Starting a business can be exhilarating. The excitement of building an empire, or even just a profitable enterprise, from scratch is intoxicating, but sometimes this eagerness can get in the way of an entrepreneur's success. Entrepreneurs, riding on their passion for leading, often end up drowning in debts because they jumped in with both feet. Regardless of the size, setting up a company requires months of effective planning that should address every possible bump in the road ahead. Generally, when someone manages to corral seemingly enough dollar bills to get through the struggling days of a startup, they assume they are all set to run a business. But that is precisely what lands them in hot water later because they skip a bunch of essential steps that constitute the most disastrous mistakes one can make.