most recent 30 from http://startups.com 2010-03-18T02:58:56Z http://startups.com/feeds/question/1233 http://www.creativecommons.org/licenses/by-nc/2.5/rdf http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur Matias Calderon Bourband 2009-11-08T07:11:49Z 2009-11-30T00:23:53Z

<p>If you ask me, I'll go with being an arrogant. Tell me your ideas: Which is the biggest mistake of an entrepreneur?</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1234#1234 Tyler Gillies 2009-11-08T07:17:53Z 2009-11-08T07:17:53Z

<p>Being too reserved and waiting for "the right idea" before releasing a product and running with it</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1237#1237 ondrobaco 2009-11-08T07:41:15Z 2009-11-08T07:41:15Z

<p>i guess the one that you learn most from and never forget</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1240#1240 adnan ahmed 2009-11-08T09:41:22Z 2009-11-08T09:41:22Z

<p>The biggest mistake of any entrepreneur is when he becomes complacent and assume that his under commands will take care of his business and he shows lack of attention and interest in putting extra efforts to make business successful that is when his downfall starts. His profit declines and as a fallout he lose money. </p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1258#1258 Scott Branson 2009-11-08T13:19:34Z 2009-11-08T13:19:34Z

<p>Not to focus on one thing</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1260#1260 Mark Essel 2009-11-08T13:27:54Z 2009-11-08T13:27:54Z

<ol> <li>False assumptions, and any activities that lead to them. (Listen to your users/customers)</li> <li>Burning capital faster than you can make it without one helluva plan or revenue stream in place.</li> <li>Borrowing too much outside capital and losing control of the business (puppet strings), <a href="http://www.victusspiritus.com/2009/06/13/how-to-get-rich-really-really-rich/" rel="nofollow">Felix Dennis would be proud</a>.</li> </ol> <p>Just a heads up, I'm still in the pre-corporate entity startup phase. I've been fortunate enough to have the time to learn as much as I can about the process in the last year or so as possible (while working/writing).</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1267#1267 Usman Sheikh 2009-11-08T14:27:32Z 2009-11-08T14:27:32Z

<p>Choosing a niche that is not big enough. </p> <p>If you get this one wrong then a domino effect follows. I repeatedly see entrepreneurs picking niche's that are too small or saturated. Doing your market research upfront and picking the right niche can be the difference between a success and failure. </p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1276#1276 tzm 2009-11-08T16:47:09Z 2009-11-08T16:47:09Z

<p>Last year, I sat in on a panel of VCs who were analyzing entrepreneur pitches. After what seemed like an excellent pitch (qualified team, existing sales, growing business, etc), most of the VCs were turned off. There was a consensus that the entrepreneur was <strong>incapable of listening</strong>, "too smart" as one put it. Interesting comment.</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1299#1299 Ron 2009-11-08T20:42:22Z 2009-11-08T20:42:22Z

<p>Choosing to be an entrepreneur ;)</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1300#1300 James F. 2009-11-08T20:43:03Z 2009-11-08T20:43:03Z

<p>Hands down the biggest mistake:</p> <p><strong>Not finding a customer/client who is willing to buy your product/service before you ever launch it.</strong></p> <p>I've seen many startups tank because once they launched, they finally found out no one would buy their service or product..</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1654#1654 Mr. Flibble 2009-11-10T19:13:33Z 2009-11-10T19:13:33Z

<p>Speaking their mind.</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/1757#1757 Rob Rawson 2009-11-11T06:31:18Z 2009-11-11T06:31:18Z

<p>Cash flow management is the biggest mistake because you can't recover easily from it. I personally know some great guys who could be successful entrepreneurs but will never be successful because they spend too much money in their business.</p> <p>Another big mistake is hiring expensive people or consultants and expecting that they can magically solve your problems. Often they just add to your costs. Much better to hire people on a results basis wherever possible.</p> <p>And yet another mistake is thinking that your "big idea" is really great without testing it in the market place. Some companies spend years developing a product and then launch it and it's a total flop. Customers don't want it!</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/4124#4124 feconroses 2009-11-21T22:52:52Z 2009-11-21T22:52:52Z

<p>Assuming that they have ALL the necessary skills to run a startup and build a succesful business.</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/4125#4125 Arfan 2009-11-21T23:26:55Z 2009-11-21T23:26:55Z

<p>I must say giving up way too early many of them think you will come in and make millions right away however it does not happen right away and they give up. </p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/5934#5934 John Cliford 2009-11-28T23:14:22Z 2009-11-28T23:14:22Z

<p>Successful entepreneurs don't work in their business, they work ON their business. </p> <p>I strongly recommend that anyone thinking of starting a company read "<a href="http://www.amazon.com/gp/product/0887307280?ie=UTF8&amp;tag=httpwwwthirty-20&amp;linkCode=as2&amp;camp=1789&amp;creative=390957&amp;creativeASIN=0887307280" rel="nofollow">The E-Myth</a>". The author points out that most people who start their own business think they are entepreneurs (people who are good at creating a business) when they are actually technicians (people who are good at doing a specific job). As a result, they don't create a business, they create a job that consumes all their time and that basically owns them. </p> <p>Successful entepreneurs understand how to structure a business so they DON'T have to be there 24/7 in order for the business to work. The ideal is to create a business that runs itself, so you have to put in the time to figure out the org structure and processes that will enable this. At startup the entepreneur is wearing all of the hats, but must learn to hire the right people to fill in the org chart, and who will follow the processes (and help to improve those processes) so that what needs to happen happens. If you can't make the leap from technician to entepreneur, then your business will eventually fail if for no other reason than you get tired of working 80-hour weeks and go back to working for someone else.</p> <p>A well-run business should not be in crisis mode, shouldn't require a lot of fire-fighting, and should allow the owner to take considerable time off if desired. Otherwise, you don't own the company, the company owns you. How fun is that?</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/5978#5978 Michael B Moore 2009-11-29T23:14:07Z 2009-11-29T23:14:07Z

<p>Allowing expenses to lead revenue.</p>

http://startups.com/questions/1233/which-is-the-biggest-mistake-of-an-entrepreneur/5986#5986 Marc Jarman 2009-11-30T00:23:53Z 2009-11-30T00:23:53Z

<p>Not knowing when to stop. When to cease and desist.</p>