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Florida CEOs answer: What are two common mistakes small businesses make?

MARKETING
Steve Nudelberg
Principal thinker - On The Ball - Plantation

Steve Nudelberg
[Photo: Jonathan Brownfield]
1. "They stay with the same people too long. There's a perverse sense of loyalty when new blood can actually provide great insight and new activity and new ideas."

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."


BUSINESS SUPPORT
Elton Rivas
Co-founder, president - CoWork Jax and Zero Confines - Jacksonville

Elton Rivas
1. "Failure to act or decide. A lot of small businesses do an overabundant amount of research rather than doing enough research to get a very solid direction."

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."


EDUCATION
Bill Grimm
Professor of Practice in Entrepreneurship and Negotiation Crummer Graduate School of Business - Rollins College - Winter Park

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."

Bill Grimm
[Photo: Eric Blackmore]