Entrepreneurial Mistakes

Eric Sink writes about lessons learnt as an ISV (Independent Software Vendor):

– Be careful about fixed-bid projects.
– Be careful about using bleeding-edge technologies.
– Small ISVs should do software and stay out of real estate.
– Investors don’t like low-margin business models.
– A market with no competition ain’t.
– The negative connotations of the word “middleman” are often deserved.
– All contracts must be reviewed by an attorney. No exceptions.
– Cash is supposed to flow from your customers to you, never the other way around.
– Small ISVs should build apps, not platforms.

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