Five Easily Avoidable Entrepreneurial Mistakes

If you’re planning on blindly barreling down the path to entrepreneurship, you’ll likely make a few critical mistakes along the way.

fortunately, many of these errors, as outlined by Onsale founder Jerry Kaplan, are entirely avoidable. Most of them deal with willful ignorance and stubbornness. What is Kaplan’s message to budding entrepreneurs? Sometimes, while you may know better, you ignore logic. Here are some examples of easily avoidable mistakes you should never make:

• You get too greedy. While a business should generate money, some of it should also be fed back in to propel the business growth strategies. Don’t hoard ownership, either. If you need investors, divvy up some of the ownership for a funding infusion.
• You have unclear goals or an unclear company strategy. With no direction or a measure of success, you’re certain to sputter.

Many of these are basic business principles. But for enterprising founders specifically, staying far away from these mistakes can keep your startup headed in a positive direction. For more on this topic, watch the video featuring Kaplan.