flynn065

We always hear what entrepreneurs ought to be doing. Here are six things they should not be doing: 1.  Procrastinating or waiting for things to happen . Things that you don't complete will remain in that state. Believe me, things won't happen with wishful thinking. Don't procrastinate any longer. Just do it... 2.  Trying the same thing over and over again . This is the big trap that many great entrepreneurs fall into. Rule of thumb: After trying it the third time, it's time for a change.  3.  Going alone . Entrepreneurship is a long, exhausting and exciting journey. It's more fun and more rewarding with a partner or two. It can also get you funded. If you are looking to start a new company, do it with two or three co-founders. 4.  Not asking for help . Being brave is a great entrepreneurship trait; however, when you are not knowing something, you need an expert to help you. If you don't ask for help, your growth will stall. 5.  Giving up quickly . Risk-taki...

Quite often, today's innovators become tomorrow's laggards, and many either die or just stop growing. The real question is: Why? Some of the popular and innovative companies of yesterday such as Hollywood Video, Borders, THQ, KB Toys, Frontier Airlines, Trump Entertainment Resorts, Nortel, Habitat, Polaroid are dead. Some reasons for the eventual demise and the death of innovation at these companies are: 1. Dependence on the familiar - Most companies become over-dependent on existing products for far too long, keep on adding bells and whistles and additional features that current customers keep on asking for, until they realize that these products are now bloated and obsolete. Worse yet, new customers don't want to buy the bloatware, and existing customers are also getting tired of the extra things that are not needed. 2. Change of management structure - Many times, as the company grows, the culture, leadership and management becomes more and more process oriented, and les...