by Mike Vogel
Updated 10 months ago
[Photo: Jonathan Brownfield]
2. "People need to spend time thinking about the business going forward. Small businesses tend to be much more tactical than they are strategic. It's a common mistake. Small-business owners tend to hold on to what they originally created when they could grow into something new and different."
2. "You've got this concept and you've birthed it and you're so attached to it even though the market tells you it has to change. A lot of times as small-business owners we're so passionate about what we're doing it's hard to accept the fact that what we're doing might be wrong. People don't pivot and listen to the market."
1. "Not realizing how hard it is to raise capital, usually from angel investors — we are talking about mistakes made by businesses that are in the process of or intend to raise capital from investors. Most entrepreneurial companies view prospective investors as suppliers when they should view them as customers."
2. "Failing to focus on strategic opportunities and chasing every perceived opportunity. Almost all entrepreneurs have a fear of passing up what they perceive to be an opportunity, and they spread themselves way too thin."
[Photo: Eric Blackmore]