You have a great fin tech business plan. You assemble your team and create your startup. Here are ten common mistakes you should avoid if you want to have a chance to live another day. 1. Not thinking about proper licensing You think you are a tech company. You think you are only building software. But if you are focusing on a business-to-consumer model, chances are you may require some type of license. At the very least you may need to talk to your local regulator. Many a startup has tripped up by forgetting that the financial services industry is heavily regulated — sometimes maddeningly so, sometimes rightly so, sometimes both.