Top 7 things NOT to do when starting a business in 2020

These 7 mistakes cost me more than $20,000!
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If you’re just starting your business or maybe you’ve already started and want to learn from a person who’s been doing her own business for 9 years, then I’m here to share with you things that I shouldn’t have done as an entrepreneur. This information can potentially save you hundreds of thousands of dollars.

(1) MISTAKE #1: Not registering a trademark. This mistake cost me $20,000. I remember this day as if it was yesterday. I was in Saint Petersburg thinking about a name that we should give to our company. That’s when LinguaTrip came into my mind. I was happy to find out the domain was available, I bought it for $15 and registered a company. In six months, we realized that there is a company with the domain name in Russian which was one of our main markets. That company started doing everything against us. We didn’t register any trademark. That was our mistake. In the end, we agreed on buying their trademark for $20,000.

(2) MISTAKE #2: Not paying attention to numbers. When I just started a business, I was a huge believer in strategy. I didn’t really pay attention to numbers at the beginning because I thought they mean nothing. The problem was when the business started growing, I was still not really attentive to details. I would launch different campaigns on Facebook and YouTube and I still wouldn’t know which campaign generated what. When we got to hundreds of thousands in revenue, we started putting a system in place and it was really hard.

(3) MISTAKE #3: Not organizing things. When you start a business, you really need to organize everything because, again, you would end up having tens and hundreds of people in your company without having specific departments and instructions for them.

(4) MISTAKE #4: Doing everything on your own. You need to start delegating as early as possible. Your superpower is in creating new products, content, you should concentrate on this process. Delegate things that you don’t like. The first person that you should hire is a personal assistant.

(5) MISTAKE #5: Overcomplicating things. Instead of creating a landing page and start selling, people hire developers and waste precious time. In a year, everything changes and people might not need your product at all. Start with some really basic things.

(6) MISTAKE #6: Looking for investors before launching a product. Investor money is expensive money. They would want reports from you every month, they would keep asking you when you’re going to launch a product and this is your responsibility to provide results to them.

(7) MISTAKE #7: Thinking that you need a co-founder. A lot of people start a company thinking that they need a co-founder because even from the psychological standpoint it’s safer to have a person with you. However, people just rush to have a co-founder without testing candidates. You need to be 100% sure this person won’t betray you.

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Time codes:
0:39 How I lost $20,000
3:11 Why numbers MATTER
4:10 Why you need to make instructions RIGHT NOW
5:44 About
7:14 You can’t do everything on your own
8:00 Don’t overcomplicate, just do
8:42 Don’t look for investors before launching a product
10:33 Do you really need a co-founder?

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  1. I am thinking about a new type of restaurants : eating-spots,
    in eating-spots, food keeps changing, chefs also rotate,
    this is opposed to current restaurants,
    thanks to this rotation of food and chefs, eating-spots are way more powerful than restaurants.
    along with that, there is an app,
    people vote for the food that will be cooked in the next days.
    menu is influenced by the live input of the people via an app.

  2. Hi This is siva age of 23 – From India (Tamilnadu State)

    I would like to ask you that how to solve my biggest problems of non-productivity and laziness. I am a job holder working as a assisted design engineer, even I am a entrepreneur also I started a small scale business of Home maid services and Manpower services . I learning lot of things for my business like improve my English skills, digital marketing, HR management, Leadership and Entrepreneurship…etc……

    I need to do more things for my business but I couldn’t do anything in my life , I did planning how to bring my business next level , how to make teams and lot of things I have been planning till right now. But I have full of laziness couldn’t focusing in my business Thus I could not do what I thought.

    How can I overcome laziness, non-productivity and unfocused mind.

    What is the best advice would you give me for these problems!

  3. Hey Marina, would you add some more tags in your videos so it pops up more on search engine result page? I see here only three tags. As I really like your videos and appreciate your effort so wanna help you at least suggesting that might help you and others.

  4. HI,please
    Read the text carefully then sent audio recording please


    Intellectual property is an expansive and rapidly changing area
    of the law which deals with the formulation, usage and commercial exploitation
    of original creative works. Traditionally, intellectual property is divided
    into three main areas: Patents, Trademarks and copyrights.

    1-Patent: is a monopoly right in an invention, which the law
    recognizes a legal protection for a statutory period of years, e.g. 20 years in
    the UK, in most jurisdictions patent legislation requires that a patentable
    invention must be: a) novel, b) involves an inventive step, (c) is useful for
    industrial application, (d) is an invention, in the US, non obvious.

    Registered Trade Mark: is similar to a patent in that it provides the holder
    with an exclusive right to use distinctive mark in relation to a product or
    service. The trade mark function is to identify the origin (quality) of the
    good and avoid confusion, deception or mistake.

    3- Copyright: is a right related to original literary, musical and
    artistic works such as films and broadcasts. Copyright holders possess economic
    right of their right including the prohibition of unauthorized use of the work.

    The infringement of these intellectual property rights may
    result in a lawsuit being brought against the infringing party, for damages,
    injunctions, depending on the right infringed and the extent of the

    Best regards please 1000000000

  5. I am a documentary/video creator and started watching your channel. Congrats on creating quality and useful content. I am branding my video consulting/production business and took your advice on registering a trademark. However I was doing research and many people are recommending hiring a Trademark attorney for trademark search before applying for registration. Do you feel that is needed or someone like me could just do the search myself? Thank you for your advice!

  6. Great content! I am also from the silicon valley, bay area! this place is truly beautiful. I make similar content that you guys might like. Feel free to check out the channel and let me know what you think! 🙂

  7. Summarizing the tip five:

    – Create a product in couple weeks

    – Start selling immediately and test it

    – Get some money doing this

    – And only then, invest time and money in creating something bigger

  8. Sorry, but i am interested if this moment were right 0:40 , shouldn't we say as if it WERE or not? because as i know in IF SENTANCES we use WERE like a verb TO BE in the past

  9. Wow this is the best vid ever that actually helps! I like how you provide genuine advices instead of some generic/‘obvious’ stuff

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