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Wallstreet Journal 10 Mistakes That Start-Up Entrepreneurs Make

The Wallstreet journal listed their top 10 Mistakes That Start-Up Entrepreneurs Make. I'd like to hear from the business men and women from 48 Days and see if these held true for you. What do you consider to be the top 10?

 

The top 10 are:

1. Going it alone

2. Asking too many people for advice

3. Spending too much time on product development, not enough on sales

4. Targeting too small a market

5. Entering a market with no distribution partner

6. Overpaying for customers (Advertising)

7. Raising too little capital

8. Raising too much capital

9. Not having a business plan

10. Over-thinking your business plan

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I would say that many people make the mistake of too broadly defining their niche especially when trying to replace income from a job. When cash-flow is minimal in the beginning many people are too eager to take on customers who don't fit their target profile.

Another problem is an unbalance between sales/marketing and delivering. This is especially true for service providers.

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