Screw-ups are inevitable when you’re launching your own business. Entrepreneurs are often less clear about their company’s purpose than they thought they were – or hit roadblocks they didn’t anticipate and don’t know how to handle. Serial entrepreneur Jerry Kaplan, in this entrepreneur thought leader lecture given at Stanford University, runs down the list of mistakes that are most likely to bring a startup down. (The lecture’s seven years old, but the advice is timeless.)
If Kaplan’s advice strikes a chord, you might also want to check out his thoughts on the five critical skills entrepreneurs need.