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Saturday, September 26, 2015

50 Don'ts to Build Your Business #1

Don’ts To Build Your Business #1

 

 

  1. Not doing a business plan. (Even well established businesses should have a plan that outlines their market, products and objectives.
  2. Not understanding your break-even point.
  3. Underestimating the importance of cash flow.
  4. Not differentiating your business from your competition.
  5. Ignoring the powerful plus of having a mentor.
  6. Working alone when a partner could compensate for your weaknesses and triple your effectiveness.
  7. Undercapitalizing the business at the start.
  8. Not tapping into common sources of startup funds.
  9. Failing to inform groundfloor investors, typically friends and family, of the inherent risk of startups.
  10. Expecting venture capitalists to be helpful.

 

Marty Kahn, SCORE Counselor


 

 

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