Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Stupid Things Entrepreneurs Do 0:00: Entrepreneurial mistakes, including taking on too much work and not building a strong team. Mercer started a monthly Entertainment Guide newspaper in his early entrepreneurial days but made the mistake of not learning how to manage a team. He quickly learned that entrepreneurs should build a team, not do everything themselves. 4:10: The dangers of assuming success and the importance of learning from failures. Jeff learned the hard way that having a "Midas Touch" doesn't guarantee success, and urges the listener to never fail the same way twice. 6:25: Business mistakes and the importance of recognizing possibility vs probability in decision-making. Jeff shares his failed attempt at dropshipping, losing $15 on each product sold. Mercer reflects on past mistakes, recognizing both the possibility and the probability of being wrong. 11:10: Recognizing and addressing mistakes in work and personal life. Mercer reflects on past mistakes, such as tolerating work that drains his soul. 13:56: The importance of iterating and adapting in business to avoid stagnation and grow revenue. Jeff compares technical debt to anchors, explaining how it can be beneficial at the beginning but become a hindrance later on. 17:23: The importance of self-awareness and growth in entrepreneurship. Mercer shares insights on the importance of self-awareness and growth. Beliefs can be useful or not, and it's important to distinguish between the two. 20:22: Hiring mistakes and how to improve employee management. Jeff’s mistake was trying to teach his way out of problems instead of being an active manager, resulting in confusion and poor performance from team members. 24:40: Common business mistakes and how to learn from them. Jeff admits to not listening to Mercer during a launch, leading to a mistake. Mercer appreciated Jeff’s push to see the potential for collaboration. 29:46: Improving communication and decision-making in business partnerships. Jeff reflects on the value of being wrong and discussing ideas with others and emphasizes the importance of reading the room and presenting in a way that resonates with different people.