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There are lots of reasons start-ups fail, but one that I see far too often is the lack of industry experience. Industry experience can be summed up as having substantive knowledge working in the area of the planned start-up.

As an advisor, I have met with hundreds of budding start-ups and one of my primary questions to them once they have explained their idea is, “what industry experience do you have?”

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Far too often I come across entrepreneurs who can’t seem to launch their new business, product, service or even a new strategy. They are constantly tweaking it, in an attempt to make it better or even perfect the final offering.

What they fail to realize is that they’re wasting valuable learning time by not being in the market. Regardless of when they finally do launch, chances are they are going to need to make adjustments anyways once they receive customer feedback, so why wait?… Read More

 

Entrepreneurs are notorious for not delegating duties and responsibilities within their organizations. A common reason for this that they figure it’s just easier and quicker to do it themselves than to take the extra time required to train someone. So instead, they just figure they’ll work a little harder. (TWEET THIS)

Delegating Is Freedom

For those lucky few who do find enlightenment, they quickly realize how learning to delegate can be a revelation in freedom that, over time will allow to become a better manager and allow you to focus on the long range plan of your organization, instead of being stuck in the moment.… Read More