The Wall Street Journal reported on the 10 most common startup mistakes recently. I noticed there was a pattern within the ten: being extreme on both ends of the spectrum. For example, one mistake was not having a business plan, while another stated that overthinking the business plan was a major mistake. Or, not getting enough funding, and getting too much funding were also common mistakes. How can you avoid falling into these extreme categories? Here are some ideas:

1) Evaluate your personality- Sometimes, it’s easy to become nearsighted and lose track of what is important in your business. Knowing how you operate as an entrepreneur will help you identify when you may be drawn toward an extreme before it’s too late to stop it.

2) Have someone call you out- This goes along with a couple of the other mistakes in the article: not having a partner or advisory board.  Having someone who can call you out on your mistakes will make it much easier to stop before your business tanks. Often, this involves a deep level of trust and respect from both parties so neither will get offended or be afraid to get their opinion out there. Also, an advisory board with tons of experience will more readily be able to see when you’re making a mistake or about to…they’ve been there before.

3) Be humble- Know when it’s time to back off or admit you’re wrong. You’d be surprised how often entrepreneurs develop a big ego and turn renegade. The most successful entrepreneurs know that it’s important to stay grounded, hear others out, and take action on smart advice. Important also is to be thankful and never take any advice or extra help from others for granted.

Image thanks to http://www.flickr.com/photos/49503102897@N01/54389823/