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The Easiest Way to Raise Money

It's simple: Don't spend it. Here are 10 ways entrepreneurs waste their hard-earned capital.

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This story appears in the July 2010 issue of Entrepreneur. Subscribe »

If entrepreneurs could recover all the time and money they waste, our GNP would soar. I can't prove that scientifically--researching the topic would be, well, a waste of time and money--but I've seen it often enough, in business plans, on income statements (including my own), during bankruptcy proceedings and just looking around.

To win the startup game, you need to be a miser with your money. You need to spend it on things that will make you a success, not on what will simply make you feel or look like one. You need to pander to what your customers need, not to what you need.

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