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Summary

Entrepreneurs can learn from the successes and failures of others. Find out how you can identify mistakes that many early-stage entrepreneurs make so you can help keep your clients on the road to success.

Identifying pitfalls: How to help clients avoid common mistakes

by Linda Knopp

June/July 2009

Entrepreneurs can learn from the successes and failures of others. Find out how you can identify mistakes many early-stage entrepreneurs make in areas such as ownership, funding, product development, marketing and management, so you can help keep your clients on the road to success.

After 30-odd years of working with entrepreneurs as a lawyer and an incubator manager, Booker Schmidt has seen pretty much every mistake a business owner can make. But many times, he says, the missteps that can spell disaster for a start-up company could be avoided through effective business coaching.

Although each client’s situation is different, many of the mistakes entrepreneurs make follow similar themes – problems with ownership, funding, product development, management and marketing, says Schmidt, executive director of the Gainesville Technology Enterprise Center in Gainesville, Fla.

Read on to learn more about some of the most common mistakes entrepreneurs make – and how you can help your clients avoid similar missteps.

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Keywords: accounting/financial management -- client, business planning -- client, coaching clients, professional development -- client

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