How To Avoid Five Big Mistakes That Entrepreneurs Make

April 14, 2011

4:24 pm

Entrepreneurs good or bad, we all make mistakes. Some take their lumps over and over while others learn more quickly from their mistakes. Scott Walker, the founder of Walker Corporate Law Group, has worked with hundreds of entrepreneurs and has seen lots of mistakes get made along the way, so he shared five of the most common mistakes in this video below.

 

Here are the five common mistakes that Scott Walker identifies to watch out for:

1. Failure to do your due diligence on the guys on the other side of the table.
2. Failure to build a strong transaction team.
3. Failure to run negotiations through the lawyers.
4. Failure to check your emotions and remain disciplined.
5. Blinking first (explained in the video).

Watch the video (below) to get a little more perspective on each of these mistakes and see how you can avoid making the same mistakes too.

Editor’s Note: If you are in New York, Scott Walker will be on hand tonight as Walker Corporate Law Group is a title sponsor at Tech Cocktail NYC spring mixer event.

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Frank Gruber is the cofounder, CEO and Executive Editor of Tech.Co (formerly Tech Cocktail). He is the author of the book, Startup Mixology, Tech Cocktail’s Guide to Building, Growing, and Celebrating Startup Success. He is also a startup advisor and investor to startups. Find Frank Gruber online and follow him on Twitter at @FrankGruber.

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