One of the most important things I encourage entrepreneurs to do is to learn from their mistakes. After “doing” business incubation now for 7 years in 3 states and working with just over 600 startups… I’ve made a lot of mistakes. And I still make new mistakes every day.
In the process, I’ve been lucky to see incubation from different vantage points. I’ve served entrepreneurs in an accelerator program, a manufacturing incubator, a commercial kitchen, and an office-style incubator focused on technology and healthcare innovation. I’ve worked in incubators operating under the umbrellas of a university, a municipal government, a non-profit, and now a Chamber/EDC type organization. In all of these cases, I’ve enjoyed my share of successes. But I’ve also fallen flat on my face from time-to-time.
I want to share with you 10 of the mistakes which have hurt (and ultimately benefited) me the most so far in my business incubation career