The document outlines 7 common mistakes that small businesses should avoid. These include having an ego that prevents accepting input, failing to create a strategic plan, having a poor online presence, hiring too quickly without properly screening candidates, failing to raise sufficient startup funds, neglecting existing customers, and hastily expanding into new markets or launching new products without thorough research. The key advice is to have an open mindset, carefully plan strategy, establish an online presence, selectively hire the right people, obtain adequate funding, focus on customer retention, and conduct research before expanding.