7 Common Mistakes to Avoid When Starting Up
Going Light on the Marketing
Stuart Skorman, a former rock band manager who was an early investor in Whole Foods and has since earned a reputation as a serial entrepreneur, says that he thinks anyone who plans out their business before their marketing strategy is foolish. When Skorman was launching his chain of video stores, called EmpireVideo, he planned on big success, but was strategic about who he would target. “I designed the whole company for 200 people,” Skorman says. And he doesn’t mean 200 customers; he created the company for people who could provide publicity, including editors at national publications. “Your story has to be viral,” he says.