Personal Development for Smart People Forums - View Single Post - What is the Most Common Mistake New Entrepreneurs Make?

Brad Isaac · 02-07-2007, 10:20 PM

I'd say one of the most common mistakes is falling in love with the idea of a certain business before accurately figuring out if there is an actual market for what they'll be selling.

Losing a couple thousand on market analysis to find out the business can't succeed in a particular market is much better than losing a life's savings in starting up the company and letting it slowly drain it away.

02-07-2007, 10:20 PM	#3 (permalink)
Brad Isaac Member Join Date: Jan 2007 Posts: 49	I'd say one of the most common mistakes is falling in love with the idea of a certain business before accurately figuring out if there is an actual market for what they'll be selling. Losing a couple thousand on market analysis to find out the business can't succeed in a particular market is much better than losing a life's savings in starting up the company and letting it slowly drain it away.