These are some of the most common and costly pitfalls of inexperienced teams, according to BNET.
- Thinking you’ve got it all figured out. Engage as wide a pool of sources and opinions as possible before making a decision.
- Stretching yourself too thin. Learn how to say no. Taking on too much will only hurt the quality of your work.
- Hiring other inexperienced execs. It may sound like a no brainer, but it’s a misstep many entrepreneurs make.
- Choosing execs solely based on experience. Older does not necessarily mean wiser. Some seasoned managers have difficulty adjusting to the hectic, collaborative world of entrepreneurship.
- Shying away from risks. Prudence is a virtue, but operating on a strict risk-reward basis can hinder your business’ growth.
- Going public too soon. Entering the spotlight too soon can burn your business out. Best to stay private until your company is ready to handle challenges like the SEC and public security.
For the full list, check out BNET >>
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