We all make mistakes when we’re new to something, especially if it’s starting a business.
In sports, players are considered rookies for their first year only. In entrepreneurship, you’re a rookie until you learn from your mistakes. Or, better yet, as small business expert Jay Goltz advises in his “You’re the Boss” blog for the New York Times, when you learn from someone else’s.
Goltz lists the biggest mistakes a rookie entrepreneur can make, and a few may surprise you. In addition to pointing out standard blunders such as hiring friends or family over more qualified candidates, he also argues that saving money on professional advice is a big error – “there is nothing more expensive than a cheap lawyer or accountant” – and that falling in love with your product or service can lead to compromised judgment and bad decisions. For more common rookie mistakes to avoid, read Goltz’s full post here.
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For startup companies attempting to grow as quickly as possible, learning from the mistakes of others is key. Read this post from the OpenView Blog for 10 mistakes startup entrepreneurs make that you can avoid. And for more startup mistakes you can’t afford to make, read this post.