The mistakes to avoid

It is by taking risks and facing obstacles that you will later fully enjoy your success.

But to minimise difficulties and help your project succeed , we take a look at recurring errors made by other entrepreneurs.

A botched business plan

Many companies start out without taking the time to properly complete a business plan. Yet this is a crucial step in implementing your project. You need to prove that your business will be profitable. If you don’t first define your target customers, your marketing strategy, your operating costs, etc., your business risks sinking before it even launches.

Thinking that your business will be profitable immediately

We often tend to think of the boss as someone with a bulging bank account. But the reality is very different. As a general rule, entrepreneurs start to pay themselves a salary after a period ranging from six months to two years. This is why you must start out with enough personal savings to cope with the potential hardships ahead.

Don’t hide away!

Staying in front of your computer, not talking to other business creators, potential customers or advisors will not help you to grow your business. Travel, make the most of your network (family, social networks, etc.). In short, broaden your horizons! This will help you get feedback and advice that will help you progress faster. Quick tip: take part in workshops with professionals whenever you can, and contact entrepreneur clubs.

Come and join a community of student entrepreneurs by contacting the Hubhouse of the University of Lille.


For more personalised advice, make the most of the support that the University of Lille provides.