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Breaking free from the cubicle and forging your own path to business success can feel like a daunting venture, but learning from the experiences (and mistakes) of other entrepreneurs can help move you in the right direction. Starting a company requires more than a great idea; it also involves avoiding costly pitfalls that can leave you penniless and back at a job you despise.

The Wall Street Journal put together a list of the ten most common mistakes made by entrepreneurs starting a company. Check out a handy sampling:

• Seeking too much advice from too many people. Instead, consider assembling an advisory board stocked with seasoned entrepreneurs who have experience in your industry.
• Not raising enough capital. You can’t make money without spending money, so work out a budget before launching.
• Failing to create a business plan. The road to success needs a map—create one.
• Focusing too much on development and not enough on sales. Who will buy your product or service if no one knows about it? Answer: No one. Or maybe just your mom.

Full story at Yahoo! Finance.

Tons of advice and insight for startups.

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