- Overestimating the meaningfulness of the value-proposition to the intended target audience
- Underestimating costs
- Overestimating execution capabilities (we can do this and that… )
- Underestimating how much time it takes for funding
- Overestimating hiring and talent attraction capabilities
- Changing business model too frequently, without investing enough time and efforts in trying to make things work
- Taking a top-down approach to market size (Gartner says the market is USD 20 billion) instead of taking a bottoms up approach (how am I going to get my first 1000 users)
Most common mistake: Underestimating the time it taks to build a successful brand and company. Think in years and not in months.