From insufficient funding to tough competition, new entrepreneurs need to be ready for all kinds of challenges and obstacles, members of the Young Entrepreneur Council write in a new commentary for Forbes.
But the council—an invite-only organization comprising the world’s most successful entrepreneurs under the age of 40—says the most frustrating pitfalls many new entrepreneurs face are both self-inflicted and avoidable with the right planning and advice.
Those mistakes include:
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- Failing to create accountability
- Working with the wrong people
- Ignoring your instincts
- Starting without the proper funding
- Overcommitting yourself
- Not prioritizing sales
