By Bob Callander

Traps Entrepreneurs Must Avoid #3

Trap #3 – Arrogance

The business textbooks are strewn with dead or dying bodies of the once all powerful, now struggling, and long forgotten…Penn Central, Kodak, TWA, Howard Johnson and AOL, to name a few.  These companies became too sure of themselves, unwilling to change, too comfortable with success and certain that they, rather than market forces, were in charge.  Arrogance got in the way of creativity and adaptability, the very forces that carried them to their pinnacles.

Successful entrepreneurs often credit a “stay hungry” attitude as the key to their growing profitability.  While that’s fine, don’t forget to “stay humble” too.