Codie Sanchez breaks down seven mistakes that tank new businesses: quitting too soon, ignoring data, handshake deals instead of contracts, hiring too fast, doing everything yourself, underpricing, and overlooking cash flow.
Chapters
Quitting too soon 3. Not measuring stats and data 6. Handshake deals 7. But just don't ever do them. That's a terrible idea unless it's been written in blood. You didn't actually do it hiring too fast 5. You never hire fast enough. I don't know why but first time entrepreneurs hire faster doing everything yourself. 4. Probably the same thing. Most businesses do not stay small by the design, they stay small by default pricing too low. 2. We've helped 14,000 people build businesses. I can safely say about 90% of them do not have high enough prices. Typically business owners are anywhere from 100 underpriced to 30%. So if you're gonna go do one thing, say a little prayer to Jesus because you're an entrepreneurship and go raise your prices right after that. Ignoring cash flow 1. The number one reason your business will fail is because you run out of cash.