What are the biggest pitfalls you’ve seen management consultants fall into when they leave consulting to start up their own firm or join an early stage startup?

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1) Not actually knowing anything about running a business
2) Not being agile (little "A" agile, not big A "agile") enough to handle the complexities of startup/small business life
3) Being up Schitt's creek without a paddle when operating in an environment that doesn't have all the structure and admin processes that our firms do

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Sales, sales, sales. You need to generate clients first.

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