Harvard University Professor

So it should, because they would otherwise not they remove forward their projects or convinced others that accompany them with resources and work. However, the greatest complaint of investors in the world is that realism lack them in its projections. Overestimated revenues and underestimated costs is very frequent cause of business failure. It is also usual that entrepreneurs make the mistake’s start spending that still have not won. Lack of knowledge of itself: every entrepreneur before installing company must answer a few basic questions: do I have clarity on my goals? I’m thinking of the right strategy? Can I run it? The relationship between the personal interests of the entrepreneur and the operation of enterprises is essential to success, argues Bhide. For example, it is not the same thinking to create companies that they endure, or create companies to then sell them or to enrich himself. If the results of the company at the end do not match the expectations of the entrepreneur, this can derail it.

Do not form good teams; One of the most common mistakes entrepreneurs is to believe they can take forward their own projects. By the fear of sharing knowledge, or love that have them to their companies, tend to not join others and lack of experience they may be failing. Amar Bhide, Harvard University Professor, found that another error is to get together, for convenience, with people of similar knowledge or without preparation. In addition, says, something that generates a large proportion of failures is not able to handle the difficulties of working with families and loved ones. All of them can be added others, as ignorance of modern managerial topics, basic fundamentals of administrative science; use of research, especially that of marketing that generates conducting feasibility and success of the business; appropriate administrative control systems: management of human interrelations; conflict management; not properly handle its assets; be attentive to what consumers demand; worry about the quality and productivity; absence of leadership.