A run down of the 5 most common mistakes startups make which can seriously harm their business further down the line, or even kill it. I've included tips of how to avoid these mistakes, as well as helpful links.

2. common mistakes
that could kill your business
BEFORE YOU’VE EVEN STARTED
5

3. 1
SHAREHOLDERS
AGREEMENT

4. Even if you’re great friends with
your founders...

5. ... it’s a pretty bad idea not to
have a shareholders agreement!

6. Having a solid agreement
may save those friendships
later down the line...
You never know what may happen!

7. 2
EMPLOYMENT
GUIDELINES

8. Outline what you expect from
your staff and the procedures
for any disciplinary action...

9. If you don’t have one in place
there will be nothing to fall
back on in case of a dispute.

10. 3
DOING EVERYTHING
YOURSELF

11. Don’t do it!!!

12. Founders and CEO’s
often get bogged down
minutiae...

13. ...when they should be
focussing on the
big picture.

14. This can be
dangerous in so
many ways as...

15. They cobble together documentation drawn
from internet research or free templates
that is not legally sound

16. They become disillusioned because they’re
not doing what they’re good at

17. They become worried they’re
not doing the admin correctly

18. Using experts doesn’t
have to be expensive

19. You should use people that
know what they’re doing to
ensure you don’t have to worry.

20. We use Geniac, who do everything
from accounting to legal compliance
so you can focus on what you’re good
at...
Find out more

21. Growing your business!

22. 4
UNAWARE OF LEGAL
OBLIGATIONS

23. Terms and Conditions or
Private Policies on websites
are often not done well!

24. Depending on your
business, if you store
data of any kind...

25. ...you need to be registered with...

26. the Information Commissioner’s Office
or this could void your cyber liability
insurance and put you in breach of
the Data Protection Act.

27. 5
NOT GETTING
INSURANCE

28. Finally, if you don’t sort out insurance...

29. this means that any accident in
the workplace or during
activities carried out for work,
is not covered

30. Workplace accidents may be the last thing on
your mind,
but for just a small fee a month you can
get this covered

31. Taking care of the small things,
or the ”boring” parts
of your business are
hugely important
and will have a
lasting impact on your company

32. You don’t need to do these things
yourselves, or hire more people into
your company

33. Use experts instead
and concentrate on
the reason you started up
in the first place
Find out more