"Experience is the name everyone gives to their mistakes."
- Ignore market information that does not conform to your preferred view of the world.The Market is always right.
- Crash ahead in spite of strong and obvious reasons to stop, or at least to review strategies. Sometimes the Magic just doesn’t work.
- Think too small. Some businesses just won’t work below a certain critical mass.Review your Model, both Market-wise and Money-wise.
- Think too big. Companies like Microsoft and Google only come along once every 20 years. Modesty is always in vogue.
- Insist that a product be perfect. Excellent is good enough, requires less Money,and may actually get to Market.
- Hire a résumé instead of a person. Teamwork is essential to success. Perhaps the most critical Management skill is hiring.
- Fail to get professional assistance. You wouldn’t remove your own appendix. Don't try to practice law.
- Compromise your principles. Your self-respect follows you everywhere. And you can only lose your reputation once.
- Lose track of your Motivation. Your business should be an extension of your needs and wants, not the other way around.