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Build your Network

You’ll want to meet other entrepreneurs as well as mentors and investors. They can all help.

Just make sure you spend most of you time working on your business – not drinking beers with entrepreneurs and investors! The most important people to network with are customers! Only customers can tell you whether you’re tackling a compelling problem!

Some entrepreneurs like the idea of asking investors and others what they think of their startup idea.  We like to remind entrepreneurs that even investors are wrong most of the time (according to a Kauffman Foundation study, about 80% of angel investments are failures).  The best way for you to test your idea is to get out and talk to customers.  Networking is good – just remember that time spent with other entrepreneurs and investors is time that you’re not spending working on your business!

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