Tuesday, June 24, 2008

17 Mistakes Startups Make


John Osher started Dr John's SpinBrush in 1999 to make a $5 electric toothbrush. He sold the company to Proctor & Gamble 2-years later for $475M. John, who apparently knows something about startups, has come out with his list of the 17 mistakes that startups make. Great reading for anyone who wants to avoid these common pitfalls. Here are some of my favorites:

Mistake 1: Failing to spend enough time researching the business idea to see if it's viable.

Mistake 4: Overprojecting sales volume and timing.

Mistake 6: Hiring too many people and spending too much on offices and facilities.

Mistake 14: Lacking simplicity in your vision.

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