The five biggest mistakes that entrepreneurs make

November 6, 2009 | Chris Morris | Comments | |

The tricks to success change all the time, but the keys to failure are consistent. Serial entrepreneur Jerry Kaplan put together this list in a lecture in Stanford University’s entrepreneur thought leader speaker series in 2003 – but it’s as relevant today as it was then. Hubris, greed, lack of clarity and dumb hiring mistakes continue to be the biggest problems in the start-up world.

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About the Author, Chris Morris

Chris Morris is editor of the Entrepreneur Corner on VentureBeat, helping start-up business owners launch and grow their companies. He previously worked at Yahoo! Finance, where he was managing editor, and as director of content development at CNNMoney.com. His work has also appeared in Variety, CNBC.com, AOL and Forbes.com.

  • The tricks to success change all the time, but the keys to failure are consistent.
  • noelwiggins
    I appreciate the tips.

    I agree that I haven't defined my goals clearly. and aim to try and get this defined.

    i also like the points of hireing people that are skilled at what I am not good at.

    Having my own company definately feels like I have to do everything, I am the chief cook and bottle washer.

    When really all I want to be is the cook.

    So trying to fill these other roles I am convinced is a good idea, and thanks for the point that I am hiring on skills sets and not on how well I like the person or not.

    --

    Thanks and Regards

    Noel for Nopun.com
    a graphic design studio
  • Greg
    I must be losing the plot - I only count 4!
  • LikeSoup
    I suggest that the fifth mistake is not having a super clear emotional vision for what it is that's desired for the business, the customers and partners. If you're searching for an earning vehicle and the training that teaches entrepreneurial business and mindset principles visit http://www.LikeSoup.com...
  • jonathancmiller
    We advise entrepreneurs on how to be successful, invest in early-stage companies and help raise funds. We find that the #1 biggest mistake is greed. What we call 'big piece of a small pie' mentality. Successful entrepreneurs have a 'small piece of a big pie' mentality. Don't worry about how much control you have or how much equity you own. Focus on building a sucessful businesss and your rewards will come.