Consultants, coaches, accountants, engineers, and other solopreneurs starting a service business, make common mistakes that cost them to be ineffective with their resources. In turn, these mistakes bring on a slow, frustrating success or even force them to remove their shingle because they run out of resources, normally money.

You would think with all training and knowledge now available that these individuals would be making fewer mistakes. Actually, 2004 had a large increase in business failures due to selling a service before they cultivated their service.

You will want to see if any of these items are biting into your assets. You will want to be honest here:

1. You don't have all knowledge needed to bring your business to fruition, yet you think you do. Alternatively, you could be missing skills. Whatever you are missing, you are going to need finances to close holes -- either through a self-education process or using outside support.

2. You aren't honest with yourself on how much effort it needs to cultivate your ideas and projects. Do you start a project and give up after you work on it, and work on it, and lose momentum or energy to complete it? If you do this frequently, you want to evaluate your ego’s presence.

3. Do you buy into societies "quick get" philosophy? Are you always buying next best answer to slice bread? Stop chasing possibilities and get down to working your processes.

4. You are in it for wrong reasons. You have an eye on prize and don't want to work journey. If you want to make exceptional money, it’s going to take two or three times time you estimated. Is your eye on possibilities or on work? There is a time for both, do you know when its time, and when it’s not?