Comments on: 5 deadly mistakes when starting a business

By: Tom Raftery

Tom Raftery — Mon, 15 May 2006 11:14:32 +0000

Sales?

D’oh! I knew there was something I was forgetting.

By: Manoj Ranaweera

Manoj Ranaweera — Mon, 15 May 2006 09:46:36 +0000

My personal thoughts on this:

1. Too little cash – agree – negotiate wherever possible with suppliers – turn them to strategic partners on risk reward share basis – get funding (not easy as it sounds)
2 Thinking small – agree – will be stuck forever
3.Skimping on tech – you could get by
4. Underestimating the importance of sales – agree
5. Losing focus – agree – will be the end

Perhaps one day I will publish my own top 5. Little bit too early in my journey to broad cast these now..

By: Dennis Howlett

Dennis Howlett — Sun, 14 May 2006 22:21:53 +0000

Indeed David – and I would hope these are almost a given in many cases. But then the problem with passion is it is easy to get lost in it and forget the bills need paying from time to time. I find balance in all things is healthy. Unfortunately, my background as an accountant means it is uncomfortable viewing the world as a glass half full.

But then thanks for reminding me that there is a flipside to consider. Which begs a question – why when we’re taqught Dr must equal Cr do we persist with a cautionary view of the world?

By: David Maister

David Maister — Sun, 14 May 2006 22:08:11 +0000

The trouble with these lists, Accman, is that there are a thousand ways to fail. Avoiding nine hundred of them doesn’t guarantee success. It’s much more helpful to have a list of things that predict success. I suspect that if you can pass a few key success tests, then you’ll be forgiven a lot of mistakes – even so-called deadly ones.

My nominations for the success tests are the familiar ones (which I think you pass in flying colo(u)rs):

a)Doing something you are passionate about
b)Being clear about who you ant to serve and what they need
c)Having something to offer them

Keep swinging!