How to avoid the most common entrepreneurial mistakes

03/10/2014 | Entrepreneur online

You can raise the odds of staying in business by avoiding many of the common entrepreneur missteps, writes entrepreneur and consultant Dana Brownlee. Remember to save up enough cash to keep going until your business is able to generate a profit, and make sure you aren't looking at the world through rose-colored glasses as you develop your business plan. "Find three to five completely objective people [not friends or family] and specifically ask them to play devil's advocate to you to help identify vulnerabilities and then take steps to mitigate those," she recommends.

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