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If your company has been around for more than 18 months, then you have already outlasted an estimated 80% of entrepreneurial startups.
However, we can often learn more from mistakes and mishaps than we can from profound successes.
Here’s a look at five top mistakes businesses make with regularity—now is the time to benefit from your competitor’s mistakes by not falling prey to the same errors.
5. Using hope as a strategy
Optimism is an excellent personality trait. However, it must be tempered with a strong sense of realism too. Don’t be so overly enthusiastic as to become blinded to a product’s potential problems. Understand when a product or promotion isn’t working and except the initial challenge of making it succeed. Not all new ideas will be slam dunks for success. Understand when to the pull the plug.