Being an Entrepreneur is not about being unique. Millions of Entrepreneurs, both successful and not successful have followed this road before you. Lucky you! That means you do not have to invent the wheel again we provide you with an overview of the most common mistakes entrepreneurs make in their journey to success

1. Most Common Mistakes
Entrepreneurs Make
Author : Eva Hukshorn, Partner EFactor

2. Most Common Mistakes
Entrepreneurs Make

3. Being an Entrepreneur is not about being unique. Millions of
Entrepreneurs, both successful have followed this road before you
Well, Lucky you! That means you do not have to invent the wheel
again we provide you with an overview of the most common
mistakes entrepreneurs make in their journey to success
Read and Learn !

4. 1. Having a perfect product, but no
customers
2. If you hire employees which are still
employed by others, check their
agreements
3. Do not surround yourself with
advisors which have not experience
in dealing with start-ups,
entrepreneurs of external fund
providers like informal investors or
venture capitalists

5. 4. Communicate!! With your partners,
with your employees, with your
customers
5. Underestimate legal matters
6. Cash out before cash is in
7. Most Entrepreneurs are know-it-alls
with too much hubris. Hence, do not
forget to do sufficient market
research.

6. 8. Have just 1 idea and holding on to
long
9. Get ride of the overhead!
10. Make sure you have (international)
intellectual property protection
11. Make sure the other party signs a
non-disclosure agreement when you
disclose product features
12. Make sure to comply with local laws

7. 13. Be explicit on what it is exactly what
you do, without talking for 10 minutes.
Train this
14. Afraid to appoint a CEO among partners
15. Be clear on who owns what amount of
share, manage expectations from the
start what their role is.
17. No focus, normally this happens
because of lack of planning

8. 18. When an external fund provider like an
informal investor or venture capitalist
is showing interest, do not forget to
negotiate other things than valuation:
dividends, redemption rights, anti-
dilution protection et cetera
19. Forget about small customers and only
focus on 1 large customer
20. No experience in sales, finance,
products, legal
20. Overselling, please don’t!

9. 21. Hockey sticks in business plan, they
just make you not credible
22. Don’t be afraid of sales, it is a
numbers games, so JUST DO IT!
23. Admit that you are NOT good at
certain tasks or DON’T have the
expertise. And then solve it
24. Founding an idea is not everything,
you also have to execute it. Cherish
does people who help you do this

10. If you would like more assistance, email
membersupport@efactor.com, we are more than happy to act as your
coach to create your ultimate roadmap

11. Visit Now
http://www.efactor.com/
https://www.facebook.com/efactor
http://www.twitter.com/efactor
Images by :
Image 1 : Vlado
Image 2 : Stockimages
Image 3 and 4 : Ambro
Image 5 and 6 : Photostock
Image 7 : Imagerymajestic

12. This document was prepared by Eva Hukshorn. Several people and organizations have
inspired her to write this presentation, amongst which are, but not limited to the Founders of
EFactor, ABN AMRO/RBS, University of Groningen, Institute for Management Accountants,
Paul Grant Founder of the Funding Game
Thank You!