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The Business of Creativity: An expert guide to starting and growing a business in the creative sector by Michael Jacobsen

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CHAPTER 3: How To Grow Your Business

The biggest mistakes when starting a business

When considering how to grow a business I want to start by looking at the mistakes you can make that will hold your business back and prevent it from growing.

Mistakes do happen and if you get a result that is not what was desired, or not what is good for your stakeholders, employees or the business as a whole, usually a new strategy can be employed to turn things around. However, it is best to model other successful businesses and research mistakes others have made in order to avoid making them yourself.

I have studied the mistakes and failures of many business leaders and entrepreneurs and here are the top ten:

  1. Undercapitalisation
  2. Believing others ...

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