research, and not having a clear business plan.
Can you elaborate on why underestimating costs is a mistake?
Underestimating costs can lead to cash flow issues, making it difficult to sustain operations and grow the business.
What about market research? Why is it important?
Market research helps you understand your target audience, competition, and market trends, which are crucial for making informed decisions.
How can I avoid these mistakes?
To avoid these mistakes, create a detailed budget, conduct thorough market research, and develop a solid business plan before launching.
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