Many entrepreneurs spend six to twelve months preparing a business plan and trying to raise significant capital based on an idea for a product, service or concept. This are not usually the successful ones. During this time, their profitable peers have fully stretched their limited financial and human resources to get to the point of making sales, generating revenue and bootstrapping their business to the next level, which may be raising the big capital.

Make sure you’re not spending too much time on fine tuning your ideas and going for the expensive, large scale launch while your more determined competitors are the ones being paid by your potential customers.