Tuesday, August 22, 2006

Top 5 Mistakes of Entrepreneurs

Today's Top 5 List is based on some of the mistakes made by entrepreneurs. The point is for us to learn from them and to strengthen our entrepreneurial spirits.

  1. Sticking to one idea too long. Ideas are the currency of entrepreneurs - so try out several to see which ones are financially successful.
  2. Ignoring cash flow. You'll always need more cash than you think you will.
  3. Selling too hard. If you have to sell your ideas too hard, start listening to why they aren't buying.
  4. Not having support structures. Hire people to help you - build your own team of support to include a virtual assistant, accountant, business coach, and any others you need to make your business venture work.
  5. Giving up too soon. Everything takes longer than we want it to, expect it to, need it to. And that's just the way it is. Plan on a much longer launch time than you want - and stick with it.

I love entrepreneurial spirits - and have several entrepreneurs as clients. If you're an entrepreneur who is wanting to make things happen faster, a coach is one of the tools that can help.

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