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Entrepreneurship Simplified

The 3 Fatal Mistakes That Sink New Businesses—And How to Avoid Them

Broadcast on:
12 Mar 2025

A lot of new businesses don’t fail because the idea is bad—it’s because of a few key mistakes that could’ve been avoided. In this episode, I’m breaking down the three biggest ones I see all the time so you don’t have to learn the hard way.

First, just having a great skill or product isn’t enough. If you don’t have a plan to actually get customers, your business won’t last. Then there’s the issue of money—too many people jump in without enough cash to keep things going long enough to get off the ground. And finally, trying to do everything yourself? That’s a fast track to burnout and dropping the ball on things that actually keep your business running.

I’ve made these mistakes myself, and I’ve watched plenty of others do the same. So let’s talk about how to avoid them. Tune in, take notes, and if you’ve got questions, reach out—I’m always happy to chat about this stuff!

EPISODE HIGHLIGHTS:

00:00 - Introduction

00:54 - Mistake #1: Thinking a great skill or product is enough without a plan to get customers

03:57 - How to avoid the ‘great idea, no customers’ trap

04:38 - Mistake #2: Not having enough financial runway to keep the business afloat

07:49 - How to avoid the cash flow crunch that kills new businesses

09:22 - Mistake #3: Trying to do everything yourself for too long

11:00 - How to avoid running yourself into the ground as a business owner

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