Chapter Two. Basic Rules of Business Success

<feature><title>Chapter Topics</title> <objective>

The 8 common start–up mistakes

  1. Choosing a bad business opportunity

  2. Choosing the wrong customers

  3. Choosing the wrong products or services

  4. Pricing products or services improperly

  5. Not selling to enough customers fast enough

  6. Not executing well

  7. People problems

  8. Mismanaging growth

</objective> <objective>

Basic rules of business success

</objective> <objective>

The 7 Ws

</objective> </feature>

The 8 Common Start–Up Mistakes

In the following sections, we discuss the 8 common mistakes start-up companies make and use them as a teaching tool to set forth the basic rules of business that successful entrepreneurs use.

Common Mistake #1: Choosing a Bad Business Opportunity

There ...

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