Mistakes Every Entrepreneur Should Avoid from Dr. Jack Kavanaugh

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Mistakes Every Entrepreneur Should Avoid from Dr.
Jack Kavanaugh
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Learning from other entrepreneurs' missteps
before you is an excellent way to ensure success
in your endeavor. Every entrepreneur should avoid
the following common errors explained by Dr. Jack
Kavanaugh.
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• Overlooking Competition
• Everyone has a rival. Everyone! Even if you
  believe you've found the perfect niche with no
  one to challenge you, you're probably mistaken.
  There will undoubtedly be competitors in your
  field who will try to steal your traffic and
  clients if you are not careful. Always keep in
  mind that you are not alone. Analyze the market,
  determine your competitors, and then plan and act
  accordingly.

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Overspending or Not Spending Enough Money is
likely to be a significant concern for a new
entrepreneur. Most entrepreneurs have little
money to spend, and those who do can easily fall
into the "you have to spend money to make money"
mindset, which can be equally damaging if left
unchecked. Instead, try to find a happy medium.
Consider your expenses and finances, and learn to
spend enough but not too much.
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• Taking Hiring Decisions Based on Cost
• It can be tempting to hire on the cheap when
  money is tight. The difficulty with that is that
  you'll end up paying the price in the end.
  Employees and consultants are inexpensive for a
  reason. They could be unskilled, inexperienced,
  or untrustworthy. Pay no more than your employees
  are worth, but understand that you'll have to pay
  a little more for someone who knows what they're
  doing (and make sure you're paying competitive
  prices). Employees are the foundation of any
  business. Hire appropriately.

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Also, just because you discovered an excellent
niche and have a great idea doesn't mean you
don't have any other skill sets or areas of
knowledge that are lacking. If possible, hire a
knowledgeable, experienced consultant or mentor.
They won't know everything, and you won't know
everything, but you can accomplish amazing things
by working together.
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• Avoid these mistakes, explained by Dr. Jack
  Kavanaugh, to ensure you never hit a roadblock
  while driving to success.