MissingMethod

Pelle Braendgaard over at Stake Ventures has a really smart, in-depth series of articles on pitfalls to avoid as a small or solo entrepreneur. My favorites:

#3 - The evils of business plans. Bottom line: if your business plan is nothing more than an “unreadable sales document”, don’t waste time on it. Don’t worry about made-up marketing numbers, imaginary user adoption rates, and outlining your first hires. Those things waste time; “they don’t reflect a dynamic, growing business”

#5 - Believe you will succeed but don’t let optimism blind you. Bottom line: Figure out the difference between optimism and realism. To succeed as an entrepreneur, you have believe you will prevail in the end. But over-adherence to a particular strategy in the face of facts that show it’s not working will keep you from being flexible enough to correct your course.

Last Modified : October 4th, 2006
Filed under : Web2.0, Entrepreneurship
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