Four mistakes made by start-ups in February

“Wasting money on Facebook advertising on a small budget!”

Jason Gibbs, founder of Compare the Uni, says he was a victim of Zuckerberg. He learned the hard way that Facebook advertising isn’t for everyone, especially in the early days when money and time are tight.

If you’re not careful, you can plow a lot of hours into those stats and a lot of money into those clicks, without seeing any real return on investment. If you’re thinking of giving Facebook advertising a go, go into it with an open mind and an eye on both your wallet and the clock.

“Inventing a frozen product… logistics and ice cream don’t go hand in hand”

WheyHey ice cream is in good shape. The healthy, sugar-free, protein-packed ice cream brand is expecting sales of £2.5m for 2014. But that doesn’t mean life is easy for founders Greg Duggan and Damien Kennedy. From the very start of their business, they had their work cut out for them.

Some businesses can be started for nothing these days, but others can’t. If you’re thinking of creating something cold, so cold that it needs to be frozen, you need to know how you’re going to stock it and how you’re going to transport it. There’s no way Greg and Damien could regret starting WheyHey, but they definitely could have picked an easier start-up.

“Ever using the words Social Invoicing

Peer pressure can get the best of anyone. When you’re starting a business, you’ll hear a lot of buzzwords that people believe are great names for products, but, if no one you’re selling too knows what you’re talking about, it’s going to be hard to use in the real world. Christian Lanng, founder of Tradeshift, learned that lesson the hard way with Social Invoicing.

“I once wrapped my finger up in lettuce to see how hard the family's pet tortoise would bite”

OK, there’s no business lesson here. But Tufferman founder, Luke Barlow, lived to regret the decision quickly. And he probably learned from it.

For 40 common mistakes made by start-ups, click here.

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