DIY for legal and accounting support: Launching a business is already a risky venture, involving significant assets and time. Thus, skimping on professional advice to save a few hundred dollars is unreasonable.

Choosing the wrong business structure: Selecting the right structure can save you time, money, and stress. Be informed about the different state laws and entity structures that will benefit your business the most.

Overlooking the budgeting phase: It's tempting to spend money before finalizing an accurate budget. The desire for a stunning office, fancy website, and costly vehicle from the start can lead to issues. Focus on key revenue drivers and cost-saving measures to maintain a lean operation.

Hiring unsuitable personnel: The saying "don't mix friends/family and business" is popular for good reason. While some success stories exist, most reveal pitfalls in blending personal ties with business. Additionally, hiring challenges extend beyond friends and family; employing a specialist when a generalist is needed, or vice versa, can harm a start-up.

Neglecting to define your Why: Use the question "why?" as your guiding principle. Ask yourself, "Why am I doing this?" This clarity helps you stay grounded and focused amid the typical ups and downs of business.

BONUS: Lacking sufficient reserves: Starting a business requires capital. While many newcomers grasp this, they often overlook the amount needed for personal and business expenses before the start-up generates income. Ensure you have enough resources to allow your business to truly take off.