Here are some traps I saw other entrepreneurs fall into (Of course, some of these I fell into myself multiple times !).
Watch out when you hear these lines.
# 10. “Let’s add Social Networking features and use AJAX. It’s the hottest trend around. Will help with valuations”
# 9. “He has 30 years experience in the Industry and can open doors for you with Whos-Who. Rest is easy for you. He wants to be on a retainer and not on sales commission”
# 8. “When Infosys and Wipro started there was no competition. They had all the time to grow. Now time is money. It’s a VC funded world.”
#7. “Small companies cannot sell. We need to be much larger to be taken seriously”
#6. “Let’s not to worry about profitability. Let us grab market share and scale”
#5. “They are old school, brick&mortar … won’t get it right on the web”
#4. “I am unable to sell because there is no marketing investment here. We need customers who call us, not other way around”
#3. “Just build the traffic, you can sell it Google or Microsoft or Facebook”
#2. “Just getting 0.5% of people in India as our customers … just 0.5% … means we will blow our revenue plan out of the water”
#1. A VC saying “I want you to raise more money sufficient for the next round as well now … so you can focus on building the business and not waste any time fund raising”
What do you think … did you hear these any time before? What else would you add to your top 10 list?