10 Stupid Things Entrepreneurs Do To Mess up Their Businesses

We’ve seen many Entrepreneurs come through our doors.  We thought this article was a really useful list to monitor yourself where you are starting your business or growing through a significant growth phase.

10 Stupid Things Entrepreneurs Do To Mess up Their Businesses by Chris Shipley on December 20th, 2009

1. Do Think Like a Gupp, not a Small Fish

If you want to be a big business someday, think like a bigger business now, not “just a small business.”

2. Do not Confuse Vision and Focus

Have a Clear Vision, and execute it.  Now “Focus is how you get there.”

3. Do not Confuse activity for focus

“Lots of activity doesn’t necessarily mean lots of progress.”

4. Do not Fall in Love with Technology instead of your Customers

“While dedication to technical excellence is admirable, in  a startup it’s the wrong target for your affection.  Instead, fall in love with your customers.”

5. Don’t just Focus on Fund Raising Instead of Building a Business

“But even in the best of times, the best way to raise capital to build your business is to build and sell products and services that people want to buy.  In fact, nothing catches the interest of VCs like money coming into the company.Consider that raising venture capital is a time-consuming activity.  Consider how you might otherwise use your time.  Developing a product?  Talking to customers?  Building strong channel partners?  Then consider this: what brings more value to your company: building PowerPoint presentations for Sand Hill Road or building your company?:

6. Don’t Fail To Measure

7. Don’t Ignore Yellow Lights

8. Do Hire Good People

“Smart founders hire great people. Period.”

9. Don’t Neglect the Details

“A little time and a few dollars spent with a bookkeeper and lawyer in your earliest days will save a lot more time and money later when you need clean books and protected IP to make your case to investors, customers, and partners.”  This will also help you not to sink all your time in administrative tasks.

10. Lose Site of Your Values

“Every company has a culture.  It’s either accidental or deliberate.”

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