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5 Biggest Mistakes Entrepreneurs Make

1. Having unclear goals and an unclear mission
2. Trying to prove that they are smart
3. Greed – doing it for money
4. Hiring people that they like rather than people that they need
5. Not knowing when to let go

Jerry Kaplan, a serial entrepreneur from Stanford, taught these principles on October 01, 2003. His video is posted in my videos column and you can access the original manuscript of the speech at http://ecorner.stanford.edu/. My favorite line from the speech is, “Equity is like s**t. If you pile it up, it just smells bad. But if you spread it around, lots of wonderful things start to grow.” Classic!

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