Ten traps for entrepreneurs …

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?

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