Top ten lies of entrepreneurs

We get pitched dozens of times every year, and every pitch contains at least three or four of these lies. We provide them not because we believe we can increase the level of honesty of entrepreneurs as much as to help entrepreneurs come up with new lies. At least new lies indicate a modicum of creativity:
  • “Our projections are conservative.”
  • “(Big name research firm) says our market will be $50 billion in 2010.”
  • “(Big name company) is going to sign our purchase order next week.”
  • “Key employees are set to join us as soon as we get funded.”
  • “No one is doing what we’re doing.”
  • “No one can do what we’re doing.”
  • “Hurry because several other venture capital firms are interested.”
  • “Oracle is too big/dumb/slow to be a threat.”
  • “We have a proven management team.”
  • “Patents make our product defensible.”
  • “All we have to do is get 1% of the market.”

Source: Guy Kawasaki | | January 08, 2006