{"id":337,"date":"2019-01-29T13:00:48","date_gmt":"2019-01-29T09:30:48","guid":{"rendered":"http:\/\/imansoltani.ir\/main\/?p=337"},"modified":"2019-01-29T13:00:48","modified_gmt":"2019-01-29T09:30:48","slug":"10-common-mistakes-for-starting-a-business-in-iran","status":"publish","type":"post","link":"http:\/\/imansoltani.ir\/main\/2019\/01\/29\/10-common-mistakes-for-starting-a-business-in-iran\/","title":{"rendered":"10 Common Mistakes For Starting a Business in Iran!"},"content":{"rendered":"\n

For every startup no \nmatter where you are planning it, there is a good chance it will fail.  I\n hate to break it to you but studies showed that there is more than 75% \nchance of failure for every startup which makes it really scary.<\/p>\n\n\n\n

Above is the something general and regardless of the market or where you are planning your business startup it is applicable.<\/p>\n\n\n\n

I want to be more specific and talk about the most common mistakes  for Biz startups in Iran.<\/p>\n\n\n\n

In my earlier post, I described IRAN Market<\/strong> in \ndetail & the difficulties which you might face.Now I want to \nhighlight (in no particular order) top 10 common mistakes which might  \nlead to a failure when you want to launch your Biz in Iran.<\/p>\n\n\n\n

#1) Not Understanding the Market terms & conditions ( T&Cs):<\/strong><\/p>\n\n\n\n

For sure every startup needs to be based on conducting market & \nfeasibility studies. But for IRAN, first you need to have a deep \nunderstanding about the market T&Cs. it is strongly recommended.( \nplease refer to my earlier post regarding Iran market)<\/p>\n\n\n\n

#2)<\/strong> Conducting market research from outside rather to have it done locally: <\/strong><\/p>\n\n\n\n

Some companies make this mistake and try to conduct the market \nresearch & feasibility study by using international agencies or with\n their own staffs using only internet & limited resources. Using \ninternational agencies has its own benefits but for IRAN, you need to be\n more specific and dig harder for such data and most of the time the \nresults which come from the market research from outside will be really \ndifferent to what you get from the inside and most of the times the \nresults could be really misleading. So not doing it locally will end up \nwith inadequate data. One more important hint is to avoid conducting \nyour local research with wrong group. choose your local agent wisely!<\/p>\n\n\n\n

#3) Relying on one set of data:<\/strong><\/p>\n\n\n\n

Make sure you are not only relying on one set of data, always do the \nback checks and try to evaluate the data which you are receiving from \nyour local agent. cross check it with your team and challenge it. it is \ncommon to receive copy pasted reports or even in worse cases the data \nwhich has been manipulated to be presented to you so you would like it.<\/p>\n\n\n\n

#4) Skimping on the Business Plan:<\/strong><\/p>\n\n\n\n

Of course for starting a new Biz, the first thing to have a Proper \nBusiness Plan, but when you want to enter Iran market, you want to make \nsure that you have a solid Business plan which has been planned based on\n realistic and valid assumptions according to the local market \nT&Cs.sometimes some companies make this mistake and try to use their\n available BP which has been used for other countries in the region and \njust changing the inputs which is a huge mistake. if you want to use \nyour available BP make sure you localize it by using proper and accurate\n data from inside the country, otherwise it can turn out to be disaster.<\/p>\n\n\n\n

#5) Hiring Poorly:<\/strong><\/p>\n\n\n\n

Every one wants to hire the best available talent for their team but \nwhen it comes to the salaries and how much they want to pay for such a \ntalent, it becomes a bit challenging and misleading and I tell you why.<\/p>\n\n\n\n

Due to the earlier IRAN condition and all the embargo and sanction \nstories, not so many companies would liked to invest in Iran and the \nmajority vacated the market because of such issues & difficulties, \nas such experienced people who worked with multinational companies with \nsolid track-record of success & delivery are not that much. and for \nsuch a reason  when you want to hire people locally you will see big \ndifference between packages for candidates.  by considering the \npackages, it might become tempting to hire the cheap ones. If you hire \npoorly, you’ll end up spending a lot more than you wanted to pay in the \nfirst place just to fix it.<\/p>\n\n\n\n

#6) Handling Money Incorrectly:<\/strong><\/p>\n\n\n\n

When it comes to startup, handling the money correctly is vital to \nfuture success. one of the most common mistakes is to hire tons of \npeople as the country is so vast and the market is so  big ,appealing \nand tempting that makes you excited to  jump in and capture the most \nthat you can.  Hire those truly needed and choose professional ones. Try\n to avoid the following to handle your money properly : Wrong Hiring \nprocess, Hire unprofessional help,Diluted priorities,Cash flow \ncasualness.<\/p>\n\n\n\n

#7) Bad timing, Launching at an inopportune time.<\/strong><\/p>\n\n\n\n

Timing is everything for startup and launch a business. do your home \nwork, check out the seasonality and find out the best time to launch. \nBad timing is including launching too early or too late.  don’t wait for\n the perfect when the good will do.<\/p>\n\n\n\n

#8) Having too much outside influence<\/strong>:<\/p>\n\n\n\n

When you choose your local team, trust them & let them do their \njob. Try to avoid too much influence from the outside. if you allow too \nmuch  from the outside, you must expect the following results:<\/p>\n\n\n\n