Hindsight: What Nine Entrepreneurs Wish They'd Known

This article was written by Kristin Edelhauser Chessman of Entrepreneur.com

It's always easier to look back at a situation and realize what you could've or should've done differently. The same is true when running a business. One small mistake can set you back or possibly even compromise your company.

When venturing out on your own, there's no manual to guide you. So we asked nine entrepreneurs to take a trip down memory lane to help you steer clear of start-up blunders. Read on to find out how you can avoid making the same rookie mistakes.

Jacquelyn Tran, founder of Perfume Bay, Inc.
Age: 30
Industry: E-commerce
Number of employees: 13
When it all began: 1999

What she would change, if she could: The Huntington Beach, Calif.-based e-tailer has experienced steady growth since inception and has plans for an aggressive marketing campaign in 2008 that she hopes will help grow her customer base. But looking back, Tran wishes she had launched her marketing campaign sooner.

"When I started Perfume Bay, one of my biggest challenges was figuring out how to drive business to the Web site. A marketing plan would have helped me build my customer base faster by identifying the best strategies to promote the Web site and target my primary audience, as well as how to track and evaluate customer response to our campaigns."

	Jacquelyn Tran

Brandon Fishman and Brent Gleeson, co-founders of NewCondosOnline.com
Ages: 26 and 30
Industry: Real estate
Number of employees: 10
When it all began: 2004

What they would change, if they could: The San Diego-based business more than doubled its sales between 2006 and 2007. But Fishman and Gleeson can still find room for improvement. "We would have spent more time and money on search engine optimization. Top placement in Google is key to any business in this day and age, and the cost of PPC gets higher every day. In addition, we would have placed more emphasis on employee commissions. We've learned over time that commissions and incentives drive employees to bring in more business."

	Brandon Fishman, Brent Gleeson

Kara J. Trott, founder of Quantum Health, Inc.
Age: 46
Industry: Health-care management
Number of employees: 79
When it all began: 1999

What she would change, if she could: Trott made the risky move of leaving behind her career as a lawyer in hopes of starting Quantum Health. Now, she says it's the best move she ever made. But she admits her inexperience in the health and business worlds were a hindrance early on.

"My background wasn't specifically related to this business, so I had to rely on the capabilities of others. Now, I would have trusted my instincts more in terms of what we needed to do. There were times when I took others' advice, when I should have done what I thought was right."

	Kara J. Trott