Startups · Mistakes

What mistakes have you made trying to cut corners with saving money?

Ioannis MSc IT professional

October 3rd, 2016

As a startup you are always looking to save as much capital as you can and this many times leads to big time issues. What mistakes did you make trying to save money?
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Jennifer Ernst

October 3rd, 2016

Hiring too junior and expecting people to "grow" into the roles.  The demands of the roles always grew faster than the people could, particularly given there was little to no time for mentoring and coaching in a fast-paced start-up.

Michael Barnathan

October 3rd, 2016

I've made mistakes spending too much, seldom the opposite. If you have enough capital, it's easier to recover from overpaying for someone mediocre than spending bottom of the barrel and getting your money's worth.

Chuck Bartok Marketing and Sales Manager at MD Building Systems of Florida, Inc

October 3rd, 2016

Only once about 50 years ago I made the mistake of not buying the Best Equipment available
and NOT hiring the best and paying very well.
The most important asset a company has is personnel.
Then comes equipment.